Similar to how the beneficiary template creates a record for the beneficiary and bank account to be paid, the settlement account template is for the bank account that is issuing the payment. The Settlement Account template is also known as the ‘Incoming Funds Template’. Once complete, these accounts can be used to settle transactions and payments. Accounts created through this workflow are non-Corpay bank accounts. Multi-Currency Accounts (previously called FXBalance) or Corpay holding account templates are not created in this same way.
