You will need to complete the following steps to be able to make direct payments from your Voly Money Accounts.
Create Beneficiaries
You will need to add the Contact/Supplier you wish to make payments to as a beneficiary in the system. You can also save the crew member's bank account details to make individual payments from your Voly Money account.
1. If the contact/supplier is not in your Supplier list yet, go to Contacts and click on ‘+ New Supplier’. Enter the name and currency, then click ‘Add’.
If the contact/supplier is already on your supplier list, jump to step 2.
2. In the list of suppliers, click on the 'i' alongside the supplier/ person you want to save as a beneficiary.
3. Click on ‘Create beneficiary’
See our Supplier Currencies List to see which Currencies you can make direct Payments to.
4. Select the bank country, then enter the supplier bank details:
1. Bank identifier: SWIFT/BIC/Sort Code or ACH/electronic wire routing (US payments)
2. Account identifier: IBAN or account number
3. Beneficiary address: this should be the registered address of the account holder you are paying funds. You can also switch the toggle to indicate whether you are paying into a business or personal account under the Beneficiary Details
Once ready, click Submit details. A quick verification will take place and if approved, you will now be able to make payments to the beneficiary. You will know if beneficiary details have been approved as you will see our banking partners' B4B logo on the supplier name.
Edit or Delete Beneficiaries
1. Go to Suppliers
2. Click on the 'i' alongside the supplier you wish to edit
3. On the Supplier Details page, click ‘Edit Beneficiary’, on the top right-hand corner.
Please Note: You will not be able to edit the beneficiary details if there is a payment awaiting execution.
4. Edit the Details you wish to change
5. Once updated select 'Submit Details' and the beneficiary details will then be checked and updated just like creating a new beneficiary.
Create a Voly Money Payment
Paying a single invoice
•Go to Invoices
•Click ‘Add Payment’ alongside the invoice
• Select the date and amount you wish to pay
• In Account, select your Voly Money account (from the ‘Voly Money Wallets’ section)
• Add the payment reference, then click ‘Add Payment’. The status of this invoice will go from 'Unpaid' to 'Pending'. Meaning it is waiting for step 2 on the Approvals Page.
Making a batch payment
To make a payment to a supplier that relates to more than one invoice.
• Go to Suppliers
• Alongside the supplier, click ‘Batch Pay’
• Select the Voly Money account you wish to pay from.
• Click ‘Pay’ on the invoices you wish to add to the batch payment. Then, click ‘Save Payment’.
Paying a person
To pay crew salaries for example. You might not want to raise an invoice for each person, so here you can make a direct payment to their bank account.
• Go Suppliers and add your crew member as a new beneficiary (To create new beneficiaries, see p.15).
• Alongside the crew member profile, click ‘Payment/Refund’
• Select the date and amount you wish to pay.
• In Account, select the Voly Money account you wish to pay from. Then click ‘Add Payment’.
The transaction status is now ‘Pending Awaiting Execution’ – you now need to execute the payment
Execute a Voly Money Payment
1. Go to your Approvals tab in the top navigation bar and scroll down to ‘Voly Money payments awaiting execution’.
2. Click ‘Pay Now’ alongside your payment. You can make multiple payments by ticking the payments you wish to include and clicking Pay Selected or Pay All.
3. Fill out the payment details:
4. Click ‘Execute’. Once executed, you won’t be able to recall the payment or cancel it.
5. The status on your invoice(s) has now changed to ‘Payment pending’.
Payment Confirmation
Once the payment has been executed, the invoice status will change to Pending. Once we have received confirmation that the funds have left the sending bank, the payment will show as confirmed and your invoice as Paid.
You can check the payment details and confirmation in your Voly Money account, on the Banking page. Any SWIFT payment fee will show as a separate line in your Voly Money account.
You will also be able to click on the transaction line to see the payment details. You can also download the Remittance Advice which will include the payment confirmation details that you can send to the supplier.
Still have questions?
Send us a message through the chat icon in the web app, email us or keep looking through our Help Centre for more information.