How to manage Recipients in your RBC Business account?
In this article, let's understand how to manage recipients in your RBC business bank account. The existing support articles on the RBC website can be vague and lack clarity. Let's provide straightforward instructions for managing recipients and ensuring smooth payments on your RBC business account.
- Add Recipients: To pay your employees or vendors, you need to add them as recipients in your RBC banking accounts.
- Manage Recipients: Go to the "Manage Recipients" section, where you'll have the option to add details of vendors or employees.
- Fill in Information: The 'Add' option will take you to a page where you can fill in the information and process the payment.
- Process Payments: Once the vendor or employee has been added, payments can be processed with due dates.
The amount of manual work involved in sending a payment is unimaginable. Banks make life difficult for finance teams, adding unnecessary steps to their workflow.
RBC's banking software is outdated and clunky, but Finofo offers an intuitive global AP/AR platform that lets you manage your bills, make payments to vendors, track incoming funds, and streamline your FX conversions.
Adding beneficiaries in Finofo is straightforward, and once added, there is no waiting time—bills can be processed immediately. The beneficiary addition includes an approval process for different Finofo users, adding a layer of security for accounting teams. The list of beneficiaries can be edited and updated, allowing for efficient processing of payments as needed.
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