Salary and Supplier Payments

Save Time

• Full integration with Sage 50cloud Accounts, Sage 50cloud Payroll and Sage 200cloud to ensure that data flows seamlessly between systems – no need to worry about manually importing and exporting data, or manually keying information into banking systems.
• Payment information is digitally transmitted between systems, removing the need for you to manually key in or upload data to another banking platform, and when a payment is made, the data is automatically reconciled, too.
• Beneficiaries are easily synchronised with the platform, meaning that you don’t need to worry about manually keying them.

Take Control

• Keep on top of your workload with Future Dated Payments.
• Role-based access controls allow you to customise which users have which privileges.
• Real time visibility of your e-wallet, outstanding payments and payments made.

Be Secure

• Allow sensitive employee and supplier payment information to be handled in a secure and encrypted platform, reducing the risk of compromised data.
• Role-based access controls allow you to customise which users have which privileges.
• Maintain a continuous digital audit trail of money moving out of your business.

With a range of pricing options, there's a plan to suit you.

Bespoke Package:

Please contact us on 0191 479 5968 to discuss bespoke pricing based on higher payment volumes.

Pricing Explained

*If you connect Salary and Supplier Payments mid-month, you will be charged a pro-rata portion of the monthly fee. This fee will be charged at the beginning of the following month.

**In the event that you process more payments than those included in your monthly package, you will be charged a per-transaction overage fee. You can move between packages if your payment volumes change

From time to time, we may advertise a promotion or special offer. If we do so, it will be subject to the promotion terms set out on our website and in our promotional literature. After the expiry of the promotional period, the monthly price for your Salary and Supplier Payments service will revert to the price plan chosen by you during the application process and all other standard charges will apply to your use of the service.

About Salary and Supplier Payments

Who is Modulr?

Modulr is at the forefront of new possibilities in business payments. Modulr’s payments platform is designed for businesses that routinely make a lot of payments.

Where is my money held and how can I protect it?

Your money will be held in an e-money account, on the Modulr platform. The Financial Services Compensation Scheme is not applicable for this Account. No other compensation schemes exist to cover losses claimed in connection with your Account. As a responsible e-money issuer, Modulr will ensure that once it has received your funds they are deposited in a safeguarded account, specifically for the purpose of redeeming Transactions made from your Account. In the event that Modulr become insolvent, funds that you have loaded which have arrived with and been deposited by Modulr are protected against the claims made by creditors.

Is Salary and Supplier Payments authorised by the Financial Conduct Authority (FCA)?

Salary and Supplier Payments is provided in conjunction with Modulr Finance Ltd, which is an Authorised Electronic Money Institution and is regulated by the FCA (Register Reference: 900573).

Where can I find help with my account?

Please visit our help centre for any Salary and Supplier Payments related queries. If you still need help, you can call us on the numbers listed.

What version of Sage Accounts and Sage Payroll products do I need in order to qualify for Salary and Supplier Payments?

To maintain the highest levels of security, it is recommended that you use only the latest versions of Sage Accounts and Payroll products. However, some older versions will still be supported.

Application and Eligibility

What eligibility checks do you perform when I apply for Salary and Supplier Payments?

Modulr complete 'Know your customer' and 'Know your business' checks. These confirm your identity and the identity of your business. For further details please see Modulr’s Terms of Service and Privacy Policy.

Account Funding

How do I add funds to my Salary and Supplier Payments account?

You can fund your Salary and Supplier Payments account by BACS, Faster Payment or CHAPS using its unique sort code and account number.

What will happen if I don't have a sufficient balance in my Salary and Supplier Payments Account?

If you have a £0.00 balance in your Salary and Supplier Payments account or a balance which does not fully cover the amount of a payment, the payment will not be executed until sufficient funds are added.

Managing Payments

What is the maximum individual payment amount I can make?

The maximum individual domestic payment that can be processed is £250,000.

What is the maximum total payment amount I can make during a day?

Modulr does not have a limit for overall payment value, however, payments are monitored on a case by case basis and are subject to approval for our mutual security and protection.

What if my accountant does everything for me and I want to give them the ability to send payments on my behalf?

Your Salary and Supplier Payments account allows you to set user permissions including allowing your accountant to submit and / or approve beneficiaries and payment instructions. However, only you can operate the account as an Account Administrator.

Billing and Your Price Plan

Am I bound to a minimum contract term or can I cancel my subscription at any time?

You can cancel your Salary and Supplier Payments subscription at any time by giving Modulr notice and your contract will then terminate on the first business day of the month following the month in which Modulr receive your notice. So, for example if you give Modulr notice to terminate on 27th March, your contract will end on 1st April (assuming this is a business day). Please note that you are responsible for removing any remaining funds in your account prior to closure.

What's the timing of my invoice and when will the Direct Debit payment be taken?

