Making payments to 3rd parties

How do I make a payment?

You will need to onboard into Primary FX to have access to 3rd party payment capability.

If you haven't set up your Primary FX account, you can begin onboarding here.

You can make a payment here, or by clicking "Move funds", then "Pay someone" from the Primary dashboard.

What currencies can I make payments in?

Primary supports payments in the following currencies by default: AUD, USD, EUR, GBP, NZD, CAD, JPY.

If you require support for a payment in another currency, please reach out to your Primary account representative.

What are the payment cutoff times for same-day processing?

Ensure you have entered any payments by 4pm AEST for same-day processing. Any payments made after 4pm AEST will be processed the following day.

How do I track payment status and confirmations?

You can track payment status and confirmation by selecting the relevant payment detail screen here.

You will also receive an email notification from Primary once your payment has been processed.

How do I cancel or amend a payment?

Up until your payment has been processed from your Primary FX account, you can cancel your payment.

If you wish to cancel your payment after it has been processed, please reach out to your Primary account representative urgently and we will attempt to reverse the payment.

How do I setup and manage payees?

Manage your payees here. Primary supports payees in G10 currencies by default. If you require support for a payee in another currency, please reach out to your account representative.

Note that you will need to have your payees full address as well as their account details in order to make a payment

Is there an approval flow for payments?

Approvals are enabled by default for 3rd party payments. If there are more than 2 users with admin status in your Primary instance, a payment instruction will require another user to approve the payment prior to processing.

To change the approval flow for 3rd party payments, navigate to Settings , then Approvals - from there, you'll be able to change the number of approving users, or disable approvals.

What fees apply to 3rd party payments?

Fees payable on 3rd party payments will depend on your fee schedule. Please refer to your agreement with us to understand any fees we will charge to you in relation to 3rd party payments.

How are FX rates determined for cross-currency payments?

Primary determines FX rates from the mid-market rate, then applying the spread set out in your fee schedule to the mid-market rate.

Primary charges no hidden fees on FX movements.

How do I compare your rates to my bank's rates?

We're happy to help you compare our rates with your bank's rates. Please reach out to your account representative to view a comparison.