Xero Pay with Wise is a service that helps UK businesses pay and manage their bills. More importantly, it could be the missing piece of your financial jigsaw!
Regardless of the bank you use, Xero offers a seamless process, allowing you to make bulk payments and reconcile transactions securely and efficiently. And it’s even better with Wise.
Wise is a leading payments provider trusted by over six million customers. The platforms securely transfers over £5 billion every month and is fully regulated. Put simply, you’re in safe hands!
Here’s our super simple guide to Xero Pay with Wise.
Features of Xero Pay with Wise
By combining Xero Pay and Wise, you can pay multiple bills in one transaction using your preferred bank account.
Xero simplifies batch payments and saves time by ensuring that you never need to worry about paying bills separately or exporting payment files ever again. Imagine that!
With Wise onboard, Xero will also send you alerts and updates on the status of each payment you make. This means the risk of payment failure is greatly reduced, and with regular updates, you’ll always be notified when each bill has been paid.
Lastly, you can reconcile multiple payments at once by matching them to a single statement line. Xero will also provide a much clearer idea of your cash flow and help you remain up to date with the impact of bill payments.
How to use Xero Pay with Wise
To start using Xero Pay with Wise, you first need to have accounts with both platforms. If you’re a new user, you’ll need to verify yourself and your business before you can get started.
Just bear in mind that the verification process can take a couple of working days, but Wise will let you know as soon as the process is complete.
Once you’re verified, you can start managing your bills and making batch payments immediately!
Making batch payments
Batch payments are so useful and, you’ll be glad to hear, incredibly easy to get your head around. You simply input your bills into Xero, and then choose which ones you would like to pay in batch.
Then, choose Pay with Wise and fill out the payment details. After entering the batch number in the reference field, you can proceed with the transfer. It’s as simple as that.
Keep in mind that the transfer process can take anywhere from two seconds to two hours (in some cases, it might take a full working day). The wait time all depends on whether extra checks need to be made in order to keep your money safe.
However long it takes, the good news is that you can always track the status of payments in your Xero account.
What if it isn’t for you?
Don’t worry – you can remove Xero Pay with Wise at any time.
If Xero isn’t for you, there’s always the option to cancel and remove your subscription. This is easily done by contacting the Xero Support team.
If you need more help
If you’re running a small or medium-sized business in the UK, Xero Pay with Wise could be perfect for you. It will completely transform the way you manage bills and make payments.