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We’re here to help you and your business make money simple.
The Equals Money account supports multiple currencies. Some currencies can be used for certain features only.
The 20 card-supported currencies are: GBP, EUR, USD, AUD, CAD, CHF, CZK, DKK, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, TRY, ZAR.
The Equals Money accounts offers a multi-currency IBAN, which supports the following 38 currencies: AED, AUD, BBD, BGN, BHD, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, HUF, ILS, JPY, KES, MWK, MXN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR, ZMW.
Outbound wire payments can be made in the following 61 currencies:
AED, AUD, BBD, BDT, BGN, BHD, BWP, CAD, CHF, CNY, CZK, DKK, ETB, EUR, GBP, GHS, GMD, HKD, HUF, ILS, INR, JOD, JPY, KES, KRW, KWD, LKR, MAD, MGA, MUR, MWK, MXN, MZN, NGN, NOK, NPR, NZD OMR, PGK PHP, PKR, PLN, QAR, RON, RWF SAR, SEK, SGD, THB ,TND, TRY, TTD, TZS, UGX, USD, XAF, XCD, XOF, ZAR, NAD, ZMW.
You can find all our available currencies here.
Owners and admins can add people to the account. To add a new person to your Equals Money account, please sign in and go to the “People” page of your account. At the top of this page, you’ll see a button that says “+Add People”.
Once you click on this, you’ll be asked to add some information about the person you wish to add. We’ll need to know their name, email address and you’ll need to assign them an account role.
Your company account must always have an active Primary owner. Only one person within your company can hold this at any given time. The Primary owner has the same permissions as an Owner, but they cannot be deactivated. The role can be transferred to another active Owner, by the current Primary owner.
Owners have view and edit access to all functionality in the platform. Owners also have access to Account settings, where they can activate/deactivate certain features.
Admins have view and edit access to all functionality in the platform, with the exception of view only access to Account settings.
Payers have the ability to add beneficiaries and make payments from your account. They do not have access to any settings or permissions.
Viewers have view access to all functionality in the platform, except Account settings. Viewer’s do not have any edit access, nor can they make any transactions, within your company account.
Accountants have view and edit access for spending activity, including statements and transactions. They also have access to manage Annotations and Integrations in Account settings. People with the accountant role cannot have their own Individual card.
You can assign Users to Individual cards. Users cannot view or edit anything at account level, or make wire payments.
Once you have selected a role, you will be able to choose whether or not an invitation is sent out to them immediately. In most cases, you can simply invite your staff as soon as you add their details on the platform. We give the option to invite them later for situations where you may prefer to invite that at a more convenient time, for example, while you are meeting with them or onboarding a new member of your team. You will be able to invite someone later by selecting them on the People page and clicking “Send invite” on their profile.
The next screen will ask you to add a job title, employee number and work phone number, which is optional. This may help you, and other members of your team identify people on your account.
The person you are adding will receive an invite email with the subject line “You've been invited to Equals Money”. This invite will include a link to a page allowing them to set up a password and then access your account.
If the person will need to be assigned to a specific balance to draw money from, assign them to a balance or create a new one.
Your Equals Money account provides you with your own multi-currency current account. To add funds to your account balance simply send money from your bank to your own unique account details, in any of the 38 supported currencies.
You can load your main account balance from the "Add money" option, which exists on all pages of the account other than the People page.
You will be given the option to add money in the same currency or convert currency. If you want to send the same currency to your balance you will be shown your unique account details for that balance which you can use those to pay directly into your account.If you choose to convert currency, you will be able to choose the currencies you want to pay in, and what you want to receive in your account, along with the rate the money will be exchanged at. Once you have confirmed your order, you'll be shown payment details.
You can look at any exchange orders you've placed by going to the "Transactions" page of your account. If you select the transaction you will be able to download a confirmation of the order.
If you wish to add money to one of your Shared balances, go to the "Balances" page, click "View" on the relevant balance tile, and then go to the "Manage" tab.
