Making payroll payments can be a very long and inefficient process. Especially with Bacs payments you have to get everything ready ahead of the three day payment cycle. We have identified four benefits that Telleroo provides to gain flexibility around tight payroll deadlines.
Payroll is normally done through Bacs, which is a bank payment taking three days to arrive. As opposed to Faster Payments, which take a few seconds to arrive and are 24/7 around the clock. Using a Faster Payments service such as Telleroo gives you 2 more days to prepare all of your payroll documents and time sheets. As soon as you send the payments, your employees receive their money in their bank account within seconds.
You can prevent manual input errors by directly importing a Bacs Standard 18 file from your payroll or accounting software into Telleroo with the file importer. After importing you can check the payments once more before they are send.
Telleroo allows you to make multiple payments to multiple recipients with only one click. No need to manually input individual payment details.
Telleroo payments service does not have any cut-off times. Send payments when it suits you best and not your bank. Payments can be send 24/7, no matter if it is the weekend or a bank holiday. You just have to be aware that the limit for a Faster Payment per transfer is 250,000 pounds.
You are probably aware that keying in payments individually is a nightmare and that you wish you could just import a pay run for your business or clients.
This is now possible using a pay run importer like Telleroo that works with most accounting software files and banking files.
Import payments, schedule and fund, without the hassle of manually keying in your payments.