Your Salary and Supplier Payments subscription fees are payable monthly in advance and any other fees (e.g. overage charges) are payable monthly in arrears. You will be invoiced on or around the 1st of every month; the payment will then be debited by BACS on or around the 16th of every month. If you have any existing Sage Direct Debits set up, the cost of the service may be included in that invoice.

What happens if my payments exceed those included in my monthly price plan?

If you exceed the number of payments included in your existing price plan, you will be charged an additional fee for each payment made.

Am I charged VAT on my Salary and Supplier Payments fees?

Yes, you will be charged VAT.

Reporting Fraud

How do I report fraud on my Salary and Supplier Payments Account?

Please contact support at [email protected] to report fraud.

Legal

Modulr Finance Limited is a company registered in England with company number 09897957 and ICO Registration: ZA183068, is registered with the Financial Conduct Authority as an EMD Agent of Modulr FS Limited. Modulr FS Limited is Authorised and Regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573).

In this section, you can find relevant legal documents relating to Salary and Supplier Payments and Modulr Finance Limited

• Modulr Client terms and conditions
• Modulr Delegate terms and conditions
• Modulr Client privacy notice

Regulatory

Modulr Finance Ltd is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register Reference: 900573) for the issuing of electronic money.

Complaints Procedure

Modulr’s commitment to customers

At Modulr each of our customers is important to us, and we believe you have the right to a fair, swift and courteous service at all times.

When we are in receipt of your complaint we will deal with it promptly, effectively and in a positive manner.

Modulr Complaints Procedure

1. We will acknowledge your complaint within 5 working days.
2. We will investigate your complaint and endeavour to send a final response to you within 15 working days of receipt of your complaint. If we are unable to provide you with a final response within this time, we will send you an update.
3. If more than 35 working days from the date of your complaint has past and you haven’t received a final response, or you are dissatisfied with the final response you have received (at any stage of the process) you can write to:

You must refer your complaint to the Financial Ombudsman within 6 months of the date on the final response.

How Modulr protects your accounts

Financial Crime Prevention measures in Salary and Supplier Payments

Salary and Supplier Payments are committed to helping the fight against financial crime and adopts stringent policies and procedures to help prevent money laundering and other forms of financial crime.

Salary and Supplier Payments are intent on satisfying the requirements of Modulr’s local regulatory and legislative obligations and have designed relevant Policies, Procedures and Systems to meet these requirements.

Salary and Supplier Payments will not tolerate money laundering and terrorist financing and has effective measures in place to prevent, detect, and report all cases of actual or suspected money laundering or terrorist financing.

Customer due diligence/ Know your customer/ Know your business:

To comply with to legal obligations Modulr will ask you to provide us with information for you and your business in order to verify your application. We may also ask you to provide documentation to verify these details.

Monitoring for suspicious activity and transactions:

Salary and Supplier Payments has adopted a risk-based approach for monitoring suspicious activities and transactions and our systems continuously monitor for suspicious activity in line with this approach.

Fraud Detection Controls:

Modulr set transaction limits on your account to monitor for and prevent unexpected transactions from occurring on your account. These limits will be communicated to you. If you exceed these limits we may hold your payments and contact you to verify them.

Fraud Detection Monitoring:

Modulr’s fraud detection team monitor your account for suspicious activity or fraud. We might contact you to discuss unusual transactions identified by our fraud team on your account. If we can’t reach you, we might place a temporary block or hold on your account.

Verification Code:

Modulr will send you a verification code as an additional check following your request to open an account.

Automatic log off:

If there’s no activity on your account for 30 minutes, we’ll automatically log you off from the Salary and Supplier Payments.

Fraud Protection:

Modulr will never contact you to ask for your password or contact you to ask you to authorise transactions we have input or provide details to enable the authorisation of a transaction.

Modulr will never request you to protect your funds by transferring them to a “safe account”.

You must never disclose your security credentials to any third party.

You must always ensure you are certain of the payment details to which you are sending funds, and verify any changes of payment details for staff, suppliers or others with a trusted source.

For more information on protecting yourself from fraud you may wish to visit Take Five to Stop Fraud

Sage Services

In respect of the services provided by Sage, the following apply:

• Sage 50 consolidated Perpetual and Subscription Licence
• Sage 200 terms and conditions
• Sage Privacy and Cookie Policy

Sage Business Conduct

The Bribery Act 2010

We are committed to implementing and enforcing effective systems and processes to counter bribery and corruption. As a UK company, Sage (UK) Ltd is bound by the laws of the UK, including the Bribery Act 2010, in respect of our conduct both at home and abroad.

In addition, we will uphold all laws relevant to countering bribery and corruption in all the jurisdictions in which we operate. As well as ensuring our own conduct is appropriate, we have also put in place procedures to prevent bribery being committed on our behalf by any associated persons, i.e. anyone that performs services for or on our behalf, such as our people, and in some cases, subsidiaries and third parties we work with.

This is the standard of behaviour customers, suppliers and partners can expect from us and that we expect from them.