You can add money by making a transfer to the account details listed under "Payment details for Account balance".
To top up a card on the online platform:
If there are sufficient funds in your main account balance, the order will complete immediately. If there are insufficient funds in your main account balance, you need to arrange a bank transfer.
If you need to arrange a bank transfer payment please note that payment must come from a company bank account under your name (we cannot accept third party payments, cheques or cash paid over the counter in a bank).
Please note that we process payments every hour, on the hour between 9am and 5.30pm Monday-Friday.
We recommend virtual cards for making any type of payment that you know will always take place online. As you can quickly and easily set up new virtual cards, you can assign one to each payment type, for example, you might want a virtual card just for your software subscriptions and another for online marketing spending. This allows you to monitor separate payment types easily. In addition, physical cards are always assigned to one person, whereas you can allow a whole department to use one shared virtual card, or assign one card for a specific project that involves many teams in your organisation.
Please sign in and go to “Account settings” and then choose “Annotations and integrations” from the page that appears. Choose the Accountancy Integrations tile, and you will be able to select Xero on the next page.You will then be taken to a new page where you will be asked to sign in to your Xero account. Xero will then take you through a few screens asking you to confirm access to the account. Once confirmed, you will be taken back to your Equals Money account.
Next, you will need to map your bank feeds from Xero. Please click the “Connect” button on the Integrations page. For any currencies you hold in Balances on Equals Money, you will need to assign a bank account in Xero, or create a new one.
Once you’ve linked your balances and bank feeds and clicked continue, we’ll ask you what date you’d like to sync your transactions from. You may choose a date in the past or in the future. Once you click confirm on this page, you’ll be all set up!
Transactions will sync across daily after midnight. As always, our friendly team are available to help with any questions.
This allows you to fix a current exchange rate for a transaction up to 12 months in advance, protecting you against any negative market movement. You can find out more about forward contracts on our blog.
For all queries related to your online account, please contact us via live chat or email firstname.lastname@example.org.
If you’re looking to buy currency over the phone, please contact one of our currency experts on 020 7778 7500 Monday - Friday, 8:30am to 5:30pm.
You can use Shared cards to pay for online transactions where Mastercard is accepted as payment. We offer both prepaid and debit cards. If you find a merchant that does not accept prepaid cards, please get in touch.
If you have forgotten your password, you can change it here: https://app.equalsmoney.com/forgot-passwordIf you are able to access your account, you can change your password from within your account. Please follow these steps:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation.2. Select “My details”.3. Choose “Password” and follow instructions from there.
In most cases, you can simply invite your staff as soon as you add their details on the platform. We give the option to invite them later for situations where you may prefer to invite them at a more convenient time, for example, while you are meeting with them or onboarding a new member of your team.
Any single card can hold up to £150,000 at any given time. However, you can only top up a card with a maximum of £10,000.00 per top up, but this can be done up to 15 times in a day.
If you have a business account with us you have the option of providing a work number. You can change this on your account page.
Please follow these steps:1. Click on the name at the top of your account page.2. Select “My details”.3. Scroll to the end and select “Profile information”.You will be able to edit and save your work number here.
Please log in to your account and go to “Cards” from the menu on the left. If you are on our mobile app this will show at the bottom of the screen. On this page, you’ll be able to toggle between individual and shared cards.
All shared cards are virtual rather than physical. Therefore to order an individual physical card, please choose the Individual cards option and select “Create card”.
Please note that you will need to have the role of Primary Owner, Owner or Admin in order to create a new card.
First, please choose who to order the card for. You order for yourself or someone else. If you do not see the person you need on the list, please first go to the “People” page of your account to add the person to your business’s account.
After selecting the cardholder, you’ll be asked if you would like a physical card ordered. You will need to choose the delivery address (normally the company’s registered address) and set a PIN.
The card should arrive in around 3 to 5 working days.
