About funding

Funding is the process of transferring money from your corporate bank account into your Vitesse account to establish or replenish available funds for future payments.

Funding is an ongoing treasury activity that helps ensure sufficient liquidity is available to support payment operations, including:

• Funding newly created accounts
• Replenishing account balances as payments are made
• Monitoring balances against expected payment volumes
• Managing liquidity across programmes, binders, delegated arrangements, or other account structures

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

Direct funding

Send funds directly from your corporate bank account to a specific Vitesse account using its dedicated bank account details.

This is the preferred method. No further action is required

Bulk funding

Bulk funding allows you to make a single transfer to a Vitesse omnibus account and then provide funding instructions to allocate the funds across multiple Vitesse accounts.

When funds are received into an omnibus account, Vitesse uses the payment reference to match the incoming payment with the corresponding funding instructions and allocate the funds to the specified Vitesse accounts.

• One bank transfer can fund multiple accounts of the same currency
• You must submit funding instructions detailing destination Vitesse accounts IDs and the amount to be credited to each account.
• Funds must be allocated by Vitesse on receipt of funds and funding instructions

To obtain omnibus account bank details, contact Support.

Bulk Funding flow

Bulk funding involves the following steps:

1. Create a bank transfer from your corporate bank account to Vitesse with a payment reference.
2. Submit funding instructions with a clear mention of the payment reference.

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

Bulk funding instructions example

The funding instructions must include the destination Vitesse account details (account name or account ID) and the amount to be allocated to each account. You can also include individual payment references to support reconciliation.

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

For example, Premiums - Binder 12345 , Loss fund A will appear as extrernal references in the account entries in Insurova - Carrier Funding and Iron Oak - UK Autos 1 accounts.

Payment in the Rock Solid Insurance account will be split in two entries with Loss fund B - Claims TPA 1 and Loss fund B - Claims TPA 2 external references.