Payment Account – Incompass FX

The Payment account

For individuals and companies with a need to make and receive international payments.

Features of your payment account

Payments

Wide choice of currencies – 34 different currency pairings available.
SWIFT payout – fast payout via the SWIFT network.
No 'extra' charges – all Incompass's fees are included in the spread.
Bulk payments – group payment instructions to the same beneficiary and send in one batch.

Transfers

Transfers – move money between yours and other accounts.

Beneficiares

Beneficiaries management – create and manage all of your beneficiaries.

Benefits of the payment account

Get access to competitive real-time exchange rates.
Control against foreign exchange fluctuations.
Consolidate multiple conversions.
Maintain multi-currency balances with our intelligent conversion tools.
Access a completely transparent charging structure.
Automate the entire payout process and cut out 90% of your work load.
Instruct and disburse mass payments in a single transaction.
Use our in-country payment network, saving you and your customers time and money.
Please note our minimum payment is the currency equivalent of 1,000 GBP.

How the payment account fits in

When you register with us and set up your account. you will automatically be given a payment account - this is your e-wallet.
The e-wallet should not be mistaken for a bank account but is an online platform where you can:
- MAKE payments to third parties,
- COLLECT payments from third parties,
- CONVERT one currency to another

Who will benefit from having a payment account?

The payment account is for those with a need to make international payments to third parties and or receive international payments.

As examples: -

You are a UK based company and have a supplier that you regularly receive invoices from, based in the Eurozone.

You have clients all over the world that you invoice. Your business makes both international payments and receives funds.

In the case where you collect payments from the US and Eurozone as well as make international payments, you would need to select the payment and collection account options. The collection account will take away the need for expensive and error prone international transfers for your Eurozone and US based clients - in effect making payments for them as simple and cost effective as a local transfer.

What if you only need payments for now and later on you need collections?

If at any stage you need to add the collections account to your e-wallet, simply let us know. We will ask you to complete a short form and then the Global Collections facility will be added to your e-wallet.

The Payment account

For individuals and companies with a need to make and receive international payments.

Features of your payment account

Payments

Local payout – cost-effective payout to over 35 countries.
SWIFT payout – fast payout via the SWIFT network.
All charges ours – pay one charge for sending money with no hidden fees.
Bulk payments – group payment instructions to the same beneficiary and send in one batch.

Transfers

Transfers – move money between your and other accounts.

Beneficiares

Beneficiaries management – create and manage all of your beneficiaries.

Payers

Payer management – provide more information about the payer of a payment.

Benefits

Get access to competitive real-time exchange rates.

Control against foreign exchange fluctuations.

Consolidate multiple conversions.

Maintain multi-currency balances with our intelligent conversion tools.

Access a completely transparent charging structure.

Automate the entire payout process and cut out 90% of your work load.

Instruct and disburse mass payments in a single transaction.

Use our in-country payment network, saving you and your customers time and money.

Please note our minimum payment is the currency equivalent of 1,000 GBP.

When you register

As you go through the registration process you will be asked to select which type of account (s) you require.

The options include:

Payment account
Collections account
Payment and collections account

How the payment account fits in

When you register with us and set up your account, you will automatically be given a so called payment account - this is your e-wallet.

The e-wallet should not be mistaken for a bank account but is an online platform where you can:

MAKE payments to third parties,
COLLECT payments from third parties,
CONVERT one currency to another