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Understanding bank accounts
Updated over a week ago

Advance Bank Account

The Advance Bank Account must be one which was provided during the application process.

Bank Account Number

The unique number 5-12 digits long that identifies your account.

Swift Code/BIC

Your Swift Code/BIC is an 8-11 character long, standard format code that identifies banks and financial institutions worldwide.

Company Name

This must match the name of the bank account. The bank account must be a company account, not personal.

Pre-Authorized Debit/ Direct Debit Bank Account

The bank account must be one that was provided during the application process

Bank Transit Number

Your Bank Transit Number is 5 digits long and uniquely identifies your bank’s branch.

Bank Institution Number

The 3 digit number that identifies your bank

Advance Amount

The funding you will receive from Wayflyer

Schedule of Tranches

The schedule by which Wayflyer will transfer the Advance Amount to you

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