Payment Services to make your life easier…
We’ve teamed up with Modulr to offer a payments account, which enables a fast, secure and easy way to make and manage payments.
Integrating with Modulr enables us to provide seamless payroll workflows. The single and secure online portal allows us to make payroll payments at the same time as running payroll, saving your precious time, removing manual processes, and eliminating costly errors.
What are the benefits of our Modulr payment service?
Even if we run your payroll, you still have to manually upload payments to your online banking service, which is time consuming and unneccesary. There is a much faster and easier way!
With Modulr, our aim is to take payroll completely off your hands – preparing and managing all payments securely. Not only will it save you time – it takes the pressure off you too.
3 easy steps to payments
1 | Process Payroll as usual
We will process your payroll and send to you for review and sign off. We will then send the payment instructions to Modulr, without the need for manual payment file exporting.
2 | Payments Awaiting Approval
The person authorised to make payments is notified that payments are pending approval and logs into the Modulr portal to approve by secure mobile two factor authentication.
3 | Top up the Modulr Account
Transfer funds to the Modulr
account in one single transaction
from the primary business account. Once the account is funded,
employees can be paid in minutes.
Why choose Modulr over a traditional BACS service?
Despite the advent of real-time payment systems like Faster Payments, most payroll providers (approx. 90%) still use systems like Bacs, which operates a three-day settlement cycle for paying salaries.
The process is time consuming and potentially error prone. Payrollers must create and export batch payment files from the payroll software. The files need to be authorised and then manually uploaded to a bank portal or like us, a Bacs-approved bureau.
This clunky, highly manual error-prone process sharply contrasts with how payments are made in the rest of the economy — always-on 24×7 payments at the click of a button — and is unlikely to meet the expectations of a changing workforce made up of a growing number of temporary and casual workers that need to be paid weekly or daily, and not monthly.
If payments are held up due to slow, costly and unnecessary manual processes, temporary workers or contractors may not get paid on time, which causes unnecessary stress and extra workload for all parties concerned.
But what if there was a new, faster, more secure, transparent and automated way to process payroll that did not require batch files or unnecessary manual processes and that was tightly integrated with the software that we use day in, day out to perform complex tax and salary calculations and prepare payroll files?
Service Comparison BACS vs Faster Payments
Ready to get your payment services setup?
All sound good? It’s so easy to get setup so get in touch with your Accountant, let them know you are keen to start using our payment services and we will be in touch to kick off the simple setup steps (outlined below).