Automatically fund payments from another account when the primary account has insufficient funds.
This rule identifies a secondary account to take money from if funds aren’t available in the account the payment is being sent from. If triggered, first an automated internal transfer moves the funds to the sending account, then the payment can be sent from the original account. This rule is only available if the customer has ‘Hold For Funds’ set on their configuration.
Eg: If there are not enough funds in Account 1 to make a payment, then use Account 2 to fund the payments.
Setting up a funding rule
The Funding Rule isn't available to Modulr users by default, but if you feel it would be a useful feature for your workflow, contact Support to get it activated.
- Navigate to the account you want to set the rule up on and select 'Rules on this account' from the Account Options button.
- From the 'Rules on this Account' screen, select 'Create a rule for this Account'
- Select 'Funding' from the rule type options displayed
- Select 'Create'
- On the form displayed, give your Rule a meaningful name that will help identify it
- Select the account you want to use as an alternative funding account – this must be in the same currency as the main sending account
- Select Create
- The Rule summary can be viewed in the 'Rules on this account' screen