Overview

Scheduling payments allows you to set a payment to be released to a recipient on a future date. This method of sending a payment works a little different than our normal process. Think of a scheduled payment as a placeholder for a payment. We're gathering all of the necessary details to create a future payment, but actions are not taken behind the scenes like the ones noted below:

• The conversion rate is NOT locked in until the scheduled date

• Scheduled payment creation can surpass the available balance of your account. So you can create a payment that is greater than your available balance, so make sure enough funds are in place before the scheduled date

• Funds are not moved from your account until the scheduled date arrives. Funds will be moved to your bank's settlement account at the time of creation on the scheduled date.

Timing

Scheduled payments will be created around midnight based on your bank's time zone. So the payments should be created first thing, the morning of the scheduled date.

How To:

Select the Schedule a Payment button below for a visual of where this option is while making a payment. If the option is not there, reach out to your bank's support representative to request enabling this feature.

Configuration:

Bank Admins, not sure how to enable this feature? The Configurations option below will show you how

Schedule a Payment

1. To get started, select the "Send Payment" button.

2. Select the desired recipient from the search page.

3. Select the "Send Today" button below the amount you've entered, from there you can set a date in which you would like the payment scheduled for creation.

4. Complete the rest of the payment wizard to schedule the payment for creation.

Configurations for Bank Admins

This feature is available on a per company basis. Once it is enabled for the company, it will be available for all users that have the ability to send a payment.

Note: This can also be enabled by default for all newly onboarded companies. If you would like this as a default option, please reach out to our support team to enable.

Errors

In the event that a scheduled payment encounters an error that fails to create the payment, a notification is released right away to any user that can create or approve payments.

We recommend creating the payment again, either by creating it for same day or re-scheduling for another date.

Possible Errors:

"An error occurred while creating the payment." - A one-off error likely occurred while attempting to debit the funds.

"There was an error in online banking with transferring funds. This transaction was not processed. You may try again. Please contact your account manager at the bank. In the meantime, we've sent them a message notifying them of the error." - Similar to the error above, however your online banking administrator may need to reconfigure your account to allow a successful payment. Please reach out to your administrator to review your profile permissions.

"Your online banking account permissions are currently restricting this transaction. If you are an administrator for your account, please make sure that your funding account for this transaction (••••1234) is not restricted from transferring to your bank's internal settlement account. If you're not an administrator or need more assistance, please contact your account manager at the bank. We've sent them a message in the meantime." - Your online banking administrator may need to reconfigure your account to allow a successful payment. Please reach out to your administrator to review your account permissions.

"This scheduled payment was not approved by <scheduled date>" - The payment required approval by another user, but was not approved prior to the scheduled date.

"There are insufficient funds in the bank account." - Scheduled payments allow you to create a payment if the available funds are not sufficient. Ensure the funding account contains enough funds for the payment prior to the scheduled date.