What is open banking?
Open banking (also known as instant transfer) is the fastest way for our UK-based customers to get funds into their Pleo Wallet. This option usually takes a few minutes, but can take up to about an hour. It is available 24 hours a day, including weekends.
How to top up your Wallet using open banking
Admins and bookkeepers with advanced Wallet permissions can go through the following steps:
In the Pleo web app, click on the Wallet page.
Click "Top-up":
Open banking is the default option you see. Select your bank from the list and follow the on-screen instructions to proceed with the transfer:
Good to know:
There is a £12,000 limit per open banking top-up (but you can make more than one top-up per day).
Please go through the Pleo web app to top up with open banking (going through your online banking instead of Pleo can cause some problems with the transfer reference).
Pleo's recipient details for open banking look different than the transfer details when choosing one of the alternative top-up methods (see below). The reason is that Pleo's open banking account details have 24/7 support, whereas the others are limited to bank days.
Currently, Silicon Valley Bank does not support top-ups outside working hours.
We sometimes get cases of our customers' banks blocking an open banking top-up. If the funds still haven't come through after more than an hour, please contact your bank.
The alternative to open banking is a "regular" transfer to Pleo via Faster Payments and Chaps transfer. Simply follow the same steps as above, switching to a regular transfer by clicking "bank transfer details" at the bottom of the "Select your bank" panel.