How do I set up scheduled payments on the Verto platform?
To schedule a payment from our platform, you have two options: Exchange Now or Payout.
If using Exchange Now, input the amount you would like to convert. You may need to adjust your Wallets to ensure you have sufficient funds.
If using Payout, select either 'Send: Wallet to Bank' or 'Send: V-Pay', and input the amount you would like to payout.
Once you’ve completed these initial steps, locate the calendar icon next to the ‘Continue’ button to proceed.
From Exchange Now
From Wallet Payout
3. Click the calendar icon, and you will see a new section appear to the right of the icon, as pictured below:
From Exchange Now
From Wallet Payout
4. Enter the scheduled date and time for when you intend to send the payment. Please keep in mind that this must be at least one day ahead of the current date.
From Exchange Now
From Wallet Payout
To finish, simply click Continue. Please be aware that this will lock in your funds.
How does scheduling a payment work?
By scheduling a payment, Verto enables you to select a future date and time for completing your payment. This feature allows you to plan ahead by pre-loading future payments, making sure that you are organised ahead of time!
Please note: Any currency exchange is carried out immediately and cannot be cancelled - only the payout is scheduled.
Can I schedule an FX conversion?
Unfortunately, FX conversions cannot be scheduled. Only payouts can be scheduled, and any FX conversion needed for a payout is executed immediately at the rate at the time of creation.
What happens if there are insufficient funds in my account on the scheduled payment date?
Verto withdraws the required funds from your account right when you create the scheduled payment. This means that you will not have any risk of insufficient funds in your account on the date of payment, as we will already have ensured that you have everything you need!
Can I schedule a payment on a bank holiday or weekend?
Payments can only be scheduled to be completed on week days. Any payments scheduled for a bank holiday will be completed on the next business day.
In which timezone are payments paid out?
All payouts are scheduled and booked using Verto's home timezone of GMT.
Please allow for some variance in payout times due to processing & bank turnaround times.
How do I cancel an upcoming scheduled payment?
In order to cancel a scheduled payment, contact us at support@vertofx.com and we will assist you.
Heads up! User drive cancellation is in development and will be available soon.
How do refunds work for scheduled payment?
If you cancel a scheduled payment, any funds locked away for the transaction will be refunded to your Verto wallet.
If Exchange Now was used to make a conversion for the cancelled transaction, the refund will be in the converted currency.
How far in advance can I schedule payments?
You can schedule payments up to 6 months in advance.
Can I edit a scheduled payment?
Yes, you can edit the date and time of the scheduled payment up to 1 hour before the payment is due to be completed.
Please note: You cannot edit the amount, currency or beneficiary of a schedule payment. You will need to cancel the payment and re-attempt it if you need to change these.
Are there any fees for scheduling payments?
No, there are no additional fees for scheduling payments. Any payment fees related to your pricing plan will be applied as normal.
How many scheduled payments can I have active at a time?
There is no limit on the number of scheduled payments you have active at any given time.
What currencies can I schedule a payment in?
You can schedule a payment in most of our currencies except for: INR, BDT, PKR, MAD, GHS, PHP, IDR, BRL, MYR and EGP
Can I schedule payments from the mobile app?
Not yet! However, this feature is in development and will be available soon.
Will I receive notifications when scheduled payments are processed?
Yes, you will receive notifications when your scheduled payments are completed. You will be notified via email, ensuring that you're informed about the status of your transactions