IGsend is an easy to use, flexible and affordable instant payments solution. Unlike BACS which has a three-day turnaround time and can only be processed on working days, IGsend allows payroll teams to pay employees instantly at any time of day and any day of the year.
- Payroll managers create an account based on the number of transactions they need to make each month. (Check out our subscription breakdown here)
- Payroll managers upload payroll details to the IGsend system, such as data and funds
- A designated payroll manager approves the payroll and sets the date for employees to be paid – which can be any day of the year at any time
- Employees are paid by instant payment
- The money lands in the employee’s bank account instantly. IGsend issues a notification of successful payment.
IGsend uses faster payments technology to pay employees instantly. There are a number of benefits for using faster payments in the payroll process, including:
- Payroll faster payments allow you to pay employees instantly
With faster payroll payments, employees can receive funds into their bank accounts instantly as soon as payroll is processed by the employer. This is rapidly faster than BACS payment methods, which require 3 working days to be processed and for funds to land in the employee’s bank account.
- Payroll faster payments allow you to make adjustments to pay quickly
See the instant outcome of payroll and quickly identify any errors with faster payroll payments. Then, correct those payments and resubmit payroll on the same day, instead of having to wait another 3 days for BACS payments to clear.
- Payroll faster payments enable payroll teams to set unique payroll payment schedules
Not only does faster payments in payroll allow you to pay employees instantly, it also lets you set your own payroll payment timescales to suit your business and employees’ needs. So, employees who pick up extra shifts to earn extra cash can get paid within minutes of finishing their shift, instead of having to wait weeks until the next payday.
Find out more about the benefits of faster payments in our blog.
There is no obligation to sign up to IGsend after the payroll payment software demo.
During the demo, a member of Income Group’s friendly team will talk you through the software through a screensharing session. This will allow you to see a live demo version of the software, so that you can see how data can be uploaded to the system, how payroll is processed and how data is kept secure. The software demos are a great way to see IGsend in action, and for you to ask any questions you may have about how the system works and integrates with your payroll process.
Income Group is authorised and regulated by the Financial Conduct Authority. Hundreds of UK businesses across multiple industries currently trust Income Group’s IGsend platform to process their payroll payments, including Zellis & Moorepay. Income Group is partnered with Mastercard and Starling Bank, so all data and money is encrypted, regulated and safeguarded.
WHY IG SEND?
What are the differences to BACS?
|Services||Instant payments||BACS payments|
|Available 24/7 - 365. IGsend is available every minute of every day|
|Turnaround possible in less than one minute. Payments can be processed incredibly quickly|
|Direction-of-travel for instant payments used in consumer life. Use of Faster Payments increased 27% in Jan 21 compared to Jan 22|
|Futureproof technology. BACS has been used since the 1960s....|
|Funds committed on payment. No need for a 3-day wait|
|Can be scheduled in advance but still be changed one second before payment. No more strict deadlines - more flexibility|
|Instant check to confirm employees can receive payment. Wrong sort code? Find out and fix in an instant|
|No need for an expensive SUN number. Redistributed the funds elsewhere|