What Is the Agicap Payment Account?
The Agicap Payment Account is a dedicated payment solution integrated within Agicap, powered by our partner Swan, a provider of banking-as-a-service solutions. It allows you to make seamless SEPA EUR transfers to your suppliers directly from Agicap.
Why Use the Agicap Payment Account?
Using the Agicap Payment Account simplifies your payment process by centralizing your supplier invoice management and payment initiation in one place. It enhances efficiency and gives you better control over your cash flow.
Setting Up Your Payment Account
To start using the Agicap Payment Account, follow these steps:
Check Eligibility: Ensure your business meets the eligibility criteria required to open an account. Payment account owners can only have a French 🇫🇷 or German 🇩🇪 IBAN.
Initiate Onboarding: Begin the onboarding process managed by Swan within Agicap.
Fund Your Account: Transfer funds from your own bank account to your Agicap Payment Account. Remember, this is not a bank account, so you need to preload funds to make payments.
Making Payments to Suppliers
Once your account is set up and funded, you can make payments to your suppliers:
Access the Payments Tab: Navigate to the Payments tab in your Agicap dashboard.
Select Invoices to Pay: In the To Pay section, select the supplier invoices you wish to pay by checking the boxes next to them.
Review Payment Details: Verify that the payment amounts and beneficiary details are correct.
Initiate Payment: Click on Pay with Agicap Payment Account to start the payment process.
Confirm Payment: Review the summary and confirm the payment.
Track Payment Status: Monitor the status of your payments directly within Agicap.
Important Notes
The Agicap Payment Account supports SEPA zone transfers for EUR (€) payments only 🇪🇺💶.
No overdrafts, cash deposits, or cash withdrawals are possible with the payment account ❌.
Ensure sufficient funds are available in your payment account before initiating payments.
Payments are processed within the SEPA standard processing times.
💡 Tips
User Permissions: To access and act on the Payments tab, you must be an admin or have the Prepare payments permission.
Check Beneficiary IBANs: Ensure the IBANs of your suppliers are correct to avoid payment rejections.
Monitor Your Balance: Regularly check your payment account balance to ensure you have enough funds for upcoming payments.
Q&A ❓
How do I top up my Agicap Payment Account?
Transfer funds from your own bank account to your Agicap Payment Account IBAN provided during setup. This ensures you have sufficient funds for your supplier payments.
Can I use the Agicap Payment Account for currencies other than EUR?
No, currently the Agicap Payment Account only supports SEPA EUR transfers within the SEPA zone.
What should I do if a payment is rejected?
If a payment is rejected, check the beneficiary's IBAN for accuracy and ensure you have enough funds in your payment account. You can verify IBANs using online tools like:
Is the Agicap Payment Account considered a bank account?
No, the Agicap Payment Account is a payment account and not a traditional bank account. You need to fund it from your own bank account to make payments.
Who can I contact for issues with my payment account?
For any issues related to your payment account, you can contact Swan directly or refer to our support resources within Agicap.