Overview
Xero makes it easy to manage, approve pay bills. Select the GBP bills you want to pay using direct bank transfer, and authorise the batch payment directly from your banking app or online banking. Funds are transferred from your bank account to your supplier's bank account by Crezco using open banking.
There’s no need for manual bank transfers, funding external wallets and accounts or entering credit card details - it's all about making life easier and saving time on your accounts payable.
Pay multiple bills: Bulk pay GBP bills in a single batch, and save time paying each bill separately or exporting a payment file. Consolidate the bills owed to a single supplier into one convenient batch payment in Xero.
Payment approval workflow: Allow employees or your advisor to help prepare bills for payment then handover to you for the final review and payment authentication, maintaining full control over your bank account.
Schedule payments: Schedule bills to be paid at a future date. Avoid potential bank charges for same day transactions, missing due dates and manage what comes out of your bank account and precisely when it does.
Multi-factor authentication (MFA): Authorise all payments you make from Xero using multi-factor authentication (MFA) directly from your banking app or online portal. Protecting your financial data and preventing unauthorised transactions.
Real-time payment status: View the status of your payments at any time without needing to log in to your bank account. You can also see an overview of all bill payments made using direct bank transfer giving you an accurate, digital record of which suppliers have been paid and when.
Xero Bill Payments + Xero
Xero has partnered with Crezco, a payment institution that is authorised by the Financial Conduct Authority (FCA) to provide open banking payment services in the UK. Crezco is responsible for providing all payment services when you pay bills via direct bank transfer.
Getting started
Set up is free and easy, simply connect your bank in Xero, then the option to pay by direct bank transfer will be available as an additional payment method.
Connecting Xero to your bank takes less than 2 minutes.
- Allow data sharing permissions to enable open banking services
- Select your bank
- You will be redirected to your online banking to log in
- Select your bank account
- Confirm and complete
Bill payments is available on UK-based Starter, Standard, Premium and Ultimate plan subscriptions. There are no recurring subscription fees (beyond what you already pay for your Xero subscription). Only pay £0.20 per bill payment (excluding VAT) when you select direct bank transfer as the bill payment method.
Note: The number of banks and building societies in the UK that offer open banking is constantly growing. We recommend checking with your financial institution to see if open banking is supported, and if there are any banking rules or restrictions on the type of account or payment limits that may apply.
