Manage Global Transactions with Ease on the Vistra Platform
Business Accounts on the Vistra Platform provide businesses with a seamless way to manage global transactions, hold multiple currencies, receive payments internationally via local payment rails, execute low-cost cross-border transfers, and convert currencies in real-time. Learn how to streamline global financial operations with entity-linked wallets, secure payouts, and competitive FX rates—all within the Vistra Platform.
Key Takeaway 🚀 : Securely manage multi-currency transactions across legal entities, collect payments via local payment rails, convert currencies real-time and execute fast and cost-effective transfers—directly from Business Accounts.
Key Features & Benefits
Entity-Linked Wallets for Seamless Management 🌍
Each Legal Entity in the Vistra Platform has its own dedicated wallet.
Effectively manage balances in multiple currencies within each entity’s wallet.
Real-time tracking of balances and transaction history.
Secure, bank-level encryption ensures financial data protection.
Receiving Payment via Global Accounts 💸
Open a Global Account to collect funds through local payment rails in 13 countries, across 22 currencies.
No forced FX conversions—hold, receive and disburse funds in local currencies to reduce exposure to currency fluctuations.
Account details (including bank name, account number) are listed under the legal entity’s name, ensuring transparency in collections.
Real-Time FX Conversions 💱
Convert funds between currencies with real-time FX rates, updated every minute.
View available balances and FX rates before executing instant currency conversion.
Exotic currencies (e.g., MYR) are converted at the point of payout.
Local & SWIFT Transfers 💳
Transfer funds locally using 60+ payment rails (e.g., SEPA, FAST, GIRO) for cheaper and faster payouts.
SWIFT transfers are available for international payments in currencies without local payment rail support.
See transfer fees upfront in real-time before completing a transaction, ensuring transparency.
Secure & Controlled Transactions 🔒
Role-based access control (RBAC) ensures secure access to financial tools.
Recipient management: Add details of recipients and payout beneficiaries before making transfers.
Custom payment references: Ensure payees recognize incoming payments.
Full transaction history tracking: Keep records of all conversions, transfers and payments.
How It Works: Step-by-Step Guide
Step 1: Accessing Business Accounts
Navigate to Business Accounts in the Vistra Platform.
View wallets linked to each Legal Entity.
Click on an entity’s wallet to access account details.
The “Balances” tab displays available funds across different currencies.
Step 2: Receiving Funds (Opening a Global Account)
Go to the “Global Accounts” tab.
Click “Create New Global Account”.
Enter an Account Name and Location, then click “Create Account”.
The Global Account is created instantly.
Click to view account details such as account name, account number, bank name, transfer capabilities and supported payment methods.
Share these details with clients to receive payments.
Step 3: Converting Currencies
Navigate to the “Conversions” tab.
Select the base currency and the currency you wish to convert to.
View real-time FX rates and available balances.
Confirm the conversion to update your wallet balances.
Step 4: Adding a Recipient for Payouts
Navigate to “Recipients” and click “Create New Recipient”.
Enter:
Bank Country/Region
Account Currency
Recipient Type
Business or Individual
Local Payout Rail (e.g., SEPA, FAST, GIRO, SWIFT)
Bank Name, Account Number, Account Holder Name, Account Holder Address and City.
Ensure account details are accurate to prevent payment failures.
Step 5: Making a Transfer
Go to the “Transfers” tab and click "New Transfer".
Select a recipient, enter the amount, and review transfer fees.
If sending exotic currencies, the FX conversion happens at this stage.
Provide a payment reference (entity name) to ensure recipient recognition.
Click “Create”—transaction status will update in real-time.
Step 6: Monitoring Transactions
Review all conversions and payouts in the “Transactions” tab.
Monitor account balances, transfer statuses, and history.
Why It Matters
Simplify Global Business Transactions 🎯
No need for separate banking platforms—manage entity-linked wallets, FX, and payments all in one platform.
Reduce Costs on FX & International Transactions 💰
Make payments using local payment rails instead of costly SWIFT transfers.
Avoid forced conversions and unnecessary FX fees.
Faster Settlements & Improved Cash Flow ⚡
Receive funds instantly via local collection accounts.
Transfer funds in as little as 20 minutes.
Optimised Currency Management 📊
Hold multiple currencies and convert funds in real-time at competitive FX rates.
🔗 More details on Global Account capabilities: Details on Global Account Capabilities
Use Cases
✅ For Multinational Businesses: Open local accounts in key markets for seamless fund collection and management of global transactions.
✅ For E-commerce & SaaS Platforms: Accept multi-currency payments from customers and pay vendors globally. Reduce transaction costs with local payment rails.
✅ For Importers & Exporters: Avoid costly FX conversions by receiving and paying in the same currency.
✅ For Payroll & Contractors: Pay employees and freelancers worldwide using fast, local payment networks.
Future Enhancements
Coming Soon 🚀 :
Automated Recurring Payments: Streamline payroll and supplier payments.
Advanced Transaction Reporting: Gain deeper financial insights with analytics tools.
Enhanced Recipient Verification: Reduce errors with automated validation.
Stay tuned for more updates on Business Accounts!