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How do I send batch payments?

To set up and manage batch payments using Transfer Vault, follow this comprehensive guide:

Enabling Batch Payments

Before using batch payments, activate the feature by contacting your Client Manager. They will assist in enabling batch payments for your account.

Accessing Batch Payments

Once enabled, follow these steps:
  • Navigate to Transfer Money: Click on 'Transfer Money' at the top of your Client Portal.
  • Select Account: Choose the account from which you want to initiate batch payments using the dropdown menu.
  • Use Batch Payment Import: Scroll down to the bottom of the 'Transfer Money' form and click on "Use our Batch Payment Import".

Preparing Your CSV File

  • Choose Account: Select the account you wish to use for batch payments.
  • Upload CSV File: Upload your prepared CSV file containing all necessary payment details.
  • Download Sample File: For guidance, download and refer to the provided sample file.
  • Required Fields: Ensure your CSV file includes all required fields in the fixed column structure provided. These fields include details like payment type, recipient information, amount, and purpose.

Guide to CSV Fields

  • Payment Type: Specifies the type of payment (e.g., Internal transfer, SEPA Payment).
  • Recipient Details: Includes recipient's name, address, country, and banking information.
  • Transaction Amount: Amount to be transferred for each payment.
  • Reference and Purpose: Additional details about the payment.
  • Transaction ID: Unique identifier for tracking and auditing purposes.

Handling Issues

  • File Name Issues: If you encounter errors about file names, change the file name and attempt the upload again.
  • Column Errors: Ensure your CSV file adheres to the exact column structure specified. Errors can occur if columns are missing or if values exceed specified limits.
  • Excel Formatting: Excel may truncate long numbers or remove leading zeros. Adjust formatting to ensure data integrity.

Limitations

  • Batch Size: Avoid exceeding 100 transfers per CSV file. For larger batches, split them into smaller files (up to 20-30 transfers per file).

Troubleshooting

If you encounter any difficulties or need assistance setting up batch payments, contact your Relationship Manager or leave a message for support.
For streamlined account management and batch payments, use the Transfer Vault mobile app available on iOS and Android. Download the app, sign in, and efficiently manage your payments on the go.

Do you require any additional help?

Contact us to learn more about our services and receive assistance from our dedicated support team.
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