Vanliga frågor

What is the Beneficiaries option in my account used for?

You are able to create and manage a Beneficiaries list in your account in order to ease frequent transfers, improve history and traceability.

Will I have to enter the Beneficiary’s details every time I’d like to make a payment?

No, you won’t have to enter the Beneficiary’s details every time, which means you are less likely to make a mistake when entering their details resulting in payment delays and support requsts.

Will I be able to review all payments?

Yes, you can easily review all payments sent to each Beneficiary.

How do I add a new Beneficiary?

You will be able to select the Beneficiary type - individual or company - and enter the required details. If more details are needed, such as date of birth or other identifiable information, you will be notified via email.

Can I easily send a bank transfer to my own account in a bank or other financial institution?

Yes, this is quick and easy. Upon initiating a new bank transfer and adding a beneficiary, you have the option to select that the transfer is made into your own account. Choosing this option will fill your names in the beneficiary’s details. The payment will be executed faster compared to transfers sent to new beneficiaries that are subject to checks.

I have a list with many beneficiaries. Can I add an indication of my own in order to find and identify them easily?

Yes, you have the option to enter a custom name (nickname) and email in the Personal Information field for each recipient. This will let you find them more quickly and easily in your list when making a bank payment.

What happens when I add a new beneficiary or I need to update their information?

Upon adding or correcting the information of an already existing beneficiary, you will receive a push message on your mobile phone to authorise or reject the operation.

What is a Beneficiary check?

A Beneficiary check is the process where a new Beneficiary will be subject to a check on our side. Upon approval, the Beneficiary is whitelisted and enters the list with status ‘Active’. You will be able to track the status of each Beneficiary and see once it becomes 'Active'.

When will the check for Beneficiaries be done?

The check for Beneficiaries will be done at the beginning of the process. Once included in the list of Beneficiaries, it will not be subject to check for a payment initiated by you.

Will background checks be performed on the Beneficiaries?

Yes, background checks will be performed on all ‘Active’ Beneficiaries through our system without involving you. If any issues are found with a certain Beneficiary, you will be notified.

What can I do while I am on the page with the Beneficiaries list?

You will be able to set status ‘Deactivate’ if the Beneficiary is not needed for the moment, as well as change the status back to ‘Active’. You can also view the Beneficiary’s details and make payments directly to a selected Beneficiary.

What can I do with the information regarding the Beneficiary’s details?

You will be able to check payments that were made to the selected Beneficiary - successful, pending or not executed. You will also see the type and amount of each payment as well as check an activity graph showing the Beneficiary’s payment activity for a certain period. Finally, you will also be able to apply various filters to the Beneficiary details.

Will I be able to track the status of each initiated outbound transfer?

Yes, you will be able to track the status of each initiated outbound transfer in real time.

How do I make a new payment?

For making a new payment, a list with ‘Active’ Beneficiaries is displayed. You can then choose from Existing or Add New Beneficiary and select the type - an individual or a company.

What happens once I confirm the payment?

Once you confirm the payment, it enters a sequence of checks on our side.

Will I be able to track the payment status in my account?

Yes, you will be able to track each payment. Some of the payment statuses are:

1. Pending
2. Cancelled - if you confirm and reject the payment before it is sent
3. Declined - the payment is rejected by myPOS for compliance or other reasons
4. Expired - normally each payment has a period of 3 days to be sent; after it is approved on our side, if not sent successfully within 3 days, it expires
5. Information required - this status indicates that we require more details from you in order to approve the payment. You will be notified with a push notification and a mail
6. On hold - you have provided the needed details and the payment is currently being reviewed
7. Approved - the payment has passed all necessary checks on our side and is ready to be sent
8. Insufficient funds - you initiate a payment, but there are insufficient funds in your account

Will I be able to check the status and details required for each payment?

Yes, you will be able to check the status and details required for each payment and upload documents or provide any additional details, if needed.

Where will I be able to see pending sums per currency?

Pending sums per currency that are about to be sent to an ‘Active’ Beneficiary will be shown in the Total balance for each account.

What benefits does sending an outbound transfer in my account bring?

• You will be able to check the status of each payment in real time
• You will be notified if any additional information or document is required for a certain bank transfer
• Everything is centralised in the account - payment status, reports, Beneficiaries list, provision of documents and additional information
• Payment ease, excellent user experience, streamline of processes as well as no need for extensive communication over mail and phone when extra documents are required.