FAQs:
Using your new World Account
General World Account questions
What is my username?
Your username can either be the name you used when registering with us, or it can be your email address.
Can I transfer money from my bank account to my World Account?
Absolutely. At this stage, we might ask you for further information (e.g. if the name on the payment doesn’t match the name on your World Account), but as soon as we verify that the names match you’ll be able to receive funds seamlessly.
Your receiving accounts will list all supported methods for collection and might vary per currency and account location.
Please note that we only support electronic payments – we can’t accept cash or cheques.
How do I verify/authenticate my transactions?
To reduce the likelihood of fraudulent activity, we’re using a one-time password (OTP) sms and email as a two-factor authentication (2FA) when you login, create payees, make transactions including a few other tasks on World Account.
You can update your security settings by selecting ‘My account’ once you’ve login to your World Account.
I can't receive my OTP, what should I do?
There are three ways to retry:
- Click ‘resend’ to receive the OTP code, it should take 5-10 seconds
- Change OTP verification method by clicking ‘change method’
- Upon login to the new portal, go to security settings found in the top-right dropdown bar to update your 2FA phone number and email address
Contact us at [email protected] if you face further issues.
Questions about payments
What is the difference between a 'Payer' and a 'Payee'?
Payee (beneficiary): the individual-party receiving the payment.
Payer: the individual-party making the payment.
How do I add a payer?
A ‘payer’ is the person or company paying funds into your receiving account. You can add a payer in the portal to ensure when funds are received so there is no delay. Simply follow these steps:
- Go to ‘Collection’
- Select the ‘Payers’ tab
- Add a payer
Who can I send payments to?
You can make payments to local and international suppliers and employees, as well as freelancers. You can also pay tax authorities/agents as well as yourself when you’re ready to repatriate funds. What’s more, you’ll be able to exchange funds between currency accounts.
Please be aware that there are some payments that we’re not able to accept for regulatory reasons.
In which currencies can I make outgoing payments?
We currently support 92 payee currencies:
AED, AUD, BGN, BHD, BWP, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MUR, MXN, MYR, NOK, NZD, PHP, PKR, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, VND, ZAR, ALL, BND, AOA, ARS, BAM, NPR, BMD, BOB, TWD, BSD, CRC, DJF, DOP, FJD, GEL, GNF, GTQ, HTG, KHR, LAK, LBP, MNT, MVR, NIO, PGK, PYG, SBD, SCR, SRD, TOP, TZS, UGX, XAF, UYU, XPF, RSD, AMD, BIF, CDF, CVE, GYD, KGS, LRD, LSL, LYD, GHS, NGN, IQD, JOD, OMR, KZT, ZMW
Due to sanctions, we are unable to support RUB payouts at the moment.
How long will my payment take?
The speed of your payment depends on factors including the currency you’re sending money in, the payee’s bank and country, as well as the size of the transaction.
The following currency/country combinations are normally received on the same day:
- EUR to Europe
- GBP to UK
- USD to US
- SGD to SG
- HKD/USD to HK
- AUD to AU
- NZD to NZ
For any currency/country combinations outside of the above list, please allow an additional 1-3 working days. However, in some cases, a payee’s bank may take an additional working day to credit their account. For specific currency timings, please contact us.
How can I cancel a payment?
If you’ve scheduled a payment for a date in the future, we provide an option for you to cancel the payment in advance.
Just follow these steps:
- Head to ‘Transaction Management’
- Select ‘Pending Payments’
- Hit ‘Cancel’
What if my payee details are incorrect?
If you’ve provided an incorrect account number, name, address, or payment reference before the payment is processed by WorldFirst, we may be able to change the details for you.
In cases where the payment has already been processed by WorldFirst, we may be able to issue an amendment request to the payee’s bank, although in some instances we may have to wait for the money to return in order to re-process the payment.
The course of action will be determined by the currency, bank or destination. For more details, please contact our customer service team.
Unfortunately, if a payment has been made to the wrong bank (e.g. if your payee has provided the wrong SWIFT, BIC or sort code), our only options are to wait for a return of the money or to recall the payment from the incorrect destination.
What payee details do I need in order to send money?
