Frequently Asked Questions.

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Paid transaction account

A Paid transaction account provides core functionality and access to the full feature set of the Paid platform.

These features include:

  • Sending and receiving fast payments.
  • Linking and reserving progress payments.
  • Cash flow funding.
  • Enhanced transaction history including detailed claim information.
If we are unable to match the reference code of a payment to an approved claim, the associated funds will be made temporarily unavailable. They will be shown on the receiver's transaction account dashboard.

The receiver of the funds can assign the held funds to an available progress claim from the assign funds dialog.
Linking is the connection of funds from a payer's progress payment to a payee's progress payment.

Linked payments are a promise from the payer, that funds from the payer's progress payment will be used to pay the payee's progress payment.

When the payer's progress payment is fulfilled, funds will be reserved to pay linked progress payments. 

The reserved funds will not be accessible to the payer, and they will be paid to the payee automatically according to the contract terms.

Linking gives suppliers and subcontractors greater peace of mind that they will be paid on time for work they’ve completed.
All progress claim fulfilments incur a minimum fee of $0.01. Transaction fees are only charged to the receiving account (payee).
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