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How do you reconcile funds?

Freemarket reconciles incoming funds based on where the payment is sent and whether the correct reference information has been provided:

  • Payments to your vIBAN 

If you have a virtual IBAN (vIBAN), any payments made to it are matched to your account. No additional references are needed as the vIBAN is unique to you.

  • Payments to a Freemarket named account

If funds are sent to shared account held in the name of Freemarket, you must include your client ID in the payment reference. This allows us to identify who the funds belong to and ensure they are credited to your account promptly.

All first-time transfers from a new sender are manually reviewed and reconciled to your account by our Operations team.  You may be required to provide additional details about the sender.

Once the funds are successfully reconciled, they will under the Balances tab in relevant currency.