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  1. Multicurrency- Batch payments of Foreign Currency Bills.

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    173 comments  ·  For small businesses » Accounting features  ·  Admin →
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    working on it  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi team, appreciate wanting an update - I'm pleased to share the beta went well and we've now launched international bill payments for our UK customers, making it easier to pay overseas suppliers.

    Using open banking, UK businesses can now securely send money to 180+ countries including Europe (EUR), America (USD) and Australia (AUD). So you don't have to juggle multiple platforms or hidden fees. Whether you're paying a single bill or multiple bills at once, you can authorise payments prepared by your team and easily track which suppliers have been paid.

    We’re committed to new ways to expand our bill payments feature for small businesses and their advisors in other regions by leveraging new technologies, where available. I'll keep you updated of any further developments for this, here.

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    Nathan Campbell commented  · 

    I have a client who is a Company selling shoes. They have a constant stream of bills coming in from both UK and EU suppliers. The client uses their system along side their online banking to make payments to said suppliers. So they will make a payment on Xero, against their Sterling or Euro Bank account and then send the remittance to the supplier through Xero. Then send the payment to the client through their online banking. The client will pay multiple invoices off at the end of the week so the ability to pay off multiple Euro bills at once is Essential for them

    Nathan Campbell supported this idea  ·