Qonto’s Bulk Transfers: Hundreds of Transfers, One Click

Whether processing payments to employees or suppliers, business owners often need to make numerous payments at once and contact everyone by email. This can be especially frustrating when you bank with a traditional financial service, one that isn’t tailored to your needs as an entrepreneur or business owner.

Here at Qonto we understand the need for convenience and simplicity when it comes to making mass payments. That’s why we’ve designed our bulk transfer feature with maximum efficiency in mind for our customers.

In this article, you’ll learn all about our bulk transfer feature: what it is, how you can use it, and a special use case example to highlight the feature’s capabilities.

A bulk transfer is a feature allowing Qonto customers to execute multiple transfers (up to 400) at once from your desktop app. Many customers perform international transactions like those permitted by Wise.

With this feature, you can simplify payments after you’ve put in numerous orders with different suppliers, and you can pay all your employees at once at the end of the month. Gone are your days of keeping track of when to pay who next or tediously paying each employee one by one.

Bulk transfers are ultimately designed to streamline your payment processing. This way, you can focus on much more important things like growing your business and attracting new clientele, whom you can impress with your efficient payment processes.

Qonto partners with Menu du jour, an app that shares news and daily menus from restaurants in your area and all across France. Users log onto Menu du jour to discover deals at their favourite restaurants in France, and the app streamlines the reservation and payment process.

Menu du jour uses Qonto’s bulk transfer because, as founder Vincent Veyrat-Masson says, ‘We need to send thousands of transfers a month’. He needs a financial solution that ‘allows me to reimburse all our users in a timely manner.’ Efficient use of time is key when it comes to running a successful business.

Vincent and Menu du jour are very happy with Qonto’s bulk transfer feature, as are many more of our customers using the feature. Let’s go over how you can boost your own business when paying merchants with this feature.

Making a bulk transfer, you will be grouping all of your to-be-made payments into one file. You can choose between two file types for this:

• .XML
• .CSV

To make the transfer, follow these simple steps:

1. Go to the Transfers section of your Qonto app, then click on Bulk transfers.
2. Upload the .XML or .CSV file you have previously prepared or exported from another tool.
3. Specify the expense type and schedule this bulk payment for a later date if needed.
4. Review your recipient information (payment details, invoice etc.), and confirm the payment. The total amount is displayed at the bottom of the screen.

Each new recipient in your bulk transfer will then be automatically added to your list of recipients in your Qonto account.