Manage your bill payments more efficiently using Pay with TransferWise

TransferWise is a leading and trusted payments provider who have been helping businesses with their payments for many years. Their guiding  principles are that payments should be low-cost, transparent, easy and fast – making them the perfect partner Xero’s bill payment solution in the UK. Learn more about TransferWise and their story here.

With Pay with TransferWise, TransferWise are responsible for processing the bill payments. 

You start the process in Xero by submitting the payment details, which are then sent to TransferWise. Once you have funded the payments from your bank account, TransferWise then process the payments to your suppliers’ bank accounts.

To use Pay with TransferWise, you will need to set up a TransferWise account (or use an existing business profile account).

Please note TransferWise only supports businesses that meet its acceptable use policy, and accepts sign-ups at its own discretion. Xero can't guarantee that all businesses signing up for a TransferWise account will be accepted. Read more about whether your business is eligible to use TransferWise here.

Pay with TransferWise is a domestic bill payment solution that enables UK small businesses to pay and manage bills through Xero. The integration with TransferWise, a leading and trusted payments provider, gives you a seamless process to pay multiple bills – regardless of your bank – and reconcile transactions easily. It’s a more efficient way to manage the bill payment process.

Whilst you can pay bills using batch payment files, the process can be manual, disjointed, error prone and time consuming. You’re required to download a batch payment file from Xero, upload it separately to your bank, check the status of the payments in your bank and manually mark bills as paid in Xero.

Pay with TransferWise streamlines this process by allowing you to pay and manage bills in a more automated way. Once you've submitted the payment details in Xero, the details are sent directly to TransferWise. As soon as you have transferred the funds to TransferWise, they will process the payments to your suppliers' bank accounts, and the bills will be automatically marked as paid in Xero. It’s a faster and more efficient process that will save you time.

Pay with TransferWise will work with any UK bank account that has the ability to make a bank transfer. The solution only supports local UK payments.

Yes, there will be a monthly charge. You’ll be able to select a payment tier to suit the number of bills you pay each month. This can be purchased as an add-on to your subscription from within Xero.

The solution will be made available to selected customers from February 2020 as part of the beta period. If you’d like to be a part of beta, you can register your interest. You’ll need a TransferWise account in order to participate in beta, which you can set up through TransferWise.