Bank transfers let you send money directly from your Soldo account to employees, suppliers, or any third party, perfect for when a card payment isn’t possible.
It’s a simple, flexible way to manage everyday business spending and reimbursements, all from the same platform.
Why use Bank transfers?
- Reimburse employees quickly: You can refund out-of-pocket expenses without leaving Soldo.
- Pay third parties easily: Whether it’s a supplier invoice or a one-off payment to a client, you can send money by bank transfer and even set up and save regular payees for faster repeat payments.
- Move funds back to your business account: Transfer unused balances from Soldo to your company account to stay on top of your cash flow.
How to get started
Only Super admins can make bank transfer payments by default, but getting set up is fast and straightforward:
- Add your company bank account as the default payee
- Add payees for future payments
- Make your first bank transfer to a third party
- Reimburse employees for expenses when card use isn’t possible
Need more flexibility? Consider the Bank transfer access add-on
If you're on our Unlimited plan, you might consider the Bank transfer access add-on. With the Bank transfer access add-on, you can give approved users the ability to make bank transfer payments safely and within your company rules.
This is especially useful for:
- Empowering teams to make payments without routing everything through finance
- Giving employees another controlled way to spend in addition to Soldo cards
- Setting limits, rules, and approved payees to stay in control
- Delegating temporary access when someone just needs it for a short time
You can choose to give access to individuals or groups, based on your needs. It’s a secure way to streamline payments and keep your team moving.
FAQs
Who can make payments?
By default, only Super admins can make bank transfer payments. Admins can add payees, but can’t make payments unless they’ve been granted access through the Bank transfer access add-on.
What currencies are supported?
Bank transfers support Faster Payments (FPS) in GBP and SEPA payments in EUR. Transfers can only be made in the currency of your main wallet.
Can I make international payments?
You can send money within the SEPA zone or via UK Faster Payments. Transfers outside these areas aren’t currently supported.
What happens if I send money to the wrong account?
If you send a Faster Payment to the wrong account, it can’t be cancelled or recalled. You'll need to contact the recipient directly.
For SEPA payments (both Instant and Credit), contact your Customer Success Manager or email businesssupport@soldo.com. We’ll help investigate the transaction.
How much do bank transfers cost?
Fees vary by plan. Check our pricing page for full details.