The delivery address will be confirmed when the card is ordered. If you wish to check the delivery address after ordering the card, please go to the “Cards” page and then select the card. A panel will appear on the right which lists the address that the physical card has been sent to.
Please go to the “Cards” page and select the card. A panel will appear on the right. You’ll see the balance the card draws from under “Balances and spending limits”.
Please go to the “Cards” page and select the card. A panel will appear on the right. Near the bottom of this panel, there is an option to “View transactions for [name on card]”. This will take you to the transactions page of your account which will be filtered for transactions from that card specifically.
Pausing a card temporarily stops transactions from taking place. You can resume the card at any point. We recommend you pause the card if you think it has been mislaid.
For security reasons, please only activate a physical card once it has arrived with you in the post. The named cardholder, or someone with the Owner or Admin role on your account will be able to activate their card via their account.Please go to the “Cards” page and select the card. A panel will appear on the right. Under the image of your card, you’ll see a box with this link “Click here to activate your card”. You will need to click this option and enter your password.
Only the named cardholder can see their PIN. Please go to the “Cards” page and select the card. A panel will appear on the right. Under the image of your card, you'll an option to “View PIN”.
You'll need to enter your account password in order to see your PIN.
No, only the named cardholder can activate their own physical card via their account.
The card is valid for 4 years from when you order it.
Once you’re signed in, choose the Cards tab from the menu on the left. You’ll see a “Create card” button at the top left-hand corner of this page.
Please sign in and go to “Account settings” and then choose “Annotations and integrations”. Choose the integration you want to manage.
To unmap an account, please click Manage and you’ll be able to see all your bank feed. Click the three dots on the right of any of your mapped accounts to bring up the option to unmap them.
Please click here to get started. We’ll need to ask you a few questions about you and your requirements before your account is set up.
If you’re a cardholder, controller or company controller, you can permanently cancel a card (whether it’s been activated or not) by changing its status to “Customer closed” on the online platform or by contacting us.
To change a card’s status to “Customer closed” on the online platform:
If you’d like to contact us for assistance, please call 020 7778 9302, (Monday to Thursday, 09:00 - 17:00 & Friday 09:00 - 16:00), excluding bank holidays. Alternatively, email email@example.com.
Shared cards are virtual cards which are not assigned to specific people and cannot be uploaded into Apple pay. They should be given a name specific to their use case or merchant, for example “Online advertising card” or “Zoom subscription”.
We aim to process your payment on the same day we receive the funds. Depending on the value date, time of day and currency it could take up to three working days to credit your beneficiary.
If you would like to confirm the timeframe for your payment, please contact us via live chat.
Yes, you can spend from any of the 21 card supported currencies: GBP, EUR, USD, AUD, CAD, CHF, CZK, DKK, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, TRY, ZAR. Just make sure you have enough funds in the required currency before making a purchase.
You can set limits on cards via the cards page of your online account. You can set limits for daily, weekly, monthly or lifetime use as well as single transaction limits. Simply select the card from the “Cards” page and click on “Spending limits” on the panel that appears. Progress trackers are available via the ‘card inspector’ to show card spending against the limits set. Any card transactions that exceed set limits will decline.
You can order an unlimited number of Shared virtual cards.
Shared cards can be paused temporarily via the cards page of your online account. Once you have requested a card to be paused you will receive a confirmation message confirming the card has been paused and the card will be greyed out. You can choose to resume the use of paused cards in the same way as you paused the card.
We recommend shared virtual cards for making any type of payment that you know will always take place online. As you can quickly and easily set up new virtual cards, you can assign one to each payment type, for example, you might want a virtual card just for your software subscriptions and another for online marketing spending. This allows you to monitor separate payment types easily.
Please sign in, click on Cards from the menu on the left, select your card and then click on the card details button (which has an eye icon). You’ll be asked to enter your password before your card details are revealed. Shared cards spending from your Account balance can only be viewed by the Primary owner, Owners or Admins.
