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Watch Approval2Buy...
Watch this short video on how Approval2Buy can simplify your supplier payments with enhanced controls, increased security and better data.
Security may be required. Product fees may apply. To apply, you must be a UK resident aged 18 or over. Approval2Buy™ are for UK businesses only. To apply you must be either a Limited Company, UK public sector organisation, Partnership (of 4 of more partners) or a Charity without individuals as trustees with an annual turnover of £2m+ and maintain a business bank account in the same legal entity name with NatWest. Subject to status, business use only. For more information on fees, rates and charges, speak to your Relationship Manager. Your Relationship Manager will finalise your application.
Approval2Buy™ in detail...
Benefits OpenClose
Transaction-level control
Every transaction is assigned authorisation controls.
Workflow control
Approval routing for transactions follow existing approval process.
Automated reconciliation
VCN data available for reconciliation reporting.
Enhanced data
Information important to each individual payment can be incorporated into the transaction.
Virtual accounts OpenClose
Approval2Buy | NatWest business banking
- Patented technology to create unique VCN for each transaction
- Card numbers never reused, avoiding issues with credits/refunds
in the future - Ability to generate unique CVC number per each VCN needed for online payments
- Handles global programs with cards issued in multiple countries
Information Message
Approval2Buy | NatWest business banking
- Appends 29 fields to transactions for optimal reconciliation and cost allocation
- Real-time controls of virtual cards
- Fees charged by the processors for ‘storing’ card numbers
- Long, successful track record of platform consistency and stability
Information Message
Access options designed to suit you and your employees
- Users
Company employees can log in to Approval2Buy to request virtual card numbers, review their purchase requests and transactions.
- Programme administrators
Company Programme Administrators can set up users and payment controls, manage and monitor the virtual card programme with a variety of reports available.