Multiple Bank Accounts
What is this feature all about?
We now support multiple bank accounts for contractors working through Remote. We also started allowing contractors to provide bank accounts outside their country of residence as it is a common requirement among contractors. We currently support adding bank accounts in any country that is a SEPA* member, the UK, the US, Canada, Australia, India, South Africa, New Zealand, Mexico, United Arab Emirates and Japan.
*Austria, Andorra, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland
Why is it important?
We want to provide more flexibility to contractors so that they can choose where they would like to receive their payment.
How does it work?
- You must have at least one bank account set up in order to receive payments
- When you invoice the employer, you can select whichever bank account you'd like your payment deposited into
How does this change impact me?
Adding this new feature meant that we needed to run some migrations to support it. While we improved the overall experience, it means that we will require existing contractors to update their bank account information. The information you provide will be verified, which means if there are any issues with your bank details, we can provide you immediate feedback, resolve it faster and make sure you get paid sooner.
If you don't update your information, it may delay your next payment. Please update your information as soon as you can.
Logging to the platform you will find an notification telling you that you should update your bank account information.
In the example below, the user has an existing bank account in US Dollars. We need the user to provide the country of that specific bank account, so that we can then determine the specific account details that are relative to the country, such as account number and routing number (for the US).
When the user clicks edit, they can update some basic information to identify the account and then the user needs to select the bank account country.
Once the user has selected the country, they will need to complete the required bank account information. Given that currency is local to the country we will ask for local details. In this case Bank name, Account Number, Routing Number, and whether it's a checking or savings account.
Great! The account was verified successfully, and we can make payments to the account.
You can add multiple accounts if you wish.