In order to make direct-to-bank payments from Payment Rails, you must first fund your Payment Rails balance. There are several options to do this, depending on the country your company is registered in and a couple other factors.
Here is how:

Go to Balances > Add Funds > Transfer Funds

Note: Only users with the Role of Owner can add funds or change the account details.

You can fund your account in a few different ways:

  1. Bank Transfer
  2. Bank Wire
  3. Direct Debit 
  4. Bill Payment (Canada/CAD only)
  5. Interac E-Transfer (Canada/CAD only)

Bank Transfer

You can fund your Payment Rails account by transferring funds from your business bank accounts by bank transfer (such as ACH, EFT, SEPA, FPS).

Just login to your Payment Rails account, select Balances, then Add Funds, then select Bank Transfer to see instructions on how to fund by Bank Transfer.


P.S Banking details don't change once entered and configured. You need to contact support for a change in your bank account.

Tip: you can add a memo or reference number

Bank Wire

Some banks don't allow you to send domestic bank transfers, so you may need to send a SWIFT bank wire (or a FEDWIRE in the US). Login to your Payment Rails account, select Transfers, then Add Funds, then select Bank Wire to see instructions on how to fund by Swift bank wire. (Also applies for FEDWIRE in the US).

Tip: you can add a memo or reference number

Direct Debit

You can enable direct debit funding of your Payment Rails account for bank accounts based in the US (USD) and Canada (CAD, USD).

To enable, simply go to Balances, then Add Funds, then select Direct Debit for instructions on how to set up direct debits. You will need to provide your business bank account information (for the bank account you wish to fund from), as well as a void check which has your company address on it.
If your void check does not display the company address, you can alternatively provide a bank statement from the past 3 months which shows the account number details and company name and address.
We will then ask you to e-sign an authorization form allowing us to pull funds from your bank account when you instruct us to do so. The Owner/Signing Officer will need to be the person to set up direct debits and e-sign the authorization form - this will need to be someone authorized as a signatory on the bank account.

There are no fees for funding by direct debit, and no fees to set it up. There is usually a clearing period for funds to clear into your account when adding by direct debit, which is 4 business days for bank accounts based in the US, and 5 business days for bank accounts based in Canada. If you would like to speed up the clearing time for funding by direct debit, please contact our support team to discuss setting this up. 

Interac E-Transfer (in Canada only)

In Canada, we support account funding by Interac E-Transfer. You can send up to $10,000 CAD within a 24 hour period by Interac to fund your Payment Rails account. This is one of the fastest ways to fund your account, as it can take from 5mins to 60mins to have funds ready to send out. 

Just login to your Payment Rails account, select Balances, then Add Funds (CAD), then select Interac to see instructions on how to fund by Interac. 

There are no fees to fund via Interac unless your bank charges you for sending Interac payments.

Please note: We can only accept funds from companies we have contracted during your onboarding after the compliance check. The funds will be returned if they are coming from another company or account.

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