Pay with TransferWise

Pay all of your bills and easily reconcile transactions using Pay with TransferWise. It’s a simple, fast and secure way to pay and manage your bills in Xero.

Overview

Pay with TransferWise is a bill payment feature that lets you pay your suppliers through Xero using your preferred bank account.

Save time by paying multiple bills in one transaction, rather than individually.

A seamless, more efficient accounts payable process that means less time on business admin and more time on your business.

With Pay with TransferWise you can:

Pay bills in clicks: No matter which UK bank you’re with, you can pay and reconcile multiple bills in just a few steps

Better visibility: See the status of payments in Xero and know that your suppliers have been paid on time. Send suppliers a remittance to notify them of payment

Greater accuracy: You’ll be alerted of potential errors before a bill payment is processed, reducing the risk of failed payments

Easy reconciliation: Regardless of how many bills you pay, you’ll be able to reconcile payments in just one click through a single statement line for each batch in Xero

Explore all features of Pay with TransferWise

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Pay with TransferWise + Xero

Pay bills in just a few steps:

Enter your bills into Xero then select those you’d like to pay.
Choose to pay using Pay with TransferWise and complete the bill payment details.
Payment details are sent securely to TransferWise ready to be paid.
Transfer funds from your existing bank account to your TransferWise account using the payment reference.
Once funds are received, TransferWise processes the payments to your suppliers. You can see the status of your payments in Xero.
Bills are automatically marked as paid and you can reconcile the payment transaction in one click.

Getting started

If you’re the Xero subscriber, add Pay with TransferWise to your subscription and then connect your TransferWise account to Xero. If you're signing up to TransferWise for the first time, have your ID available to verify your identity.

In the Business menu, select Purchases overview Go to Bills>Awaiting Payment, then select the bills to pay Follow the steps in the banner to subscribe to the feature and choose a plan that suits your monthly volumes After you've added Pay with TransferWise to your subscription, sign up/log in to TransferWise Follow the steps to connect your TransferWise and Xero accounts. Pay with TransferWise will then be available as a payment method

Explore how to setup Pay with TransferWise

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Kai Winselmann

Posted

Interesting approach, this type of batch payment service. But only reducing the number of manual transfers. Still manual transfers have to be done. I find it fairly confusing and suprising that transferwise has chosen to build this type of xero integration. We use TransferWise as a bank and have balances with TransferWise. I would have expected to be able to move money and pay bills using funds in our TransferWise balances using Pay with TransferWise. Hope this will be offered soon!

Philip Hankers

Posted

Thanks for this Julia. I like you would expect the transaction to be the payment to the supplier not the number of invoices. With that knowledge 3 stars in my opinion is generous. This looks like a good feature but I will pass as it will not be cost effective for us.

Julia Hudson

Posted

I have just received my first bill including this service, I thought it was very good until I saw the costs Xero says eg is + 35p for each additional transaction For me, the transaction is the payment to the supplier, so I calculated 10 payment transactions reasonable But, I have now found out, the transaction is each invoice, so pay 5 suppliers for 8 invoices each, this counts as 40 transactions and the costs are then very very high, our business has a lot of suppliers who invoice us per delivery so can easily be 10 or more invoices to pay one supplier each month

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