PaxPay – Funding Your Account(s)

Funding your account(s)

Procedure outline

Loading your ‘Funding Account(s)’ please follow the procedure below:

  1. Instruct a wire payment transfer from your bank account to Ixaris’ bank account
  2. Notify Ixaris and Paxport by email that you have made a payment transfer to ensure prompt application of the funds to your funding account
  3. Ixaris will notify you when they have received the funds and credited your funding account

Wire transfer instructions

Initiate a wire transfer from your bank to the relevant Ixaris bank account for the currency being sent (see below).

For funds in EUR

Bank Name Barclays Bank plc
Account Name Ixaris Systems Ltd
Account Number 83488233
IBAN GB26BARC20388383488233
Swift BARCGB22
Sort Code 20-38-83

 

For funds in GBP

Bank Name Barclays Bank plc
Account Name Ixaris Systems Ltd
Account Number 00549479
IBAN GB19BARC20388300549479
Swift BARCGB22
Sort Code 20-38-83

 

For funds in USD

Bank Name Barclays Bank plc
Account Name Ixaris Systems Ltd
Account Number 87124499
IBAN GB73BARC20388387124499
Swift BARCGB22
Sort Code 20-38-83

Timing guidelines

A wire transfer initiated before 09:00 CET is normally received at Ixaris’ bank accounts on the same day. This applies to funds originating from banks within the SEPA region (using IBAN). In other cases it may take from 1-2 business days for funds to reach Ixaris’ bank account from the date when transfer is initiated.

This is for guidance purposes and depends on factors within the banking system outside of our control. To expedite transfers we recommend that you select the “same day” or “urgent” or similar option, as may be offered by your bank, when initiating the transfer.

Loading of Funding Account by Ixaris

Ixaris monitors receipt of funds on the hour. Funds are therefore loaded with 60 minutes of being received.

The latest time by which funds must be received by Ixaris to effect same day loading is 16:00 CET. Once funds are loaded Ixaris sends an email notification to the client to confirm receipt and loading of funds.

Note:

  • Funds are only loaded on confirmation by Ixaris that they have been received. A ‘proof of payment’ by the client is not accepted for the purpose of loading of funds.
  • Funds are loaded net of any bank charges. We recommend that you select the “charges to be borne by sender” option when initiating bank transfers
  • Loading of funds during weekends is not supported so please ensure that sufficient funds are received by Ixaris on Friday by 16:00 CET to cover any weekend loads.
  • Loading of funds during public Malta holidays is not supported so please ensure that sufficient funds are received by Ixaris on the previous business day. The full list of public holidays is:

 

1st January 15th August
10th February 8th September
19th March 21st September
31st March 8th December
1st May 13th December
7th June 25th December
29th June  


Also note that one should include the Good Friday as a public holiday.

Email Notification

Immediately notify Ixaris & Paxport that funds have been transferred by sending an email to both:

prefunding.solutions@ixaris.com

funding@multicommerce.net

Email Template

Please use the following template by copying it in the body of your email and complete appropriately (delete columns and update as appropriate):

Subject heading: ‘Your Company Name’ & the amount being transferred

e.g. Sun Travel / 10,000 GBP / 5,000 EUR / 1,000 USD

Email Body:

Dear Ixaris,

This is to notify you that we have transferred monies into your bank account; please see payment details below and confirm once the funds have been applied to our funding account with you:

 

Payment Currency GBP EUR USD
Amount x,xxx,xxx.xx x,xxx,xxx.xx x,xxx,xxx.xx
Bank Name Barclays Bank plc Barclays Bank plc Barclays Bank plc
Account Name Ixaris Systems Ltd Ixaris Systems Ltd Ixaris Systems Ltd
Account Number 00549479 83488233 87124499
IBAN GB19BARC20388300549479 GB26BARC20388383488233 GB73BARC20388387124499
SWIFT BARCGB22 BARCGB22 BARCGB22
Sort Code 20-38-83 20-38-83 20-38-83
Destination Funding A/C Name1 e.g. YourCompanyGBP

 

e.g. YourCompanyEUR

 

e.g. YourCompanyUSD

 

Destination Funding Account Reference1 e.g. GBP – 0RABSdkGWe6zIK

 

e.g. EUR – 0RABr_Tgp9kXTE7Y

 

e.g. USD – 0RACStIAXajquRcF7

 

Transaction Reference as per instruction given to your bank e.g.

YourCompany Funding GBP

e.g.

YourCompany Funding EUR

e.g.

YourCompany Funding USD

 

1Note: The Destination Funding Account name and reference will be provided to you by the Integration Team as part of the setup process.

*Please ensure you supply the exact information Ixaris requires as failure to do so may result in delays