Ebury offers the ability to instruct bulk payments via file to multiple beneficiaries. These tend to be used for payroll, monthly orders and more, so read below how to instruct hundreds of payments effortlessly!
I- How to upload your multi-payment file
Select New trade or an existing trade:
New trade: When you want to book one or many transaction or use funds in balance
Existing trade: When a drawdown or a transaction is already booked.
Only one file can be uploaded per transaction.
Download the sample file and complete it with the beneficiary and payment information. It’s recommended to use the CSV version of the file.
Select a Sell currency: The currency that needs to be converted if you don’t hold funds in balance in the payment currency.
In case you hold funds in balance in the payment currency the SELL currency will be the same as the BUY currency.
Enter a reason for trade. The reason for trade is also referred to as the reason for payment in the file.
Press continue.
Once you upload the file you will arrive to the following screen, showing the successful and failed transactions, which will be indicated as: Invalid payments.
a. If you highlight the button under REASON, you will get the reason why the payment is not valid and what is needed to be corrected on your file.
For example: Invalid value date or invalid SWIFT or bank country. You can then go
back to the file, correct it and upload it again pressing Back so you will be able to
upload it again.
b. Keep doing the operation until you only have valid payments. In order to correct the invalid payments, click on cancel, correct the file and try again the operation until only have valid payments.
c. Once all payments are indicated as VALID, you can recheck the details before confirming, pressing View details.
7. Press Continue
8. Get Rate
9. Accept the rate to process your transaction and instruct your payments.
II - How to fill-in the multi-payment file:
Direction: SELL or BUY:
Select BUY if the amount you would like to pay is in the currency that you are Buying (paying to your beneficiary)
Select SELL if the amount you would like to pay is in the currency that needs conversion.
E.g.: I would like to pay my beneficiary USD 100.00 . Select BUY in the direction.
Or
I would like to pay my beneficiary the equivalent in USD of EUR 200.00. You will have to select SELL in the direction.
Product: SPOT: When a file is uploaded, a spot trade is created (even if you have funds on balance on the currency of the payment). The file can only be uploaded inside a trade if already booked or it will generate a new trade if not booked.
With the multi-payment file, Drawdowns are considered as Spots, and they need to be booked before uploading the file.
Beneficiary name: Beneficiary name with no space at the end and no special characters such as &, %, _,/ - =...etc
Beneficiary Address: Full beneficiary address with no special characters nor spaces.
Beneficiary City: If the city has already been included in the Beneficiary Address field, this field can be left empty.
Beneficiary country: Two letters of the country of the beneficiary. ES for Spain, CN for China, US for USA, FR for France. You can find in this link the corresponding letters for each country.
Payment currency: The currency that will be paid to your beneficiaries.
Payment amount: If the Direction selected is BUY, the Payment amount should be in the currency that you would like to pay to your beneficiaries.
If the Direction selected is SELL, the Payment amount should be in the currency you are selling (Settlement Currency) and that needs to be converted.
Settlement currency: The currency that needs to be exchanged in case you don’t have funds in balance of the currency of the payment. If you already have funds in balance in the currency of the payment, the Settlement currency should be the same as the payment currency.
E.g. You would like to pay your beneficiaries in USD, and you hold funds in USD in your Ebury balance. Both settlement and payment currency need to be USD.
If you hold funds in another currency or you will be sending it to Ebury in order to be exchanged the settlement currency needs to be one that should be converted.
Bank name: This field has to be left empty
Bank Address 1: This field has to be left empty
Bank City: This field has to be left empty
Bank Country: Two letters of the bank country of the beneficiary. ES for Spain, CN for China, US for USA, FR for France. Normally, this information can be found in the 5th and 6th letters of the SWIFT code of your beneficiary account number. For example: BKCHHKHH. The bank country code will be HK for Hong Kong. You can find in this link the corresponding letters for each country.
Account No: Account number of the beneficiary, for countries without IBAN.
IBAN: For countries with IBAN
Swift Code: mandatory for all countries including USA
Payment Reference: Reference that will be included only in this specific payment
Bank Code: It's the Sort Code for UK bank accounts, BSB for Australia accounts and Transit code for Canadian accounts.. Otherwise the field has to be left empty
Value Date: Date for transaction/payments
Remitter Name: This field has to be left empty
Remitter Address Line 1: This field has to be left empty
Remitter Address Line 2: This field has to be left empty
Remitter Account Number: This field has to be left empty
Remitter Country: This field has to be left empty
Reason for payment: Payment for Services / Goods / Salary, Charitable aid...etc
Beneficiary reference: OPTIONAL - Only if you would like to add a permanent reference to your beneficiary and that will be added to this payment and all future payment to the beneficiary
Purpose code: This field has to be left empty
INN: This field has to be left empty
VO: This field has to be left empty
KIO: This field has to be left empty
Russian central bank account: This field has to be left empty
IV- Important informations
Note 1: Only one SETTLEMENT/SELL currency is permitted per file.If you would like to use different currencies to sell, you will need multiple files for each selling currency.
Note 2: Please ensure there are no spaces at the end of each field and no special characters anywhere in the file such as "&, %, _,/ - =...etc
Note 3: When you insert new beneficiaries in the multi-payment file they will be automatically created. If the beneficiaries exist, please ensure that the bank details are exactly the same as the one that already exists on your Ebury account. Otherwise, the file will create new beneficiaries.
Note 4: For GBP payments to the UK the following information is mandatory:
IBAN + SWIFT + 8 digit account number + 6 number sort code.
Note 5: Drawdowns can't be made automatically through the file. You will need to make a Drawdown first and then you will be able to upload the file choosing the transaction in the existing trades list.
Note 6: Some currencies can’t be processed through the file due to specific requirements. In these cases, please contact your account manager or our specialized Online Team.
Note7: If you have a payment approval system in place, you can approve multiple payments at once.
Please don’t hesitate to contact onlineteam@eburypartners.com or via our Live chat.