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Xero Pay with Wise will be removed on 26 February 2024.

Indi Tatla

October 27, 2023

"Xero Pay with Wise," a feature designed for small businesses using Xero, which will be discontinued on 26 February 2024. Existing users can continue to use this feature for free until its removal, but it is no longer available for new subscriptions.

Xero Pay with Wise offers a straightforward and secure method for paying multiple supplier bills directly through Xero, eliminating the need for a payment file. The process involves using a Wise account as a clearing account, where submitted bill payments from Xero are stored and subsequently paid out to suppliers once the funds have been transferred from the user’s bank account. It is important for users managing multiple organisations in Xero to have a separate Wise account for each organisation to ensure smooth operations.

To prevent transaction duplication, the Xero Pay with Wise feature is recorded separately in Xero from any Wise business bank account feed, in case the user utilises one. The feature allows payments to any UK bank account that accepts bank transfers, but it only supports payments in Great British Pounds (GBP) as multicurrency transactions are not supported. Additionally, bill payments made using Xero Pay with Wise will expire after 10 days if the funds have not been transferred from the bank account to the Wise account. The article also advises against including payroll employee payments in batch bill payments, recommending instead that users process a pay run for such transactions.

In summary, while Xero Pay with Wise provides a convenient solution for paying multiple supplier bills, users need to be aware of its limitations and the upcoming discontinuation date. Proper account management and adherence to the specified payment procedures are crucial for a seamless experience.

Read the original article here.

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Growth, go to markets and tech, over 16 years in a startup or scale up tech company.

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Xero Pay with Wise will be removed on 26 February 2024.

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