Withdrawals

How to withdraw funds from TL Pay to your bank.

You are able to easily withdraw funds from your TL Pay Account to any whitelisted Beneficiary bank accounts you have added (see funding for more detail on beneficiaries).

Withdrawals are facilitated by Fast Pay, therefore the maximum amount available to withdraw in a single withdrawal is limited to £999,999.00.

You can Withdraw funds as a one off, or you can withdraw at regular intervals through withdrawal scheduler.

One Off Withdrawals

To set up a one off withdrawal of funds, you will need to navigate to your 'TL Pay Account' and the 'Withdraw' tab:

In the 'Withdraw' tab you will see a list of whitelisted beneficiary accounts that you can select and set up a withdrawal to. To the right of this you can see your available balance for withdrawal and an 'i' icon which explains what funds are available for withdrawal.

It's important to emphasize that partner-to-partner settlements will not be available for withdrawal during the initial 24-hour period following settlement.

You are then able to input the amount you wish to withdraw and a personal reference (optional) if you wish.

Once your withdrawal is submitted, your TL Pay balance and transactions activity will update and the funds will be sent to your chosen beneficiary bank account.

Scheduled Withdrawals

Travel Ledger now offers Scheduled Withdrawals, allowing you to automate the transfer of funds from your TL Pay account to your business bank account.

To schedule a withdrawal you will need to:

1. Go to "Withdraw" in your TL Pay account.

2. Select "Create Schedule"

3. Enter the withdrawal amount, frequency (e.g., daily, weekly, monthly), and start date/time of day. A custom reference can also be provided

4. Select your business bank account you wish the funds to withdraw to

5. Confirm the details and click ‘Create’ to schedule your withdrawal.

Additional withdrawal configurations

You can also choose the following options when configuring your withdrawal

• Withdraw all available funds – This will execute the withdrawal to take all available funds from TL Pay account

• Leave minimum balance of – This instruction will always ensure that you have the desired minimum amount left in your account when a withdrawal for any amount takes place. If this option is selected without a withdrawal amount specified, it will take all available funds except for the minimum amount you chose.

Schedule Rules:

• Withdraw only when funds reach – This rule will only allow a scheduled withdrawal to be executed if your available funds reach a specified threshold. i.e. if you choose £10,000 as the threshold, when the schedule is ready to run and you only have £9000 in available funds, no withdrawal will be initiated.

Managing Scheduled Withdrawals

You can easily view, edit, or delete your scheduled withdrawals at any time under the "Current scheduled withdrawals" grid.

This feature provides a convenient and efficient way to manage your funds on Travel Ledger. Please note that only one scheduled withdrawal can be active on your TL Pay Account at any time.

NIUM Account Banking Rules for UK and EU Transactions

For UK accounts:

• Amounts equal to or less than £1 million, Faster Payments Service (FPS) ensures real-time transactions.

• Amounts exceeding £1 million, Clearing House Automated Payment System (CHAPS) guarantees same-day transactions, provided they are initiated before the 15:30 GMT cutoff time for payouts.

For more detailed information, you can refer to the Payout Playbook page: Payout Playbook page.

For EU accounts:

• Amounts equal to or less than EUR 100,000 are handled through SEPA Instant for immediate transactions.

• Amounts exceeding EUR 100,000 are processed via SEPA Standard, ensuring same-day transactions if initiated before the 14:00 EET cutoff time for payouts.

For more detailed information, you can refer to the Payout Playbook page: Payout Playbook page.