Funding Accounts Management

How do I add a new funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the Add Account button in the top right corner to add a new funding account.
    The Add a New Funding Account page is opened.
  4. Enter the name for the new funding account in the Assigned Name field and select the currency in the Currency field.
  5. Enter the value for the Low Balance Alert Limit.
    You will be notified if funds on the funding account drop below this limit.
  6. Click the Continue button to add a new funding account.
    The New Funding Account Added page is opened.

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Note

This page contains the IBAN account code that you can use to deposit funds to your new funding account.

  1. Click the Close button.

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Note

Credit funding accounts are created only by your Nium support team

What is a funding account?

Nium Payments uses pre-funded or credit funding accounts to load money onto a virtual card. Whilst pre-funded funding accounts allow you to use only your funds, credit funding accounts enable you to use your credit allocation, depending on the configuration of your Business Account.

The funds of any funding account can be replenished via a funding source, such as a bank account.

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Note

The use of credit funds depend on the agreed terms and conditions. To get more information, contact your Nium support team.

Why wasn't my new funding account name (assigned name) accepted?

Your funding account name may already exist in our system. Choose a unique name that clearly describes your account.

What currency options are available?

Available currency options depend on the Business Account setup. Please contact your Nium support team for more information

Where can I find how much money is available in my funding accounts?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.

The information you seek is available in the Available Balance column.

What is the difference between an available balance and an actual balance?

Available Balance

The Available Balance represents the available funds to spend in the funding account. In the case of credit funding accounts, this balance also includes the remaining credit funds.

Actual Balance

The Actual Balance represents the actual funding account balance. For credit funding accounts, this balance will go in negative when credit funds are used.

How do I deposit money to a funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row that represents the selected funding account.
    The action menu is opened.
  4. Click the View/Edit menu option.
    The Edit Funding Account page is opened.
  5. Note the IBAN account code displayed on this page and use it to make a money transfer.
How do I deposit money from a bank account to a funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Linked Bank Accounts menu option.
    The Linked Bank Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row representing the bank account from which you want to deposit money.
    The action menu is opened
  4. Click the Deposit from bank account menu option.
    The Deposit From Bank Account page is opened.
  5. In the Deposit To field, select the funding account to which funds are to be deposited.
    Select the Provider's Bank Account using the Provider's Bank Account field.
  6. Enter the amount to deposit in the Amount field.
    A summary is displayed.
  7. Click the Confirm button.
    The Deposit Instructions page is displayed. This page contains all the details you need to manually make the deposit.
How do I view a funding account statement?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row representing the funding account for which you want to view the statement.
    The action menu is opened.
  4. Click the View Funding Account Statement menu option.
    The Funding Account Statement page is opened.

Optionally: Filter displayed information.

  1. Select an option in the FIlter by field.
  2. Click the Apply Filters button.
Why should I change the billing currency?

Changing the billing currency helps you secure a competitive exchange rate and lets you know the exact amount being charged to your funding source, in your selected currency, before completing a deposit. If you select a relevant currency, you will not need to guess the amount appearing on your bank or credit card statement.

Why is my currency not on the list?

Available currency options depend on the Business Account setup. Please contact your Nium support team for more information.

What fees are applicable when transferring funds?

To see the full list of charges that apply to your Business Account:

Click the Terms and Conditions link in the footer.

A list of charges that apply to your Business Account is displayed.

How long does it take for the bank transfer to be deposited?

If all information required for a bank deposit is entered correctly, the deposit should take 1-3 days to be affected. The range depends on the currency being deposited. If you'd like more information on the currency by the currency, you can refer to the section How long will my deposit take to be credited to my funding account? of the funding guide

How do I withdraw money from a funding account to a bank account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row representing the funding account from which you want to withdraw money.
    The action menu is opened.
  4. Click the Withdraw to Bank Account menu option.
    The Withdraw Funds From Funding Account page is opened.
  5. In the Withdraw To field, select the bank account to which you want to withdraw money.
  6. Enter the amount to withdraw in the Amount field.
  7. Click Confirm.
    Your withdrawal is complete.

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Note

Credit funds cannot be withdrawn from funding accounts.

Why is the rate different from the last time I changed the billing currency?

The rates we offer through dynamic currency conversion can change because of fluctuations in official foreign exchange rates.

How can I view specific funding account history?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Place your mouse pointer over the Funding Accounts menu option.
    More menu options are displayed.
  3. Click the Funding Account History menu option.
    The Funding Account History page is opened.
  4. Select or enter the search criteria in the fields as required.
    You can use default settings to search for all funding account history.
  5. Click the Search button.
    The search results are displayed on the Funding Account History page.
How do I delete an existing funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row representing the funding account you want to delete.
    The action menu is opened.
  4. Click the Remove Funding Account menu option.

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Note

The Remove Funding Account menu option may be unavailable if you do not have sufficient access rights.

A confirmation window is opened.

  1. Click the Confirm button in the confirmation window.
    The funding account is deleted.

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Note

Credit funding accounts are deleted only by your Nium support team

How do I transfer money from one funding account to another funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Click the Funding Accounts menu option.
    The Funding Accounts page is opened.
  3. Click the โ‹ฎ icon in the last column for the row representing the funding account from which you want to transfer money.
    The action menu is opened.
  4. Click the Transfer funds menu option.
    The Transfer Money Between Funding Accounts page is opened.
  5. In the Transfer To field, select the funding account to which you want to transfer money.
  6. Enter the amount to transfer in the Amount field.
  7. Click Confirm.
    Your transfer is complete.

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Note

Credit funds cannot be moved between funding accounts.

How often are foreign exchange rates updated?

Foreign exchange rates are updated every 8 hours.

How can I export my funding account history data?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Place your mouse pointer over the Funding Accounts menu option.
    More menu options are displayed.
  3. Click the Funding Account History menu option.
    The Funding Account History page is opened.
  4. Select or enter the search criteria in the fields as required.
    You can use default settings to search for all funding account history.
  5. Click the Search button.
    The search results are displayed on the Funding Account History page.
  6. Click the Download to CSV link below the activities list on the Funding Account History page.
    When the file generation process is complete, the Download to CSV link will be replaced by a Download File link.
  7. Click the Download File link to download the CSV file.
Some icons or buttons are greyed out, what do I do?

The Business Account owner sets access criteria for each user. Please get in touch with the appropriate person at your company if you have a specific question regarding your user access rights for this account.

What is a CSV format?

A Comma Separated Values file (or CSV) is a plain text file with a specific format. It stores database-style information and is often used as a universal method to transfer data between programs.

How can I view further history details of a particular funding account?
  1. Place your mouse pointer over the Funds menu.
    The Funds menu options are displayed.
  2. Place your mouse pointer over the Funding Accounts menu option.
    More menu options are displayed.
  3. Click the Funding Account History menu option.
    The Funding Account History page is opened.
  4. Select or enter the search criteria in the fields as required.
    You can use default settings to search for all funding account history.
  5. Click the Search button.
    The search results are displayed on the Funding Account History page.
  6. Click the โ‹ฎ icon in the last column for the history you want to view.
    The action menu is opened.
  7. Click the View all details menu option.
    The Funding Account History Details page is displayed
Why would I export to a CSV format?

A CSV file can be used to easily transfer data between programs.