Bill Payments - Allow payments to be scheduled
When making a bill payment using open banking direct transfer from bank account, it would be nice to be able to schedule the payment - currently there is no ability to do that.
Hitesh Panchmatia
shared this idea
Hi everyone, we have some updates in the UK with the bill payments method with Crezco. You now have more control of your cashflows with the ability to schedule bills to be paid at a future date using direct bank transfer. This helps to avoid potential bank charges for same day transactions, and missing due dates. Along with this you'll also be able to stay up to date with your payments with real-time payment status in Xero. Meaning you don't have to log into your bank to check the status of each bill payment. With an overview of all payments made using direct bank transfer, you have an accurate record of which suppliers have been paid, and when.
We know there are users from others regions also interested in the idea here and we'll share if there are any updates for expanding similar functionality in other places.
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John Kelly
commented
Agreed. Without this functionality we need to stick with our BACS payment process.
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Lucy Bartlett
commented
Yes agreed! I was really happy to see this open banking feature but then sadly disappointed that you cannot future date payments. Our bank charges £2.50 for a faster payment and 50p for a next day so its costing me £2.50 to send 24p to Xero. Its not cost effective so I won't be using it until this function is available. I almost feel that unless you have free banking (in most cases this doesn't happen unless its new business bank account) this product you've offered for the time being is pointless. I don't think you should have launched this product in Xero until you had the full functionality that Crezco offers.
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Michael van Zwanenberg
commented
100% agree. This functionality has been lost since we transferred from Wise to the Xero method of paying bills.
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Adam Tarrant
commented
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Adam Tarrant
commented
This is a critical feature.....banks charge extortionate fees for same day payments so using the direct transfer feature is currently unviable. Crezco offers scheduled payments as part of its open banking so not sure why it's not possible in Xero.
Scheduled payments is a vital part of business banking surely?!
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Michael van Zwanenberg
commented
Add a payment date for Crezco open banking payments so they can be scheduled upto 10 days in advance. This used to possible with Wise batch transfers
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Mark Spencer
commented
Businesses frequently need to schedule future payments. One example of many is scheduling payroll to ensure that staff are paid on the alloted date irrespective of public holidays (Christmas, New Year, Bank Holidays et etc).
This needs sorting please.
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Philip Hankers
commented
Unfortunately we will not use this functonality until future bill payments is an option.
Due to the excessive costs charged by the banks for same day payments I do not believe that we will be the only Xero customer not willing to incur substantial additional bank charges by using Bill payments via Open Banking / Crezco.
Crezco tell me that the functionality is available on their software but not via Xero. They say this is on the Xero 'roadmap' but are unable to say how long the road is......