Business Partner Prefunding Guide

This page covers the process a Business Partner needs to follow to prefund their Business Partner Account.   The Business Partner Account should be prefunded before you can enrol cardholders.

Wire Transfer to NatWest Bank

Business Partners should wire funds to the WaveCrest Account in NatWest Bank, quoting their Unique Reference Number and Business Partner ID as the transfer description. Wires received at NatWest Bank Gibraltar before 3PM GMT will be posted to your Prefunding Account between 4 PM – 6 PM CET, daily on business days*.

*Working days are Monday through Friday, except for recipient bank holidays.

Fees: NatWest inbound wire fees to WaveCrest will be passed through and debited from your Prefunding Account.

Steps to Transfer

  1. Login to your Business Partner Account at https://mychoicecorporate.com
  2. Navigate to My Account >> Fund My Account
  3. Select ‘NatWest Bank Transfer’
  4. Note down the Beneficiary Name, IBAN, Swift and Reference Number as per table below

NOTE: If you are an API-integrated Business Partner, you may view this information on to your own program portal instead of on https://mychoicecorporate.com.

  Description Wire Inputs
Receiving Institution Name on Account WaveCrest Holdings Ltd –MyChoice Prefunding Account
IBAN Number Log into your Business Partner Portal to view the IBAN relevant to you
Swift Code RBOSGIGI
Beneficiary Information Originator to Beneficiary Information Your WaveCrest Business Partner ID (Login to your Business Partner Portal to view your Business Partner ID.)

Your Company name (Please use the name registered with WaveCrest.)

Unique Ref Number (You can view your Unique Reference Number in the Business Partner Portal.)

 

Intermediary/Correspondent Banks

 Using these banks as the intermediary/correspondent bank for your wires may help your bank send it more efficiently. Please provide their information to your bank when initiating the wire.

EUR National Westminster Bank, London

SWIFT: NWBKGB2L

GBP National Westminster Bank, London

SWIFT: NWBKGB2L

USD Wells Fargo Bank NA, New York (formerly Wachovia Bank NA)

SWIFT: PNBPUS3NNYC

CHIPS: 139497

Fedwire (ABA): 026005092

Account Number: 2000193009233

Account Name: NatWest offshore

 

  1. Wire / transfer funds to the Bank Account as per the details noted
  2. Please make sure the Business Partner ID, Name and Unique Ref Number are provided in the description of the transfer or in the ‘Other Instructions’ field to ensure the smooth crediting of your Prefunding Account.
  3. Once the wire transfer is initiated, please send an email from your registered email address with the wire confirmation number and amount to: [email protected]
  4. You will receive an email notification confirming the account deposited, and you will see the amount reflected in the balance of your Prefunding Account.

Transfer of funds between prefunding accounts in different currencies

This section covers how you convert and transfer funds from your Prefunding Account in one currency to a Prefunding Account in another currency.

Steps to Convert

  1. Send an email to [email protected] with your Business Partner ID, amount, the currency to be debited and the currency to be credited.
  2. Please make sure the Prefunding Account to be debited has sufficient funds.
  3. Emails received by 3 PM GMT on business days will be processed and funds will be posted to Prefunding Account between 4 PM – 6 PM the same day. Currency conversion requests received after 3PM GMT will be processed the following business day between 10 AM and 11 AM GMT.

 Fee: 0.5% of converted amount