Introducing Bulk Transfers on the Paystack Dashboard
Previously, Paystack merchants could only send bulk transfers via the Paystack API. Now, you can send bulk transfers via the Paystack Dashboard too.
The new Bulk Transfers feature allows you to transfer funds from your Paystack Balance to multiple bank accounts at the same time by uploading a spreadsheet containing the recipients’ details , direct from your Paystack Dashboard.
Previously, you could only make bulk transfers using the Paystack API, and the Dashboard only allowed you to send one transfer at a time. Now, you simply create a spreadsheet containing all the necessary recipient information, upload it, and leave Paystack to do the multiple transfers.
Some ways merchants use Bulk Transfers
- Financial service apps that need to distribute money to multiple recipients at the same time can now do it via the Paystack Dashboard.
- Businesses with multiple stores or suppliers can now also send money quickly.
- We also see businesses use Bulk Transfers to pay staff salaries at the end of every month.
Here’s how to send Bulk Transfers from the Paystack Dashboard
- Confirm that you listed a correct business phone number on your Paystack Dashboard. To check, simply go to the Settings page on the Paystack Dashboard, and then select the Business tab. Here’s a direct link to the Business tab. When you get to the page, check your listed number in the Business Phone field annotated as “1” in the screenshot below
- Next, go to the Preferences tab on the Settings page to disable Transfers One Time Password (OTP) confirmation. This step is very important because it allows you to make multiple transfers without having to enter an OTP for every single transfer. An OTP is sent to your business phone number and you can enter it in the Enter Code field as shown in the screenshot below. Here’s a direct link to the Preferences tab.
- Next, click on Transfers from the menu panel, and then on the New Transfer dropdown at the top right dropdown from where you can select the Bulk Upload option.
- Click on the Choose File button to upload a spreadsheet containing all the recipients’ bank account details and the amounts to be transferred to them. IMPORTANT: the headers of the spreadsheet need to be in a specific format for the transfer to work. You may click on Sample CSV to see the acceptable spreadsheet formats that can be uploaded.
- After you upload the spreadsheet, click on Start Bulk Transfer to initiate the transfer
Here’s a tutorial video that shows you in detail how to make Bulk Transfers:
The Bulk Transfer feature is built for when you need to make numerous transfers to more than one bank account. No matter how large your recipient list is, Paystack’s Bulk Transfer feature is fast, easy to use, and doesn’t require a single line of code; all you do is upload, click, and transfer!
This Help Desk article has more information about Paystack Transfers.
Our friendly Customer Success Experts are also on standby to answer any questions you might have— give them a call at +234 908 566 2909 or send us an email at [email protected]!