About funding

Funding is the process of sending money from your corporate bank account to Vitesse to establish or replenish account balances.

Funding is an ongoing treasury activity that includes:

• Initial funding of new accounts
• Regular replenishment
• Monitoring balances against expected payment volumes
• Managing liquidity across programs, binders, or delegated arrangements

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For supported currencies and payment rails, see Funding currency coverage .

Funding methods

You can fund accounts using these methods.

Direct funding (preferred method)

Send funds directly to a bank account linked to a specific Vitesse account.

• One bank transfer funds one account
• Funds are automatically allocated on receipt
• No further action is required

Omnibus funding (UK hub only)

Send funds to a Vitesse omnibus account (a pooled account). Only the UK hub has omnibus accounts.

• One bank transfer can fund multiple accounts of the same currency
• Funds are not automatically allocated on receipt
• You must submit funding instructions to distribute the funds across one or more accounts

For omnibus account details, contact Support.

Funding flow

Funding typically involves the following steps:

1. Create a bank transfer from your corporate bank account to Vitesse with a unique payment reference.
2. (Omnibus funding only) Submit funding instructions to allocate the funds.

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   If you do not submit funding instructions for omnibus funding, Vitesse cannot allocate the funds. Contact Support if your funds remain unallocated.

For information about how to submit funding instructions, see Funding instructions.

Payment references

Payment references are used to identify incoming funds. We recommend that each payment reference is unique, for reconciliation purposes.

Using payment references in omnibus accounts

When funds are sent to an omnibus account, Vitesse uses the payment reference to match the incoming funds to corresponding funding instructions.

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If the main payment reference does not exactly match the bank transfer reference, Vitesse cannot allocate the funds. Contact Support if your funds remain unallocated.

Omnibus account reference example

References should describe the purpose of each funding allocation.

In the following example, APRIL_PREMIUMS_BROKER_XYZ describes the bank transfer reference for the total payment.

The funding instructions may also include the following references for funding selected accounts:

• Premiums - Binder 12345
• Loss fund A
• Loss fund B

Loss fund B is further split into:

• Loss fund B - Claims TPA 1
• Loss fund B - Claims TPA 2

Returns, recoveries, and excess payments

Returns, recoveries, and excess payments are funds related to specific claims. These funds typically originate from the party administering the claim, such as a TPA or DCA, and are handled using direct funding only.

• Returns: Funds reimbursed following cancellations, overpayments, or unused amounts
• Recoveries: Reclaimed amounts from third parties, subrogation, or reinsurers
• Excess payments: Deductible amounts paid by the policyholder

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For funding queries, contact Support.