Why use PayEd’s payment Portal?
The ‘PayEd Portal’ is easy to use and offers you a cheaper, faster and more secure way to make your international payment. (You will see exactly how much it will cost you and can settle with an easy local currency payment). Moreover, it ensures that your recipient will receive the full invoice amount without deductions.
You can rest assured that you will receive a better exchange rate and lower transfer fees than the banks offer and as soon as you confirm your payment your recipient will receive an email confirmation that your payment is on its way.
How does it work?
It’s easy; input some basic details, receive a local currency settlement offer and settle with a local bank or credit card payment.
1- First provide some basic details about yourself and your invoice and the ‘PayEd Portal’ will calculate how much you will be required to pay in your local currency.
2- Then choose to settle this amount with a local bank transfer or by credit card. (If you choose to pay with a local bank transfer the Portal will provide you with the relevant bank details).
3- Finally your payment will be paid in full into the bank account of the recipient in their country.
Why is it cheaper and better?
It’s very simple; by using its extensive network of banking partners and accounts ‘PayEd’ is able to collect locally from you and pay locally to your recipient. Eliminating expensive international transfer fees, intermediary and beneficiary bank deductions and reducing the often excessive exchange rate means ‘PayEd’ can pass on these savings and benefits to you and the recipient.
What are the costs?
Banks typically offer poor rates of exchange and excessive international transfer fees for international payments. The ‘PayEd Portal’ ensures you get a better exchange rate and only charges a £2.00 fee. With lower fees and no deductions it’s a win-win for you and the recipient.
Are my funds safe?
Yes, absolutely.Any monies received from you are held in secure client segregated accounts and your funds cannot be used for any other purpose than completing your payment.
Who is ‘PayEd’?
PayEd is the educational payments division of Vitesse PSP Ltd. PayEd uses Vitesse PSP as its payments partner. Vitesse PSP is regulated by the Financial Conduct Authority (Reference 615642) under the Payment Services Regulation 2009 for the provision of payment services. Registered Office: 20 Midtown, 2 - 28 Procter Street, Holborn, London. Registered in England. Registered Number: 08461258.
How long will my payment take?
As soon as we have received your payment in our local bank account or received your credit card payment we will make payment to the recipient. We aim to make the payment on a same-day-basis but this can be dependent on the various time-zones and their respective clearing and cut-off times. Typically your payment will arrive the same day or next.
Is my information safe?
Yes, PayEd is committed to protecting your privacy and data. We handle all information that you supply in strict accordance with the UK Data Protection Act (1998).
What if I need assistance or support?
The ‘PayEd’ support team are ready to help you. Should you require assistance or have a specific query just contact us by phone or email, providing your name, contact details and an outline of your query. We will make sure someone contacts you as soon as possible to resolve your issue.