Who is bulk payment feature Idea for?
Bulk Payment feature is a simple, convenient and secure way to make payments directly to the bank accounts of multiple beneficiaries at the same time.
This feature is perfect for organizations to pay staff salaries. It is also useful for multi-Level marketing outfits to disburse payments to their network of members. Government can also use it to disburse welfare scheme to beneficiary’s accounts while companies can use it to pay salary of staffs.
How to set up bulk payment (withdrawal).
The process of bulk payment on VoguePay can be done in 3 different ways.
- Native implementation using command API: Developers can make use of our API access to send the right parameters to our REST API as documented in the developer doc.
- Add beneficiary from dashboard: Beneficiaries can be directly from the dashboard .
There are two ways that beneficiaries can be added to the list: manually or in bulk. Afterwards, payment will be sent out to the bank accounts of the beneficiaries listed.
- For manual entry, simply add the name and include other required information where payment will be sent to. Information like “Bank Swift Code”, “Bank Sort Code”, and “Bank IBAN Number” and/or “Bank Routing Number” can be obtained from the beneficiary or their banks.
- For bulk entry, upload an excel/spreadsheet document you have prepared that includes all the beneficiaries. Fill the information of the beneficiaries under the following categories: Account name, Account number, Amount, “Bank Code”, “Bank Sort Code”, and “Bank IBAN Number” and/or “Bank Routing Number” etc.
NOTE: Please note as follows:
- When updating the amount to be paid to the beneficiaries, ensure to convert the amount to be paid to the currency registered to your VoguePay account.
- To save the file in comma delimited format, i.e (*csv), go to the “File” menu and select “Save As.” and choose the csv format.
- For PC — CSV (comma delimited)(*.csv)
- For Macintosh — CSV (Windows format)
Then, upload the file. The names of the beneficiaries will be displayed with an option to edit it further.
You can review the details of the beneficiaries for additional, if additional correction is needed.
When you are confident that the information provided in OK, proceed to initiate bulk withdrawal by clicking “make withdrawal” button.
A single transaction charge applies to every bulk payment. See details of all transaction fees here
if you have any records, all the records of your bulk payment will be available in your dashboard so you can access the status of payment to all beneficiaries.
If you do not have an account yet? Register a free account on VoguePay to enjoy this and several other features.