Linking your settlement Bank Accounts to RPS

To ensure payments are directed to the right destination, it is important to link your bank accounts to RPS.

To ensure RPS functions properly, it is important to designate a settlement account and currency for your payments. It is advisable to use a clearing account for Payrix and eWay, and a virtual bank account for Stripe.

Linking
Select your gateway and account and currency and click link to create the settlement link

Billing in multi-currency?

Stripe will automatically provide the exchange rate to us during the transaction, whereas other gateways like eWay rely on the bank's exchange rate at the time of settlement, which remains undisclosed to us.

If you want to address this issue, you have the option to utilize the accounting exchange rate (Xero multi-currency), which relies on the XE exchange rates. Although the bank's settlement rate may slightly differ from XE, you can make adjustments to accommodate this. To enable this feature, simply click on the Settlement Currency link.

Further Reading

One click Reconcile with Clearing Accounts in Xero