Product: Reap API (Payments API)
Who this is for: How to create a payment from a managed account, what the amount screen is telling you, and how to follow a payment after you submit it.
What you will learn: Operations teams who create and monitor payments from managed accounts.
Overview
Payments are created from inside a managed account, on its Payments tab. That tab is also where every payment from that account lives, so you create a payment and track it in the same place.
What can you see on the Payments tab?
Every payment made from this account, listed with its date, Payment ID, recipient, status and amount. Most columns can be sorted.
Across the top, tabs filter the list by status and show how many payments are in each:
- All
- Requires action — anything waiting on you
- Awaiting approval
- Awaiting funds
- Under review
Requires action is the one to watch, since it collects everything that needs something from you.
The list can also be filtered and exported.
How do I create a payment?
Select Create payment on the Payments tab, then work through four steps.
1. Choose the recipient
Search for a recipient you have already saved, or add a new one. Saving recipients in advance makes this a matter of selecting a name rather than re-entering bank details.
For the full details a new recipient needs, see How to add and manage recipients in a Managed Account?
2. Enter the amount
Enter the amount you want your recipient to receive. The dashboard works out what the managed account needs to send, and shows you the whole calculation:
| What you see | Why it matters |
|---|---|
| Exchange rate | Comes with a countdown. The rate refreshes every five minutes, so a quote you leave open will change. |
| Payment network | The rail the payment will travel on, such as SWIFT. |
| Variable fee | Charged as a percentage of the amount. |
| Fixed fee | A flat amount per payment. |
| Minimum payment | Shown against the amount field. A payment below it cannot be created. |
Use Manager Funds also appears on this screen, as a toggle. Manager and managed accounts hold independent balances, so a payment normally waits if the managed account is short. With the toggle on, the payment draws what it needs from the manager account instead.
3. Add the details
Provide the purpose of the payment, a payment reference, and the source of funds.
4. Review and confirm
Check the summary, then select Confirm and pay.
What happens after I submit a payment?
The payment appears in your list straight away, usually as Awaiting funds or Under review:
- Awaiting funds means it is waiting on money reaching the account, not on anything you need to fix
- Under review means it is with the compliance team
If compliance needs anything further, the status changes and you are notified by email. Check the Requires action tab for anything sitting with you.
Each payment carries a Payment ID. Quote it if you need to ask support about a specific case.
Frequently Asked Questions
Why is the amount my account pays higher than the amount my recipient gets?
The difference is fees. A variable fee, charged as a percentage, and a fixed fee per payment are both shown on the amount screen before you commit.
The exchange rate changed while I was filling in the form.
Rates refresh every five minutes, and the amount screen shows a countdown to the next refresh. If you leave a payment part-finished, expect a new rate when you return.
A payment is showing as Awaiting funds. What do I do?
Fund the managed account it was created from. Alternatively, enabling Use Manager Funds lets payments draw on the manager account when the managed account is short.
How do I stop payments being held up in compliance review?
Attach a supporting document, such as an invoice, when you create the payment, and complete the purpose, reference and source of funds properly.
How will I know if something is needed from me?
The status changes and you are notified by email. The Requires action tab collects anything waiting on you.
How do I refer to a specific payment when contacting support?
Use the Payment ID shown against it in the list.
Contact our Support Team
If you have questions or need assistance, contact our support team via the Live Chat in the Reap Dashboard (bottom right corner) or email us at hello@reap.global
For more information, visit Know who to talk to at Reap.