After setting up the whitelisted bank account for TM employee payments, the next step is to configure each employee's banking details.
You can configure this by navigating to each employee profile, selecting the Payroll tab, choosing the Active payroll cycle, and scrolling to the bottom to edit the "Paid via" section.
Click Edit and select "Transfermate"
Fill in the Bank details and accounts details of the employee to ensure salary is transferred to the correct account.
- The beneficiary type for employees will always be set as "Individual."
- Depending on the country of the employee's bank account, additional fields may need to be completed.
- After entering the required details, click on "Validate Account" to have the Transfermate API verify the data for accuracy and validity.
- Once validated you can simply review and submit the details
A user with the appropriate permissions will be prompted to complete multi-factor authentication (MFA) to confirm their authorization to edit employee banking details.