Answers from the payments desk

UK-registered limited companies and LLPs that pay suppliers abroad. Sole traders can join the Starter plan. We ask for your company number, the directors’ details and a recent bank statement, and most accounts are verified within one working day.

The three most common cloud ledgers for UK small businesses, plus a CSV import and export for anything else. Bills flow in, paid payments flow back, and the FX gain or loss is posted to the account you choose.

Each rail settles on a published timetable: Faster Payments in minutes, SEPA on the next business day before the 14:00 CET cut-off, SWIFT on the second business day through one correspondent. We calculate the date when you ask for the quote and show it before you approve.

If a payment reaches the supplier’s bank after the date on your quote for a reason on our side, we refund the payment fee and credit the margin. It has happened on 0.4% of payments in the last twelve months.

The difference between the mid-market rate and the rate you get. It is 0.55% on Starter, 0.35% on Trade and 0.22% on Volume. A typical high-street bank takes around 2.9% and does not print it on the quote.

Yes, on the Volume plan. A forward contract fixes today’s rate for a payment up to 12 months ahead, with a deposit of 5% to 10% depending on the date.

No. Plans are monthly, you can change or cancel at any time, and there is no fee to open an account, hold a balance or receive money.