This article outlines all the ways you can make payments from a Viably Global Account.
As you're all-in-one global banking solution, Viably Global Accounts provide a wide variety of strategies for making payments to your suppliers, employees, or even the small purchases that you make on a daily basis for your business. However, the two main methods for payments from your Viably Global Account are through your virtual debit card or a direct transfer from your Viably Global Account.
How to initiate a direct transfer using your Viably Global Account
Before you can make a direct transfer using your Viably Global Account, you'll need to add your supplier or employee as a beneficiary. This adds an extra level of security and protection for your business, verifying that money is going to the correct place.
Adding a Beneficiary
With your Viably Global account, easily add those suppliers and vendors from around the globe! By clicking 'Pay' from your Accounts Dashboard or 'Global Payments' within your Move Money dropdown, you'll be taken to the Add Beneficiaries page.
This will then take you to the beneficiaries page. Here you can view existing beneficiaries or pay someone new.
When you add a new beneficiary, you'll be given the option to define if you are paying an individual or a business. You can then add their details and select a default payment type: either ACH, Wire (Fedwire in the US), or Cross-border (international payment). You can pay each beneficiary in whatever currency best fits their bank account (and your's!).
For each payment type, you will see the required details you'll need to provide about the recipient.
Once you've added a beneficiary you can always change the payment type you are making from your Viably Global Account.
Completing a payment from Viably Global
With your beneficiaries added, you can start making payments in any currency (for those inventory orders, to your warehouse or 3PL providers... the list is limitless!).
Once you've selected a beneficiary to pay, you'll just need to add:
- How much the payment will be and in which currency.
- When the transfer will need to happen.
- Review and confirm the transfer method.
- Add any additional details, including how you'd like this payment to be categorized and any notes you might have.
After you've entered the payment details and click "Next" you will have the opportunity to review the payment.
From the review, you will have full transparency as to what the payment will cost from your Viably Global Account with the associated fee (if applicable). Once the payment has been made, this will be visible from your Viably Transactions Dashboard.