Shared cards spending from your Account balance can only be viewed by the Primary owner, Owners or Admins.
Please sign in, click on “Cards” from the menu on the left and select your card. Under “Spending from” you’ll see the name of the balance assigned to the card.
Shared cards can be cancelled once paused via the cards page of your online account. Please sign in, click on Cards from the menu on the left and select your card. Please choose “Review and edit card settings”. The option to cancel the card will show on this menu. Please be aware this cannot be undone.
Please go to the “People” page of your account and click the “+ Add people” button. You will be asked for some information about the person you are adding, and the role they will have in the system.
If you wish to remove a person from your account, for example, if they have left your business, please follow these steps:1. Go to the “People” page of your account. 2. Select the person you wish to remove.3. Press “Edit”4. Scroll down on the panel that appears and click deactivate.Someone who has been deactivated cannot access your business’s Equals Money account. It is possible to reactivate a person after they have been deactivated.
You will be able to see a list of all the people on your account on the “People” page of your account. Anyone who has been deactivated will have a small red “x” next to their profile picture/initials. Anyone without this “x” is able to sign in and access the account to the extent their role allows.
To create a new team for your organisation:1. Go to the “People” page2. Click on the “Teams” tab at the top. 3. Click the “Create team”You’ll be able to give a team name and specify who should be in it. You can also add and remove people from the team after it has been created.
To add a profile picture for your own account, click on the name shown at the top of the account. This will either be your name if you are a personal customer, or the name of your organisation. Then select “My details”. The first option on the list that appears will allow you to upload an image. This image will show next to your name on the “People” page.To add an image for your organisation, click on the name of your organisation at the top of your account and then select “Account settings”. Choose the “Business details” option to add an image, such as a logo.
To change the address on your account:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation. 2. Select “Account settings” from the options that appear.3. Select “Addresses”.Here you will be able to delete or add an address. You will need to have an Owner or Primary Owner role to do this.
You can change your email address on your account page. To change your email:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation.2. Select “My details”.3. Choose “Email address” and follow instructions from there.
You can change your mobile number on your account page. To change your mobile number:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation.2. Select “My details”.3. Choose “Mobile number” and follow the instructions from there.
You can change your marketing communication preferences on your account page. Please follow these steps:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation.2. Select “My details”.3. Choose “Communication preferences”.4. You will be able to tick or untick the types of communications we offer.
You can choose a dark or light theme for your Equals Money account.Please follow these steps to change your theme:1. Click on the name at the top of your account page. This will either be your name, or the name of your organisation.2. Select “My details”. One of the options on this page will allow you to toggle between dark and light theme. This only affects your own page.
If you have a business account with us you have the option of providing a job title. You can change your title on your account page. Please follow these steps:1. Click on the name at the top of your account page.2. Select “My details”.3. Scroll to the end and select “Profile information”.You will be able to edit and save your job title here.
Yes, if you're an existing payments customer and do not have access to an online account, please speak to your account manager or get in touch with our team.
Currency hedging is a mechanism to help businesses manage cross-border currency exchange risk by locking in rates now for a date in the future. This provides some certainty during times of market turbulence. Vanilla options, participating forwards and bespoke solutions are our most widely utilised currency hedging solutions. Check-in with your Equals account manager to see how we can be of assistance or read our blog on currency volatility to find out more.
We partner with Assure Hedge (UK) Limited to provide our customers with this product. Assure Hedge (UK) Limited is authorised and regulated by the Financial Conduct Authority (firm reference number 783837) and is a company registered in England and Wales (number 10723112). Registered address is 45 Eagle Street, London, WC1R 4FS, UK.
A spot trade is a one-off transfer using the live exchange rate for your chosen currencies. The payment will be made as soon as possible.
These are spot contracts mirrored by a forward, used for hedging and facilitated securely through one of our expert dealers.
The right, but not the obligation, to buy or sell at a given price within a set time frame. Offering flexibility to adjust to the markets.
