PayRecs is an online app integrated into our existing online banking platform that helps automate, streamline and simplify international FX payments.
International FX Wire Transfers Made Easy
Through our integration with PayRecs, we are able to offer a simplified user experience, better security, enhanced deliverability, automated workflows and more visibility of payments for both you and your beneficiaries. Our global payments solution also offers a better experience for your vendors as you’ll have the ability to add notes to payments to tell vendors exactly which invoices to reconcile, provide a link to check status updates and they’ll receive notifications throughout the process. You’ll also be able to see exchange rates at the exact time you send a payment as well as the fees you’ll pay.
Within the global payments solution, you can create virtual currency accounts in 37 different currencies. You can use these accounts to hold foreign currency or send and receive local currency payments. You can instantly fund one of these accounts right from the platform.
Within the global payments solution, you can create virtual currency accounts in 37 different currencies. You can use these accounts to hold foreign currency or send and receive local currency payments. You can instantly fund one of these accounts right from the platform.
Our global payments solution
Automatically migrated
Recipients for existing customers will be migrated from the current international payment system
Pre-sending validation
You and your secondary approver will need to validate your recipients prior to sending your first payment
Re-validation
For security purposes and to expedite payment delivery in the future, recipients will not appear in the list of companies you can send a payment to until they have been re-approved
No cut-off time
Any transaction booked in the system stays in the system until you approve it
Frequently asked questions
There are no cut off times – any transaction booked in our system stays in our system until you approve it.
Generally, yes. We work to expedite settlement of all payments and specifically FX payments. FX payments usually settle within 24 hours and in some instances, they can settle in just a matter of minutes.
The fees vary depending on volume. All fees are fully disclosed up front and are visible on every transaction, so you never have to guess what you are being charged.
We offer in-app chat support, email support, phone support, or you can contact your Relationship Manager to help you.
