Payments

What is a beneficiary?

A beneficiary is an individual or business you wish to receive your payment.

How do I add a beneficiary?

You can add a beneficiary to your Midpoint account once you have logged in to your dashboard, select 'Add New Beneficiary' and make sure to enter the correct details, this ensures that there are no delays in your payment.

How do I assign a beneficiary to my order?

Once you have placed your order, you can assign a beneficiary so that they receive payment on the settlement date you selected. If you forget to assign a beneficiary, this will cause delays in your payment being remitted.

I don't have my beneficiary's bank details. What should I do?

You can choose to settle your funds into your Midpoint wallet, which is a segregated account meaning that your funds are safeguarded, and can choose to pay a beneficiary once you have received their banking details.

The foreign exchange market is open Monday to Friday and closed on weekends. All currency pairings have different cut-off times for conversions, and all currencies have different cut-off times for payments. Feel free to use the guide below to estimate the turnaround time for your payment.