These allow you to get a secured, protected rate while still allowing beneficial moves on a predetermined amount.
Bespoke options allow you to have our experts take the time to learn your business and create bespoke options for your FX needs.
A limit order allows you to decide upon a target exchange rate that you want to achieve. If your chosen rate is hit, we’ll execute your payment for you.
Stop loss orders allow you to limit your loss if the market takes a downturn by agreeing a rate when we should sell your currency.
Due to the volatile nature of the currency market, entering into a forward contract requires some financial commitment from you in the form of a deposit which is held on account until your final draw down. Deposits are always payable within one business day of entering into a forward contract.What currency should I pay the deposit in?You can pay this deposit either in the currency you are selling, in which case we will reduce the amount owed to Equals at the end of the contract, or in the currency you are buying in which case we will return the full deposit to you on successful completion of the contract.
How much deposit will I need to provide?
The percentage and value of the deposit we require you to hold against the contract will be shown on the platform and in your confirmation.
What is an additional deposit?
Occasionally you may be required to pay additional deposits (also called a ‘variation margin’) if there are unfavourable currency movements against the contracts you have with Equals.For example if your variation margin terms are 3% then every time the market rate moves against your currency pair by 3% we will contact you to request a minimum deposit of 3% to bring your position back to the initial deposit level.
We will then contact you for further deposit for every 3% the exchange rate moves against you. Deposit amounts will be held on account for you and paid out/back if the rate moves back in your favour or on completion of the contract. Any additional deposits must be received within one business day of Equals making the request otherwise the trade is at risk of being closed with any loss incurred being invoiced to the client.
Additional deposits are calculated like follows: (this is an example only and does not reflect a contract rate being offered by Equals)
A client buys 300,000 CHF at the exchange rate of 1.2625 for £237,623.76 GBP on a 4-month forward contract with a required deposit of 10%. The client pays £23,762.38 GBP to hold as a deposit at Equals.
The exchange rate has since moved to 1.3005 [+3%]. The current value (also called mark-to-market) of 300,000 CHF is now £230,680.51 GBP. This would require the payment of an additional deposit. Equals would calculate the additional deposit as follows:
• Decline in value of Forward contract: £6,943.25 GBP
• Additional deposit amount required to meet 3% margin call: £6,943.25 GBP
• Total Deposit held after margin call is met: £23,762.38 GBP + £6,943.25 = £30705.626 GBP
The People page will allow you to view the list of anyone else you’ve given permission to manage your account. If you would like to add someone to your account who you are happy to make transactions on your behalf and speak with us about the account then please speak with our team.
If your user takes more than two weeks to click the link in their invitation email, the link will expire. If this happens, please simply click on their entry on your People page, and click on the option to re-invite your user.
There could be a range of reasons for this. We would recommend you first try to add the person again as it could be simply a connection issue. If you continue to have problems, please contact our team or your account manager directly.
Yes. If you deactivate a user you will still see their name listed on the People page. If you select their entry, you’ll see that there is an option to reactivate them. If a user has access to multiple accounts they will continue to have access to these.
We recommend you deactivate someone on your account if they leave your business or move into a role where they no longer need access to the Equals Money account. Deactivating a person will mean that person can no longer access your account.
It's no longer possible to set up an account on Equals Spend, however, we have good news! You can now set up an account for managing your business's expenses and payments needs on our new Equals Money platform.
Please speak with our team on 020 7778 9302 (Monday to Thursday, 09:00 - 17:00 & Friday 09:00 - 16:00) or email us on firstname.lastname@example.org.
To load your main account balance, you must be a company controller on your account:
You’ll then receive Equals bank details and a unique reference number. Use these details to transfer the money to us.Our team processes payments on the hour, every hour from 9am - 5:30pm, Monday to Friday.
To make card-to-card transfers, you must be a company controller on your account.
On the online platform:
You can only transfer between cards in the same currency. If you get stuck or need help with card-to-card transfers, please get in touch.
