A bulk payment allows you to initiate up to 200 SEPA transfers at once from your business account. This feature proves invaluable when a large number of payments need to be initiated simultaneously, saving both time and effort in the process.
For example:
Monthly Payments to Suppliers or Contractors: If your business works with many suppliers or contractors, bulk payments make paying them all at once easier. Instead of processing each payment separately, you or your accountant can combine them into one transaction.
Employee Salary Processing: Managing payroll can take much time, especially for larger teams. With bulk payments, you or your accountant can pay all employees simultaneously each month. This ensures everyone is paid on time and reduces the chance of errors, like missed or incorrect payments.
What file types are supported for Bulk Payments?
We support CSV and XML (ISO 20022) formats for bulk payments. Simply compile your payment details into a CSV or export an XML file directly from your payroll software, upload it to your business account, and initiate payments with a single click.
Which currencies do you support for bulk payments?
Currently, bulk payments are only available for transfers in EUR. We plan to expand this feature to support additional currencies in the future, and we'll keep you updated on any developments.
Are there any extra charges for initiating a bulk payment?
Great news! There are no additional fees for using this new feature. It's currently available for free to all tariff plans.
It should also be noted that we apply a transaction fee of 0.2 EUR per outgoing transfer if you have exceeded the Free outgoing transfers of your tariff plan.
For more detailed instructions on preparing your file and initiating bulk payments, please refer to this guide.
We've provided a template that you can follow: