·2 min read
With a batch payment you put dozens of payments in one file, import it into your bank and approve everything at once. For a transport company that pays many carriers every week or month, that saves hours of typing and prevents mistakes.
What is a batch payment?
A batch payment (also payment batch or bulk payment) is a group of transfers you submit to your bank at once. Usually this is done with a SEPA payment file: an XML file in the pain.001 format with, for each payment, the name, IBAN, amount and a description.
How it works
- Create the payment file in your accounting package or other software.
- Log in to your bank's business online banking and choose the option to import a payment batch or payment file.
- Check the number of payments and the total amount.
- Approve the batch. With an account that requires two signatures, a second person also has to approve.
Rabobank, ABN AMRO, ING, Knab and bunq all support batch payments for business accounts. The exact steps, format and costs differ per bank; check your bank's website.
What to watch out for
- Check the IBANs beforehand. A wrong IBAN means a payment that bounces or goes to the wrong person.
- Use a recognisable description, such as invoice number and period.
- Mind the maximum number of payments per file: some banks accept smaller batches than others.
- With a new bank or new software, run a small test batch first.
- Record which invoices are in which batch, so you can see later what has been paid.
How Charterportaal helps
Charterportaal gathers all your carriers' invoices into one payment run and creates the payment file for your bank, with the account numbers checked. Your carriers can see when they will be paid, so you no longer get calls about it.
Frequently asked questions
What is a batch payment?
A group of transfers you submit to your bank at once, usually as a SEPA payment file (pain.001). You approve all payments in one go.
How do I import a payment batch at Rabobank, ABN AMRO or ING?
Create a SEPA payment file in your software, choose the option in your business online banking to import a payment file or batch, check the number and total and approve the batch. The exact steps differ per bank.
Does a batch payment cost money?
That differs per bank and per plan. Check the fees for your business account.