A company controller has full access to your company account. They can see everyone’s cards, their transactions, their balances, approve or reject top-up requests, and control the available funds on the main account balance.
A controller on the account can only see the details of the individuals assigned to them by the company controller. This is usually someone that manages a team such as a head of department.
To deactivate a user, you must be a company controller. On the online platform:
The user’s account will immediately be suspended and they will no longer have access to their account.
First, pause the card on the Equals Spend app until you’re 100% sure it’s lost. If you pause the card, it cannot be used for transactions and you can resume it again if it turns up.
If you’re a cardholder or company controller, you can report the card lost or stolen:
Remember, by reporting the card as lost or stolen, we will automatically cancel it and issue a replacement. If there were funds on the old card, it will automatically be transferred over to the new card.
To report the card lost on the Equals Spend app:
To report the card lost on the online platform:
To view your transactions sign in via the Equals Spend app or the online platform:
To annotate or add a receipt to a transaction:
This will add your receipt to the transaction. If you have added the wrong receipt to a transaction, please get in touch with a company controller to edit this for you.
Card balances update every time you sign in to, but the transaction list updates overnight. So any payment you make today will appear on your card balance but won’t appear on your statement until tomorrow (or the next working day).
You must be a company controller to amend receipts uploaded to a transaction. On the online platform:
If you have blocked your card due to entering your PIN number incorrectly, please contact the Equals Spend team and we can unblock your card.
Make sure you make a chip and PIN transaction within 48 hours of having your card unblocked or your card will automatically be reblocked.
Your new card should arrive in around 3-5 working days.
You can withdraw £2,000 (or its equivalent in foreign currency) from an ATM every 24 hours.
However, different ATM providers might set limits on how much you can withdraw per transaction. For each transaction, we will only charge a £1.50 ATM withdrawal fee but some ATM providers might charge their own fees.
If you would like funds returned to your company bank account, please email us:
Make sure you use the email address that’s registered to your Equals account so we can validate your request.
We can refund funds in your account balance free of charge. But there is a £10.00/€10.00/$10.00 administration charge to lift funds off a card. If you have multiple cards (in the same currency) we recommend transferring the funds on to one card to minimise the cost.
To request a refund, please get in touch with our friendly team.
You must be a company controller to renew a card. Company controllers can renew a card up to two months before it expires.
To renew a card on the online platform:
You should receive your new card in 3-5 business days.
To view the balance on your Equals Spend account:
As a default you’ll see your GBP balance from the oldest date first.
To see your USD or EUR account balance, just select this in the drop-down box under currency.
To expand the number of results displayed per page, change your preference at the bottom of the page.
You can also export the data to Excel as a CSV file.
To add a new user to your Equals Spend account you must be either a company controller or a controller on your account. On the online platform:
1. Select “Users”
2. Click “Add a new user”
3. Enter the new user’s details, including a unique email address and their date of birth
4. Select “Add user” at the bottom.
5. Keep the “role” as “user” if they do not require administration rights. “Company controllers” have full access to the account while a “controller” can only see the details of the individuals assigned to them by the company controller. This is usually someone that manages a team such as a head of department.
Adding a user doesn’t automatically order them a card. If the new user needs a card, on the online platform:
1. Select “Cards”
2. Click “Order a new card”
3. Follow the prompts
If you do not use any of the cards on your Equals Spend account for any merchant transaction for 24 months, your account balance will begin to be charged. You will be charged up to £50 from your sterling balance, €50 from your euro balance and $50 from your dollar balance every month.
You will only be charged for the currency balances you have in your account. You will not go into a negative balance. If you do not hold any funds in a particular balance, you will not get a charge to that balance.
Example: You have €10 remaining in your account balance and you haven’t used any of your cards in a full 24 months. You have no money in a Sterling or US dollar account balance. The fee will debit the €10 in the 25th month of the dormancy, and no further fee will apply after that.
