What’s in this explainer?
You’ve seen our guide on why there’s a better approach to payments than being a Bacs Approved Bureau (BAB). You've discovered that initiating payments from your accounting or payroll software via Modulr makes them instant, and reconciliation simple. But what does this look like in practice, and how do you get set up?
We’ve produced this short explainer to show just how simple it is to use Modulr, and the benefits it brings.
Processing payments with Modulr
This video shows you how Modulr makes syncing payroll and payments easy in just four steps.
- Run payroll or payments through your chosen software, as usual
- Select 'Pay by Modulr' in your payments software
- Approve pending payments on the Modulr portal via your desktop or use our new mobile payment approval app.
- Top up your Modulr account and pay employees and suppliers within minutes.
We integrate with Sage, BrightPay, IRIS, Xero, My Digital, Zeel. In short, we integrate with all the major players so there's no need for extra integration or technical work on your part!
The benefits this brings your practice:
Unlock payments that are:
Faster
Respond to last minute changes and make urgent payments with direct access to the UK's Faster Payments Scheme. Payments are settled in seconds rather than days with a typical Bacs cycle. This speed enables you to offer a completely different service to one which has to rely on Bacs.
More flexible
No cut-off times or bank holidays to add further complication. Faster Payments through Modulr can be sent 24/7/365. You’ll never again have to tell a client that their payment will arrive ‘in a few days’.
Simple
Payments can be approved in just a few clicks from the Modulr dashboard or mobile app. And they’re processed automatically, without the need to download any files or transfer to banking portals. Click, and it’s done.
Easy, cost-effective set up and management
You won’t need reems of documentation, SUN numbers or audits every three years when using Modulr. Nor will you have to pay thousands in set-up fees or even more to get the supporting software.
We have a straightforward due diligence process so you can focus on supporting your clients, as soon as possible.
Less prone to error
By removing the human element of inputting data into files, the opportunities for error are substantially reduced. No payments being sent to the wrong place or recipients accidentally being left off payment runs. Those key steps are automated, saving time and stress for your team.
Discontinuing your status as a Bacs Approved Bureau
If you're a BAB and want to stop operating this way, just choose not to renew your annual membership or BAB software when the time comes.
But you don't have to wait; you can start using Modulr through your accounting or payroll software today. Just get in touch with us, and we'll begin the process!
