Payhawk partners with Yapily to enable you to link and unlink company bank accounts from over 2,000 banks located in 19 countries to your Payhawk account.
What it means to link a bank account to Payhawk
By linking a company bank account to your Payhawk currency account, you facilitate the process of depositing funds in the currency account - when the bank account is linked, you can initiate a deposit directly from the Payhawk system without having to log out and make a bank transfer from your bank system.
However, the deposit is not automatically initiated by Payhawk on your behalf as Payhawk doesn't have direct access to the bank account. For example, you can initiate a deposit of EUR 10,000 from Payhawk by clicking on the Add funds button. This will create a bank transfer between your linked bank account and your currency account in Payhawk. Once the transfer is completed, you will see the funds as an incoming transfer in the currency account.
How are your cards topped up from Payhawk?
All physical and virtual cards that have their funding source set to the respective debit or credit Payhawk currency account feed on the funds that are available in it. Each card transaction deducts the amount of the available funds in the currency Payhawk account to which the card is linked.
You can control the card spending by setting monthly card limits to the linked cards. You'll be able to set the recurring monthly card limits even if the available funds in the Payhawk account are not sufficient to cover them as the card limit corresponds to the amount this card can use from the account. For example, if the card limit is set to EUR 1,000 but in the EUR Payhawk account to which the card is linked there are not enough funds to cover it, the card availability will display only the amount that is available in the account.
You do not need to add funds for each card separately. For example:
You can fund your EUR Payhawk account with EUR 10,000; then, issue 5 cards with a limit of EUR 1,000 each and 5 cards with a limit of EUR 100 each.
All cards will have direct access to this EUR 10,000 in the Payhawk currency account but will be able to spend only the amount that is set as a limit - either EUR 1,000 or EUR 100.
Once one of the cards makes a transaction for an X amount, this amount will be withdrawn from the EUR 10,000 in the Payhawk currency account, but this operation will not affect the other cards as long as there are enough funds in the Payhawk account to cover their limits.
Linking bank accounts to your Payhawk account
Note that each bank provider delivers their own user experience on logging in and authorizing the linking of the bank account. For this guide, you'll be using Revolut.
For debit or credit accounts that already have linked accounts to them:
In the Payhawk web portal, go to Funds.
In the Linked accounts section, click on + LINK NEW.
In the dialog that opens, select the country of your bank and the bank itself.
As a result, you'll be redirected to the website of the financial institution and prompted to log in and provide consent to link the account. Follow the instructions of your financial institution.
For debit or credit accounts that have no linked accounts to them:
In the Payhawk web portal, go to Funds.
Click on the + Add funds button.
In the dialog that opens, click on Link a bank account.
Select the country of your bank and the bank itself.
As a result, you'll be redirected to the website of the financial institution and prompted to log in and provide consent to link the account. Follow the instructions of your financial institutions.
After the bank account is successfully linked, you will be able to see your new funding source in the Linked accounts section with its available balance, currency, and account number or IBAN displayed.
Unlinking bank accounts from your Payhawk account
To unlink a bank account from your company Payhawk account:
From the Payhawk web portal, go to Funds.
Select the desired linked bank account.
Click on the three dots menu and select the Unlink account option.
In the dialog that loads, click on Confirm to confirm your decision. As a result, the unlinked account is no longer visible in the Linked accounts section.