If you want to talk to us about this fee, please get in touch and we’ll be happy to discuss your account with you.
We are not covered by the Financial Services Compensation Scheme. Instead, the issuers, Valitor, have segregated your funds in a safeguarding account with Citibank. This means those funds would be separated from our other assets in the event of our insolvency and used to repay you and other clients. Any money on your card is held in a safeguarded account held by the card issuers (Valitor Limited) chosen banking provider (Citibank). For more information please read our blog article.
We recommend you only order physical cards if you need them for making transactions that require a physical card to be present with the person spending.
There are a number of advantages to virtual cards: They can be created and ready to use in a matter of seconds.
• There is no risk of misplacing the card
• It is not necessary to keep track of the card’s location and keep it in a secure place
• There is no environmental cost from the plastic involved in producing a physical card
Yes, if your assigned role on your business’s account is “Primary Owner”, “Owner” or “Admin” you will be able to order a card for yourself or anyone else in your business.
Most cards take around 3 to 5 working days. They are sent via Royal Mail 1st class post and therefore delivery timeframes can be affected by any delays in the postal service.
Please go to the “Cards” page and select the card. A panel will appear on the right. At the bottom of this panel, you have the option to “Review and edit card settings”. If you select this, you'll see an option at the bottom of the next page to cancel.
Please go to the “Cards” page and select the card. A panel will appear on the right. At the bottom of this panel, you have the option to “Review and edit card settings”. If you select this, you see an option at the bottom of the next page to cancel. Once you have cancelled a card you will need to order a new one.
Bank feeds let customers automatically import bank transactions from Equals into Xero. This eliminates the need to import transactions manually. Once a you have connected a bank feed, statement lines appear in your bank account in Xero ready for you to reconcile each day.
The access to the Faster Payments scheme is through a subsidiary of Equals Group Plc, Spectrum Payment Services Limited. Spectrum Payment Services Limited is authorised and regulated by the Financial Conduct Authority to provide payment services (FCA No. 504547).
We’ve had a lot of feedback from our customers about our Equals Spend platform and how they use it, as well as the challenges they have for their businesses. We wanted to create something that directly addressed those business challenges, and the best way to do that was on a brand-new platform.
As we are authorised and regulated by the Financial Conduct Authority to provide payment services, we are required to carry out a KYC (Know Your Customer) check which is NOT a credit check just to identify you and where you live.
We always work to process all applications as quickly as possible, and are usually able to process applications within 24 hours if all the information we need is submitted on your application form.However, the exact time it takes can depend on the complexity of your application. As we are authorised and regulated by the Financial Conduct Authority to provide payment services, we are required to carry out KYC (Know Your Customer) checks, which can take longer for some businesses. We will always communicate regularly with you during the process so you are kept fully informed of the progress of your application. Please always feel free to talk to us if you have any questions.
We sometimes require business documents to confirm what your business’s activities are if you do not have a website or any online presence.
To close your account, please speak to your account manager directly or contact our team via the details on our Contact page.
Anyone with an account can have any of the following roles:
Viewers have view access to all functionality in the platform, except Account settings. Viewers do not have any edit access, nor can they make any transactions, within your company account.
To create a Shared balance, go to “Balances” and then choose the “+ Create Balance” option.
You will be asked to give the balance a name and choose which parent balance it will draw from. The balance you create will only have access to the currencies available in the parent balance.Next, you’ll be asked to choose whether or not you’d like Shared cards to be able to draw from this balance.Lastly, you can toggle which currencies you would like to be available in your new balance. You will still be able to edit the currencies once the balance has been created.
Go to the Balances page to see the balances you have access to. Click on “View” on the relevant balance tile, and you’ll be taken to the page for that balance.
Halfway down this page, there are some tabs, with “Manage” at the end. If you select “Manage”, you’ll see a box headed “Manage currencies”. Click “Edit” on this tile and you will be able to toggle currencies on and off.