When adding a payee on the portal, you’ll be prompted to add the relevant details, depending on your payment currency and payee country. For example:
- Europe – IBAN and SWIFT
- Australia – Account number, SWIFT or BSB code
- New Zealand – Account number, 6-digit bank code and SWIFT
- USA – Account number, ABA routing number or SWIFT
- UK – Account number and sort code or SWIFT and IBAN
- India – Account number, SWIFT and IFSC number, reason for transfer
- China – Account number, SWIFT
- Mexico – Account number, IBAN and SWIFT
- Singapore – Account number and SWIFT
- Japan – Account number and SWIFT
- UAE – IBAN and SWIFT
Questions about collections
What is a receiving account?
Receiving accounts allow your business to receive payments from marketplaces and businesses globally. This means you’ll be able to receive funds to your World Account via bank transfer.
What is a currency account?
Your currency account is the pooled balance of all your receiving accounts. For example, if you receive 100 GBP into one receiving account and 100 GBP into another, your total GBP currency account balance will be 200 GBP.
Who can I receive payments from?
You can receive payments from a variety of sources, including:
- Online marketplaces
- Payment gateways
From time to time, we might request additional information before we can apply a payment to your account. Supporting documents can be in relation to inbound credit, such as invoices or contracts. This is to help protect your account from fraud.
To receive payments from 3rd party bank accounts, please contact your account manager. There is an additional application process to be eligible for receiving payments from 3rd parties.
Please contact us if you have any concerns or questions about other types of payments you’d like to receive, or if you need to receive funds from anywhere else.
How do I open a new receiving account?
If you need a receiving account, don’t worry, we’ll do the work for you. For existing corporate customers, you’ll automatically be assigned the below receiving accounts in the following regions:
- UK/EEA: GBP/EUR/USD
- SEA: SGD/USD
- ANZ: AUD/NZD/USD
If you need receiving accounts in additional currencies, or additional receiving accounts in the same currency, simply follow the below steps:
- Go to your ‘Dashboard’
- Click/tap the quick link marked ‘Receive’
- Add a new Receiving Account
How many receiving accounts can I open?
You can open up to 14 receiving accounts in any currency denomination we offer. If you need additional receiving accounts, please contact your Relationship Manager or our Customer Service team who will be happy to help.
Please note that your receiving account balance is only visible on a currency account level (not as a pooled balance).
Which currencies can my receiving account accept?
You will be able to collect over 20 currencies, including GBP, EUR, PLN, SEK, CZK, ILS, SAR, TRY, SGD, CHF, AED, ZAR, HKD, CNH, THB, MYR, JPY, USD, CAD, MXN, AUD, NZD
Why have I been asked to provide further information on a payment I’ve received?
From time to time, you may need to provide additional information before we can credit funds to your World Account. This is to help protect your account from fraud. When prompted, you can easily answer a few brief questions and/or supply any supporting documentation that may be required through the portal by following these steps:
- Go to ‘Dashboard’
- Select ‘Claim Inbound’
- Click/tap ‘Verify’
Whilst we review your information and/or supporting documentation the funds will be listed as ‘Unavailable’. Once we’ve completed our verification processes, your funds will be accessible and ready for use and your status will change to ‘Success’.
Managing FX deals
Where can I view my FX trades?
Any new FX transactions you carry out can be found under the ‘Funds Management’ tab as well as on the ‘Transaction Management’ page.
Your trade history can be found by selecting the ‘Historical Statements’ button on the ‘Statements’ page. This includes your previous trade history, payment history and statements.
You’ll also be able to download a record of your trade history from this page.
How can I view my payees?
Login to WorldFirst portal, and follow the steps below:
- Go to ‘Funds management’ found in top headers
- Under ‘Payee’, select ‘View all payees’
Statements
What information can I view on my statements page?
On the ‘Statements’ page, you can view all statements covering payments made from your account.
On this page, you can also search and filter by Account ID. You can also select one or more currencies and filter between money coming into your receiving accounts, money coming out of your receiving accounts, and currency that you convert between your receiving accounts.
Can I download statements for all of my transactions?
Yes, you can download statements for one or multiple currencies in PDF, XLS and CSV formats.
How can I download my statements?
Login to WorldFirst portal, and follow the steps below:
- Go to ‘Statements’ found in top headers
- Filter the time period for statements you’d like to retrieve
- Select ‘Download statements’