Here are our top tips and potential pitfalls when sending money from China* using Wise. This service is provided in partnership with a third party payment...
Back in November Xero announced that Pay with Wise was about to launch and we invited you to join the Beta programme.
We’re delighted to announce that the feature is now available to all UK customers
Pay with Wise is a new, domestic (GBP to GBP) bill payment solution designed to give UK businesses a simple, fast and secure way to pay and manage bills with Xero.
Until now, there hadn’t been a standardised way for businesses to pay bills through UK banks. Bill-paying was manual, disjointed, time-consuming, and error-prone for small businesses.
Pay with Wise makes everything easier
This is a standardised way to make UK bill payments, regardless of your bank. It makes it easier and faster to pay suppliers.
Pay bills in clicks
No matter which UK bank you're with, you can pay and reconcile multiple bills in just a few steps.
You’ll see the status of payments in Xero and know that your suppliers have been paid on time. You can also send suppliers an invoice detailing what was paid for.
The system will alert you 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 statement line in Xero.
How to use Pay with Wise
- Enter your bills into Xero, and select the ones you want to pay;
- Choose to pay using Pay with Wise and enter the payment details — they’re sent directly to Wise;
- Transfer money from your preferred bank account to Wise, using the payment reference;
- Once Wise receives your funds, they’ll pay all of the bills. You can see the status of the payments in Xero, and bills will automatically be marked as paid.
As they launch this new feature, Xero have decided to include it at no additional cost, as part of Xero business edition subscriptions, until 31 July 2020. New Xero customers will have the option to add Pay with Wise to their subscription when they sign up. Standard pricing will apply from 1 August 2020 – find out more about each plan.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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