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:
Column A - 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.
Column B - 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.
Column C - Beneficiary name: Beneficiary name with no space at the end and no special characters such as &, %, _,/ - =...etc
Column D - Beneficiary Street Name: It is mandatory for Australian clients, Canadian clients, Brazilian clients, payments to Canada, Australia, Nigeria or payments in CAD, AUD or NGN. However, it is highly recommended to be included to all payments to all beneficiaries. If there is a beneficiary in INR, the bene's telephone needs to be filled in this field.
Column E - Beneficiary Building Number: It is mandatory for Australian clients, Canadian clients, Brazilian clients, payments to Canada, Australia, Nigeria or payments in CAD, AUD or NGN. However, it is highly recommended to be included to all payments to all beneficiaries
Column F - Beneficiary Floor: Not mandatory but recommended.
Column G - Beneficiary Apartment/Office:Not mandatory but recommended.
Column H - Beneficiary Post Code: It is mandatory for Australian clients, Canadian clients, Brazilian clients, payments to Canada, Australia, Nigeria or payments in CAD, AUD or NGN. However, it is highly recommended to be included to all payments to all beneficiaries
Column I - Beneficiary Country Sub Division: It is mandatory for Australian clients, Canadian clients, Brazilian clients, payments to Canada, Australia, Nigeria or payments in CAD, AUD or NGN. However, it is highly recommended to be included to all payments to all beneficiaries
Column J - Beneficiary City: It is mandatory for Australian clients, Canadian clients, Brazilian clients, payments to Canada, Australia, Nigeria or payments in CAD, AUD or NGN. However, it is highly recommended to be included to all payments to all beneficiaries
Column K - 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.
Column L - Purpose code: This field has to be left empty unless it’s a CNY payment to China or it’s a payment to UAE. In that case, please check Note 8 at the end of the article.
Column M - Payment currency: The currency that will be paid to your beneficiaries.
Column N - 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.
Column O - 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.
Column P - Bank name: This field has to be left empty
Column Q - Bank Address 1: This field has to be left empty
Column R - Bank City: This field has to be left empty
Column S - 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.
Column T - Account No: Account number of the beneficiary, to be filled if the country does not have mandatory IBAN. Applicable to most African IBANs as well.
Column U - IBAN: For countries with IBAN. To be written without blank spaces and/or hyphens. Find out more about IBAN structure and mandatory IBAN countries on this website. When European IBAN's have been added into Column U there is no need to add the account number in Column T
Column V - Swift Code: mandatory for all countries including USA
Column W - Payment Reference: Reference that will be included only in this specific payment. A reference is mandatory in the payment.
Column X - 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
Column Y - Value Date: Date for transaction/payments
Column Z - Remitter Name: This field has to be left empty
Column AA - Remitter Address Line 1: This field has to be left empty
Column AB - Remitter Address Line 2: This field has to be left empty
Column AC - Remitter Account Number: This field has to be left empty
Column AD - Remitter Country: This field has to be left empty
Column AE - Reason for payment: Payment for Services / Goods / Salary, Charitable aid...etc. It can be left blank unless the bene is related to any of the currencies/countries in Note 9 at the end of this article
Column AF - 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
Column AG - INN: This field has to be left empty
Column AH - VO: This field has to be left empty
Column AI - KIO: This field has to be left empty
Column AJ - 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 specialised Online Team.
Note 7: If you have a payment approval system in place, you can approve multiple payments at once.
Note 8: for CNY payments to China or payments to UAE, please fill the column L (Purpose code) with the codes below according to the reason of the payment
CNY |
|
Reason for payment | Code |
Trade Settlement for Goods | /CGODDR/ |
Trade Settlement for Services | /CSTRDR/ |
Charity Donation | /CCDNDR/ |
Trade Settlement for Goods - Partial return | /CGODDR/PART/ |
Trade Settlement for Services - Partial return | /CSTRDR/PART/ |
Payment to Current Account | /COCADR/ |
Payment to Capital Account | /CCTFDR/ |
|
|
AED - full list here |
|
Goods Sold | GDE |
Goods Bought | GDI |
Travel | STR |
Financial Services | FIS |
Salary | SAL |
Charitable Contributions | CHC |
Note 9: Countries and/or currencies where Purpose of payment needs to be included in field AE (Multipayment) or field T (Multibeneficiary)
If any of the fields of the file contains one of these currencies OR even one of these countries in another currency, field AE (Multipayment) or field T (Multibeneficiary) must be filled
BDT | Bangladesh |
CNY |
|
INR | India |
JOD | Jordan |
KES | Kenya |
LKR | Sri Lanka |
NGN |
|
PKR | Pakistan |
RUB | Russia |
For further assistance, feel free to contact Ebury support directly via live chat or at the below email addresses:
EMEA (operationsteam@ebury.com)
Asia Pacific (operationsteam.apac@ebury.com)
America (operationsteam.ca@ebury.com)