You should have complete control of your money, that much is obvious. It’s a central premise to our personal Revolut accounts, and the same goes for Revolut Business. That’s why we’re excited to announce a brand new feature called Payment Approval.
Okay, so it doesn’t sound super exciting, or have the coolest name, but whatever the size of your business, whether you’re a bootstrapped 5 or 10-person team, or a multinational brand with thousands of employees, this is big news.
With our new Payment Approval feature, team members will be able to draft payments which are then sent for approval. The upside? More control over when your money comes and goes, as well as where it goes. No more erroneous payments or confusing backtracking, trying to figure out why a particular payment was settled without approval.
More control of your company’s finances, means greater peace of mind, and more time to focus on your customers.
How Payment Approval works 👓
Payment Approval allows you to set rules on the transfer of funds, according to the roles you’ve set within your team.
As in the example below: Payments greater than £1,000 must be approved by 1 person(s) with the following role(s): Owner or Senior Accountant .
Setting up a Payment Approval is as easy as you’d expect from Revolut, too. Simply navigate to Settings > Users > Choose user > Operations with funds > Payment approval rules.
Set a value for this specific rule (e.g. £1,000), then choose the roles and number of people required to approve the payments.
Help us make this feature better 💪🏻
As always, we’re constantly working to make our features better for you. Right now, you can set rules based on roles within your team. In the future, we aim to make it possible to set rules and assign them to individuals (e.g. if you have two senior accountants, you might want to give Jane approval access, but not John).
We really hope that you’ll find Payment Approval a useful feature, and of course we would love your feedback. You can do this by getting in touch with chat support, as you get to grips with the feature.
Start Local, Go Global
Get started with a free Revolut for Business account. Open accounts in 28 different currencies, transfer and exchange money without rubbish rates, issue corporate cards to your team and much more.