Using local bank transfers to add funds to your reseller account

Local bank transfers are a payment option to fund your OpenSRS reseller account. It allows you to send funds via wire transfer in your local currency to a bank account in your country. The funds will then be converted into US Dollars (USD) and be applied to your OpenSRS reseller account. Bluesnap is the service provider powering those local bank transfers.

Important: OpenSRS does not charge any additional fees for this service.

Local bank transfer payment details

A local bank transfer payment is initiated by creating a new transaction in the Reseller Control Panel (RCP).  The RCP will give you a payment reference number and the local Bluesnap bank account details for your country to take to your bank to initiate the wire transfer.

Once Bluesnap receives the funds in your local currency, they will convert the funds into USD, subtract their payment fee and notify OpenSRS of the net amount received. They charge a 1.5% markup fee + $5 for every local bank transfer. OpenSRS will credit the full net amount received from Bluesnap to your reseller account. Bluesnap will use the official interbank foreign exchange rate of the day when the payment is received in the Bluesnap bank account adjusted by a percentage-based factor between 1.5% and 5.5% depending on the specific source currency.

We recommend not to send more funds than initially specified when starting the transaction in RCP. as there will be an additional $25 processing fee if the payment reference number or the transferred amount is incorrect. Should your actual payment be more than you had initially specified in RCP, Bluesnap will only credit the original amount and any overpaid funds will sit on hold with Bluesnap. We will not be notified by Bluesnap that an overpayment occurred. It is a manual process to reconcile overpayments in each individual case, and you will need to notify us in this case.

Note: If your actual payment is less than the amount you had initially specified in the RCP, we will credit only the actual amount received by Bluesnap.

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Countries permitted to use local bank transfer payments

Currently, this feature is available for the following countries with more coming soon:

  • Australia
  • Austria
  • Belgium
  • Bulgaria
  • Czech Republic
  • Denmark
  • Ecuador
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Ireland
  • Italy
  • Japan
  • Luxembourg
  • Malaysia
  • Mexico
  • Netherlands
  • New Zealand
  • Norway
  • Peru
  • Poland
  • Portugal
  • Russian Federation
  • Singapore
  • Slovakia
  • Slovenia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Turkey
  • United Kingdom (GB)

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Useing the local bank transfer payments option

  1. Log in to the Reseller Control Panel.
  2. Select Billing & Payments at the top-right menu.
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  3. Choose the Add funds tab.
  4. Under Payment method, select the button for Local bank transfer payments.Image_2.png

  5. Under Payment amount, select your country, and the appropriate currency will be shown, including the minimum and maximum amounts allowed. Enter the amount that you would like to add to your reseller account.
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  6. Complete your contact information, and click Next.
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  7. The next screen will be the details of the bank to which you should then wire the funds. Print this page and take it with you to make the transfer.
    Note: If you do not actually wire the funds, they will not be added to your reseller account.  You must reference the Payment Reference number in your wire transfer to ensure the funds go to your reseller account.print.png
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  8. Ensure you allow time for the bank to process the payment once you have made the transfer. This process is local and separate from OpenSRS billing.
  9. Once the local bank has processed your wire transfer, the money will be deposited into your reseller account, minus any currency conversion and bank transfer fees by the local bank. OpenSRS will not charge any fees.
  10. You will be sent a receipt via email once the funds are deposited into your account, you can also view the deposit in the Billing & Payments section under Transactions.

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Frequently asked questions

How long does it usually take for a local bank transfer to complete? Local bank transfers will take up to two weeks to complete from the time you send funds from your bank account until they have been received in your OpenSRS reseller account. There are several additional processing steps involved after your payment made it to the recipient's bank account, so the completion time is longer than just the bank transfer process.
What happens if I forget to include the payment reference number in my wire transfer? Without a payment reference number, Bluesnap will not be able to identify your payment. In case you send a payment without or with an incomplete payment reference, please send us proof of your payment so we can track the payment with Bluesnap. There will be an additional $25 processing fee if the payment reference number or the transferred amount is incorrect.
Which foreign exchange rate will Bluesnap use when converting from the local currency to USD? Bluesnap will use the official interbank foreign exchange rate of the day when the payment is received in the Bluesnap bank account adjusted by a percentage-based factor between 1.5% and 5.5% depending on the specific source currency.
What can I do if the bank transfer payment is not reflected in the Reseller account funds? Local bank transfers will take up to two weeks to complete from the time you send funds from your bank account until they have been received in your OpenSRS reseller account. If the payment isn't still reflected after two weeks, please contact OpenSRS support with the wire payment details that you got from the Reseller Control Panel and the bank transfer receipt. We will then contact Bluesnap to get the status of your transaction.

 

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