Transactive provides virtual bank accounts with a flexible and efficient fee model.
Virtual Bank Accounts
Transactive accounts are essentially bank accounts, identified via standard IBANs.
Transactive accounts are visible within corporate/retail banking platforms as recipients and senders of funds.
Because of their visibility within the banking world, Transactive accounts simplify the entire flow of payments, from establishing reserves for sending payments, to establishing an easy to understand and easy to use model of accepting incoming payments.
Transactive accounts can be topped up using your current corporate banking platform. Simply transfer funds to your Transactive account or send a wire transfer to a bank account we designate and we'll transfer it into your account for you.
Payors can send funds to your Transactive account using electronic banking or an ATM. Your Transactive accounts are updated and you are notified as soon as payments arrive.
When a payment is sent or received, the appropriate fees are determined and immediately debited from your designated fee account(s).
Real-time account balances allow you to determine your overall cash position and subsequent funding requirements at any point during your business cycle.
Fees differ by several criteria:
- type of payment - inbound or outbound
- type of payment event - ie: payment creation, payment settlement
- level of service provided - the clearing system ultimately used
Your Transactive account will clearly list and explain each fee charged.