Switch to Plaitr.
Moving your payments and your books is a migration, not a signup. Done properly it runs over weeks, with the old account still open behind you, and the only way it goes badly is if someone promised you it would take an afternoon. This page is what the move actually looks like.
Plaitr is a non-custodial financial technology company, not a bank: balances sit with licensed partner institutions in each jurisdiction. That shapes the switch — verification is real, availability varies by country, and some corridors will not be open to you. Better to find that out on this page than three weeks in. How the product is built.
What switching involves
Get your documents together before you start
This is a business account, so verification covers the entity and the people behind it. Expect incorporation documents, proof of registered address, ownership and director details with an identity document for each person, and a plain description of what the business does and which countries it pays. Exact requirements depend on your country of incorporation and on the partner institution serving it. Incomplete paperwork is the single most common reason a switch takes three weeks instead of one.
Open the account
There is no self-serve signup today — it starts with a conversation, and then business verification, identity verification and sanctions screening. Access depends on clearing those checks and on Plaitr being available in your market; we may decline or pause services where law or a partner institution requires it. Ongoing monitoring continues after the account is open, so keep your details current.
Add your counterparties, highest volume first
Load the suppliers, contractors and staff you pay most often, with their bank details, country, currency and the rail you intend to use. Doing the top ten first tells you quickly whether the corridors you actually depend on are covered. The long tail can wait.
Run the first payment small
Send one real payment, for a small amount, to a counterparty who will confirm receipt and tell you what landed. Check the fee and FX rate shown before you submit against what settles — applicable fees and rates are disclosed before each transaction is submitted, and displayed FX rates are indicative mid-market rates. A test payment costs a few dollars. A failed payroll run costs considerably more.
Move recurring payouts one batch at a time
Payroll, contractor runs and supplier cycles move across in stages, not all at once. Run one batch on the new rails while the rest stays where it is, confirm settlement timing in the corridors you care about, then move the next. Cross-border timing varies by rail and by country; find that out on a batch you can fix, not on the one that pays everyone.
Connect the books and pick a clean cutover date
Plaitr reconciles transactions as they settle and exports to Xero, QuickBooks, NetSuite and CSV. Start the new account at a period boundary so one month belongs to the old bank and the next belongs to Plaitr — your accountant will thank you, and the alternative is a month split down the middle across two sources of truth.
Keep the old account open in parallel
Run both until at least one full month-end has closed on the new rails and every payer has updated your remittance details. Payers are slow; expect a cycle or two before invoices stop pointing at the old account. Close the old one only after nothing has routed through it for a full cycle.
Tell everyone who pays you
Update invoice templates, contracts, marketplace settings and any platform that holds your payout details. This is the step that quietly determines how long the parallel period lasts, and it is entirely on your side of the line.
What to check before you switch
Four questions decide whether this is worth starting. Answer them before you touch a document.
Is Plaitr available where you are incorporated?
Product availability, pricing and service levels vary by country and may change without notice, and access depends on clearing verification and on a partner institution covering that market. Country of incorporation, not where you happen to sit, is what governs.
Which rails do you actually need?
Write down the rails your money really moves on — ACH and wire in the US, SEPA and SWIFT in Europe, FAST in Singapore, IMPS in India, or stablecoin rails such as USDC and USDT for cross-border movement. A platform that covers three of your four rails is a platform you will be running in parallel forever.
Is your corridor supported, end to end?
A corridor is a pair, not a country. Check the specific route you depend on — for example cross-border payments into India — including what the receiving side needs from you locally.
Does the maths actually work?
Run your real volumes through the payment cost calculator, read the pricing, and see how it lands against what you use now on the comparison. If the saving is a rounding error, a migration is not worth the quarter.
One thing a switch does not change: your own obligations. You remain responsible for ensuring your use complies with the laws and tax rules that apply to your business locally — filings, purpose codes, documentation for inbound funds. New rails, same paperwork.
How long each stage takes
These are ranges from how this kind of migration normally goes, not commitments. Service levels vary by country and may change, and a single missing document moves every row below it.
- VerificationDays, not minutes
It is a business account. The entity, its owners and its directors are all verified, and sanctions screening runs before anything opens. Complete documents on the first pass is the only lever you control here.
- First real paymentDays after approval
Once the account is live and one counterparty is loaded, a small end-to-end payment is a same-week job — assuming the corridor and rail you need are available to you.
- Recurring payoutsOne to two cycles
A payroll or supplier run moves when the next run comes around. Two cycles is a realistic target for the bulk of volume, staged batch by batch.
- Books reconciled on PlaitrOne full month-end close
You have not proven the accounting until a close has run through it. That is a calendar constraint, not a software one.
- Old account closedA quarter, realistically
Parallel running ends when payers have updated their details and nothing has arrived in the old account for a cycle. Most of that wait is other people's systems.
Frequently asked
How long does switching take?
Plan in weeks, not an afternoon. Verification on a business account takes days because it covers the entity, its owners and its directors. First payment can follow within days of approval. Recurring payouts take a cycle, and the books take a full close. Timelines vary by country and are not commitments.
What documents do I need?
Expect incorporation documents, proof of registered address, ownership and director details with identity documents for each person, and a plain description of what the business does and which countries it pays. Exact requirements depend on your country of incorporation and the partner institution serving it, so ask before you gather everything.
Should I close my old bank account?
Not yet. Keep it open and funded until at least one full month-end has closed on the new rails and every payer has updated your remittance details. Closing early turns a routine switch into an incident. Move volume across in stages, and close the old account once nothing has routed through it for a cycle.
Will my books break during the switch?
They will be split across two sources for as long as you run in parallel, which is normal. Plaitr reconciles its own transactions as they settle and exports to Xero, QuickBooks, NetSuite and CSV. Start at a period boundary so one month belongs to the old account and the next to the new one.
What if my country or corridor is not supported?
Then do not switch yet. Product availability, pricing and service levels vary by country and can change, and access depends on verification and on the partner institution covering that market. Tell us the corridor you need and we will say plainly whether it works today rather than after you have moved.
Start with the corridor, not the contract.
Tell us where your money comes from and where it goes, and we will tell you whether Plaitr covers it today. If it does not, we will say so.