What Are Batch Payments?
Batch payments are a convenient way for businesses to send multiple payouts simultaneously. Instead of initiating single transfers to each recipient, you can group them into a single batch, upload, and authorize all payments at a time.
This method is efficient, time-saving, and ideal for businesses that need to make regular (e.g. monthly) outgoing payments to multiple vendors, employees, or partners.
Who can access this service?
Batch payments service for Euro (SEPA) transfers is currently available for all OKEO clients.
If you would like to start using the Batch payments service for currencies other than Euro, please contact us at hello@okeo.com and we will provide you with the available options.
How to Execute Batch Payments?
As OKEO client, simply login to My OKEO, go to “Payments” hub and navigate to “Batch Payment” section. You can initiate maximum 100 (SEPA) transfers in one batch.
Here is what you need to do, step by step:
1. Prepare the Batch payments file
-
Download the .CSV payment file template that can be found at the end of this article.
-
Fill in the details of each payment. Example and general requirements files can be found at the end of this article.
-
Once all payment details are filled in, save the file.
2. Upload and authorize the Batch payment file
-
Log in to your My OKEO application
-
Navigate to “Payments” and press on “Batch Payment” section.
-
Choose the account from which you would like to initiate the batch payment.
-
Drag and drop the prepared file or press on “browse” and select the file from your computer.
-
When all the above steps are completed, press on “Send” and authorize the payment.
Common Issues and Troubleshooting
- File Format Errors: Ensure your batch payment file matches the required format and includes all necessary information.
- Incorrect Payment Details: Double-check recipient details to prevent payment rejections or delays.
- Insufficient Funds: Verify that your account has sufficient funds to cover the total amount of the batch payment.
- Authentication Issues: Ensure that you completed all required security steps, i.e. entering a one-time pass code.
Need Help?
If you encounter any issues or have questions about batch payments, our customer support team is here to assist you. Contact us at hello@okeo.com.