Business Partner Prefunding Guide

Transcription

1 Business Partner Prefunding Guide This document covers the process to prefund the business Account, by the approved Business Partner. Prefunding of the business account is required to enroll cardholders and fund an existing My Choice Corporate Card. Account may be prefunded by any of the below three options: 1. NatWest Bank Transfer /Wire Transfer 2. Fast Bank Transfer 3. Instant Bank Transfer Process Geography Bank Transfer to Prefunding Account Wire to NatWest Bank Fast Bank Transfer Instant Bank Transfer Available only to upgraded (KYB2) Business Partners Wire funds to Wave Crest account held in NatWest Bank, Gibraltar Funds may be wired from anywhere. Transfer funds to local bank account, provided and processed by WorldPay for Wave Crest Limited set of countries Please login to your account to view available countries. Authorize transfer from your bank account to Wave Crest Merchant Account Limited set of countries Please login to your account to view available countries. Transfer between Prefunding Accounts of different currencies Authorize Wave Crest through to move funds between your Prefunding Accounts N/A Fee Bank charges No fee Applicable. Fee charged will be displayed on screen during funds transfer process. 0.5% margin on bank rate for the day Delivery Speed Daily Cut Off (for same day posting) Balance Update Time 2-3 working days*, if wire is initiated outside SEPA region Same day if wire is initiated within SEPA region on working day* Funds must be received at NatWest by 3PM GMT Between 4PM to 6PM GMT 1-2 working days* Instant any time Same day if the is received on working day* N/A N/A must be received by 3PM GMT N/A N/A Between 10AM to 11AM GMT and 4PM to 6PM GMT *Working days are Monday through Friday, except for recipient bank holidays. Page 1 of 5

2 Important Notes: Deposits and currency conversion requests are processed and applied to your Prefunding Account daily Monday through Friday, except for recipient bank holidays. Click here to view 2016 Gibraltar bank holidays. The payments by all modes of transfers will be applied to your Prefunding Account same day upon receipt, only if the Reference Number and other information provided are correct. Please make sure to keep enough balance to cover for weekends and bank holidays since it will not be possible to fund your account or process currency conversions during these days. We recommend maintaining a balance of average weekly loads with 25% margin in your accounts at any given time in order to avoid failures due to insufficient funds especially during weekends and bank holidays. 1. Wire Transfer to NatWest Bank Business Partners may wire funds to the Wave Crest Account in NatWest Bank, quoting their Unique Reference Number and Business Partner ID as the description of transfer. Funds will be available the same day in the Prefunding Account provided the wire is received at NatWest Bank Gibraltar before 3PM GMT. Login to your Business Partner account at Select NatWest Bank Transfer Note down the Beneficiary Name, IBAN, Swift and Reference Number as per table below NOTE: If you are an API-integrated Business Partner, you may view this information at your own program portal instead of at Receiving Institution Beneficiary Information Other Instructions Description Name on Account IBAN Number Swift Code Originator to Beneficiary Information Special instructions Wire Inputs Wave Crest Holdings Ltd Visa MyChoice Prefunding Acc Log into your account to view the IBAN RBOSGIGI Your WaveCrest Business Partner ID Log into your account and visit Home page to view your Business Partner ID. Your Company name Please use the name registered with Wave Crest. Unique Ref Number Log into your account to view your Unique Reference Number. For exp: The Prefunding Account to be credited is different from the Originator. Page 2 of 5

3 Wire / Transfer funds to the Bank Account as per the details noted Please make sure the Business Partner ID, Name and Unique Ref Number are provided in the description of the transfer or in the Other Instructions field. This is required for a seamless credit of your prefunding account. b) Once the wire transfer is initiated, please send an from your registered address with the wire confirmation number and amount to: partnerfunding@wavecrest.gi c) You will receive an notification confirming the account deposited, and you will see the amount reflected in the balance of your Prefunding Account. 2. Fast Bank Transfer Business Partners may use Fast Bank Transfer option to transfer funds to a local bank accounts in different countries provided and processed by World Pay for Wave Crest. Login to your Business Partner account at Select Fast Bank Transfer. Select your country from the country drop-down. The page loads with the instructions for Fast Bank Transfer. Select a Bank from the Available Banks list. Follow the instructions to make deposit into our partner bank account. NOTE: If you are an API-integrated Business Partner, you may be accessing this feature through your own program portal instead of through Select Country Select Bank Instructions for Fund Transfer Page 3 of 5

4 Please make sure to provide the unique Payment Reference generated on the instruction page as the Payment Reference, Details of Payment or Reason for Transfer, as may be applicable, during the transfer process. This is required for a seamless credit of your prefunding account. b) You will receive an notification confirming the account deposited, and you will see the amount reflected in the balance of your Prefunding Account. 3. Instant Bank Transfer Business Partners may choose Instant Bank Transfer to fund their Prefunding Account instantly. Login to your Business Partner account at Select Instant Bank Transfer Select your Country and the Banking Method (Service) as per the screenshot below Fee, if applicable, will be indicated for the transfer. Click on Continue to proceed. Choose the amount that you would like to transfer to the Prefunding Account and proceed. You will be navigated to your Bank network page. Provide your Account ID and Account password to complete your transaction. NOTE: If you are an API-integrated Business Partner, you may be accessing this feature through your own program portal instead of through Page 4 of 5

5 b) You will receive an notification confirming the account deposited, and you will see the amount reflected in the balance of your Prefunding Account. Transfer of funds between Prefunding Accounts in different currencies This section covers the process to convert and transfer funds from Business Partner s Prefunding Account in one currency to Prefunding Account in another currency. a) Steps to Convert Send an to partnerfunding@wavecrest.gi with the Business Partner ID, amount, and currency to be debited and the currency to be credited. Please make sure the Prefunding Account to be debited has sufficient funds. If you wish the conversion and transfer to be effected the same day, please make sure to send your request by 3PM GMT on a working day. Currency conversion requests received after 3PM GMT will be processed the following working day between 10AM and 11AM GMT. Page 5 of 5