How to Initiate a Transfer for International Reimbursements

After the expenses submitted by international users are approved, they will be grouped together in a batch as they await the next payment transfer to be initiated by an Admin.

Creating a Batch Payment

1. To create a batch payment, Admins will need to navigate to the Reimbursable Expenses page on their Admin Sidebar. 

2. Next, click the History button.  

Admins will see an overview of approved and unpaid international expenses grouped together. This section is updated in real time. This means the number of expenses and the amount that needs to be reimbursed will be updated as expenses are approved until the next transfer is initiated.

3. Click Reimburse Now.

A breakdown of expenses that require funding and the users that will be reimbursed will appear on the page. 

Initiating a Transfer 

1. To initiate a transfer, click on the Start Transfer button. This will generate payment details from Wise, including the correct exchange rates and fees associated with the transfer. The exchange rates are guaranteed for 24 hours. 

Funding Payments to Wise

Once the payment details have been generated, you must log in to the funding bank account associated with Wise to send the payment within 24 hours. There are three steps to a successful payment:

1. For the initial transfer, you will be required to add Wise as a new recipient. Moving forward, the details will be saved in your bank account, making the wire transfer process easier.
2. Input the exact amount to transfer as noted in the Amount to Send field in Abacus.
3. Input the Reference ID in the description - this is critical to include, please do not omit. 

This is an example of how it may look in your company bank account:

Real-time Status Updates

After you initiate the transfer process, you will see real-time updates for the batched payment in your Abacus account. The batch of expenses will initially move into a Processing state after the transfer is started in Abacus. You will have access to the payment details for the transfer for up to 24 hours. If a transfer is not initiated within the 24-hour window, the transfer will be automatically canceled.

Once the wire transfer is sent through the company bank account to Wise, you should see the batch update as Funded.

The batch will remain in the Processing section until all of the associated deposits are done, at which point it will move into the Completed section.