Multi-Currency Accounts

Multi-Currency Standard Accounts allow you to send and receive a wide selection of currencies backed by the global Corpay funds-in and pay-out network. Funds sent in to, and payments out of Standard Accounts are not in your business’s name but in the name of a Corpay entity.

Our Multi-Currency Named Accounts give you the ability to open accounts in your business’s name (as the beneficiary), granting you access to multiple currencies (where available), with an IBAN or account number unique to your business.
Note: Multi-Currency Named Accounts are not available to all parties in all regions, and may not be available and some types of organizations may be unqualified. Please speak with your Account Representative for more information.

The Multi-Currency Accounts page lists all of the bank accounts and Multi-Currency Accounts that you have.

For more information on Multi-Currency Accounts, see Using Multi-Currency Accounts.

Multi-Currency Accounts

The Multi-Currency Accounts section includes the following information:

• Description—The type of account.
  • Named—Multi-Currency Named Account (Named Account). Account(s) held at Corpay in a client's business's name.
    Note: Only Named Accounts users will see this type of account in the grid.
  • Standard—Multi-Currency Standard Account (Standard Account). Account(s) held at Corpay for the client. The SSIs for this account will include Corpay (or a Corpay entity) as the Account Holder or Beneficiary and payments out from this account will come from Corpay (or a Corpay entity).
• Account—The account name.
• Currency—The account currency.
• Ledger Balance—The amount that was in the Multi-Currency Account at the end of the previous business day.
• Pending Balance—The amount in the Multi-Currency Account that is allocated to cover payments that have been scheduled but not posted (transactions either on hold or still being processed).
• Available Balance—Ledger Balance value minus Pending Balance value. This is the amount that is available to use.
• Account Number—The Multi-Currency Account number. Click the hyperlink in this field to view the Activity Overview popup. For more information, see Viewing Multi-Currency Accounts activity.
• Settlement Instructions—When you click the hyperlink in this field, it opens a pop-up that displays the complete Settlement Instruction details including the bank name, address, and routing information, as well as the client details and account number.
  
  

For more information on assigning permissions, see Creating or editing a user profile.

To rename a Multi-Currency Account

1. From the Actions dropdown list on the left side of the account, choose Rename or click the Rename icon.
   Note: If you do not have permission to assign nicknames, you will not see the Actions dropdown.
   
   
   
   A Rename Account slide-out appears.
   
   
   Note: If the selected account has already been assigned a nickname, it will appear in the Nickname field.
2. In the Nickname field, enter the name you want to assign to the account.
   The only special characters allowed are dash (-) and underscore (_).
   
   
3. Click Submit.
   The new name is displayed in the Multi-Currency Accounts table.
   Note: If the Nickname is longer than 18 characters, hover over the Account field to view the full name.
   
   
   
   It is also displayed wherever the Multi-Currency Accounts can be selected, that is, when paying into the Multi-Currency Account or settling from a Multi-Currency Account.
   
   

To change the user-assigned name back to its original system-assigned name, choose Rename from the Actions dropdown, and in the Rename Account slide-out, click Reset.