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 supplier you wish to make payments to as a beneficiary in the system. You have the option to make payments directly to a business or personal account from your Voly Money account.
1. If the supplier is not in your Supplier list yet, go to Suppliers and click on ‘+ New Supplier’. Enter the name and currency, then click ‘Add’.
If the 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
4. You can add Notes or Comments at the bottom of the beneficiary creation form. Any notes will be saved as comments against the Supplier, and any files will be saved as attachments against the Supplier.
Please Note: If you are trying to add the Bank of America ABA number 026009593, it will be blocked from Voly, and you will need to retrieve the supplier's ACH number instead. This has been blocked due to a high number of payments being rejected when using the ABA number.
See screenshot below for reference.
Once ready, click Submit details. A quick verification on the bank details and account name will take place. Based on the account name check, the system will provide a result:
Account name match (the name is a match)
Close name match (potential typo)
No match (incorrect name)
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 the 3 dots at the end of the invoice you want to pay and then select ‘Add Payment’.
• 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 tick boxes on the invoices you wish to add to the batch payment.
Once you have chosen all invoices you wish to pay. Select the Voly Money Account you wish to complete the payment from.
Finally, click 'Add Payment'. This will send the payment to the approval page to await execution.
Paying a person
To pay crew gratuities 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
• 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
How to Create a Voly Money Payment
Execute a Voly Money Payment
1. Go to your Approvals tab on the side 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 cancel it. We can attempt to perform a recall on payments if you contact the account management team within the first 24 hours of the payment being made.
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.
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.