Bank Transfers

Bank transfers allow customers to send funds directly from their bank account to a bank account. This payment method is ideal for one-off payments, large transactions, or customers who prefer not to set up recurring payment mandates.

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Create a bank transfer payment method

To create a bank transfer payment method, follow these steps:

1. Navigate to the customer account for which you want to create the payment method.
2. Under the Payment methods section, click Add bank transfer account.
3. Click Add.
4. Share the payment instructions with your customer.

Bank transfer payment methods are unique to each customer and should not be shared with other customers.

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Timing

Bank transfer timings vary depending on the country and payment scheme used.

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International payments

Bank transfers do not support direct international payment. Instead, we recommend instructing your customers to use Wise to send funds to your their bank transfer payment method.

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Automatic reconciliation

Yorlet automatically matches incoming bank transfers to customers using unique reference codes. When a payment is received:

• If the reference matches an outstanding invoice, the invoice is marked as paid
• If the reference matches a customer but no specific invoice, the funds are added to the customer’s credit balance
• If no match is found, the payment is flagged for manual review

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Remaining balances

When an incoming bank transfer cannot be fully applied to an invoice — for example when the amount doesn’t match, or when there is no outstanding invoice at the time — the unapplied funds accumulate on the payment method as a remaining balance. You can then charge that balance to settle a specific invoice or credit the customer’s balance. Remaining balances are cleared in two ways:

• Automatically — as new invoices are issued, automatic reconciliation matches the remaining balance against them and marks them paid.
• Manually — use Charge balance on the bank transfer payment method, or right-click a row on the Remaining balances page and select Charge balance to create a payment for a specific invoice or credit the customer’s balance.

Learn more about remaining balances.

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Disputes

Bank transfers are not subject to the same dispute mechanisms as card payments or direct debits. Once a bank transfer is received, it cannot be reversed by the customer without your consent. This makes bank transfers a lower-risk payment method for high-value transactions. If a customer claims they sent a payment that has not been received, you can use the trace a payment feature to investigate.

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Refunds

To refund a bank transfer payment, you must initiate a manual payout to the customer’s bank account. Learn how to create a refund. Ensure you verify the customer’s bank details before processing a refund to avoid sending funds to an incorrect account.