Expenses

Caxton Payments Platform Update

Thanks to Matthew Downward, Head of Corporate Accounts and Parker Holland, Product Manager who hosted this Product Platform Update.

Click the image to watch the replay

Here is the transcription of the questions asked after the product demonstrations:

Are there any updates coming for the business app?

We finished earlier this week a prelaunch of our retail app and, so the business app is actually coming along very quickly here pretty soon after that.

Can I check any references I’ve used on a transfer?

Go under your account history, transfers, and along there you can select the relevant transfer to the beneficiary from that you'll be able to see a drop down which will show you the reference that you used on that transfer

For any transfer deposits made to the account from a third party, under the history tab is where you'll find all pretty much all account activity from trades you've booked and transfers you've made out and also payments into your account.

Under the deposit page you can filter by currency dates and amounts and you can really drill down into a specific incoming payment that you're looking for but you will be able to pull that into a CSV format and upload it into any accounting software as well.

How do I get a new PIN number for our cards as the old one isn't working?

If you contact your customer service representative they'll be able to help you out with resetting that. If you do just want to change it from the old one any UK ATM you should be able to change it from there as well but if it’s because the old one isn’t working, you can give us a call or email us and we'll be able to help you out with that specific situation.

What are the trading limits and online fees?

So online you can trade anything up to a hundred thousand with a fee value of 100 pounds. An additional fee is only applied if the trade is under a thousand pounds and that would be a 10 pound fee applied to the trade.

How do i use the Caxton account on the mobile app?

So for the business app, it’s really its only for the card users if you're an administrator or owner you will just use it on the web but for the business app you just log in using the same credentials that you log into the website with.

Can I add a reference for payment made?

References are added typically at the transfer stage when you’re creating the payment to your beneficiary if it is critical they reference needs to be added, sometimes your dedicated account manager might be able to intervene so you should contact them, but typically it would be at the transfer stage when you apply the references yourself.

What’s the yellow unassigned button under some of my cards?

So what that means is not every card that you create actually has to be assigned to a user. If you assign it to a user that means they're going to have online access and they're gonna be able to go and see how much is left on the card, be able to view the pin, but if you don’t want to give someone access to that you don’t have to you as the administrator or the owner can go in you can get the PIN for them and you can just give it to them tell them what their limit is and then they don’t have any online access. So for example, so the card is still active as long as it says active and then you can just give it to someone for a one-time use or maybe just for a small amount of time and that way you don’t have to worry about giving them online access to the platform. If you don’t want to.

Upcoming Developments

I wanted to touch on just a couple of things that we’ve got planned coming up. So one thing that we're looking to do is we have a lot more integrations with open banking. That means for expense management that our platform is going to become a little bit more card agnostic.

You’ll be able to use our cards, the Caxton cards for expense management just as you have been doing or you can also add outside cards through the open banking - so let’s say some executives have an Amex or cards with another provider you'll be able to log in get access to that account and then use our expense management platform to go through and organize all those expenses as well

In addition to that we’re also expanding our bulk payments. When you log in on the web you'll see where it says payroll up at the top, we're really expanding a lot into that space with an alternative to BACS – faster payments. Anyone that does payroll, you know you've got to have everything submitted at least three days beforehand - with Caxton you don’t have to do that.

We’re making improvements to make it even faster. Most of the time you're going to be able to do make payments the day before and that can help with cash flow, it gets you two more days every time you’re doing payroll.

We’re working with specialists right now to make sure that we are compatible with all major payroll systems, so that’s coming, as well as the ability for you to upload files and give access to a third party. For example, let’s say you use an accounting firm to do payroll for you, you can give them access to input everything for you and then it will just be waiting there for your final approval.

They are some of the major things that are coming up that should make everyone’s lives a little bit easier with the platform and make everything’s faster for you - that’s our goal.

Getting Help

Feel free to reach out to your account manager or one of the account management team, they will be able to give you a one to one walk through the platform cover any question you might specifically have in terms of your requirements for the currencies that we offer on the platform and also just get a bit of guidance on the market as well so that will also give you an additional tool to use as well. We are available all the time and we would be happy to help you out

Contact Details

Contact your Account Manager or