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Faster Payments: Telleroo
Faster Payments: Telleroo
Rebecca Russell avatar
Written by Rebecca Russell
Updated over a week ago

PayFit have partnered with Telleroo to allow you to run payroll the night before payday and still pay employees with ease. By using Telleroo, you're able to further streamline your monthly payroll duties and maximise the window that you're able to edit your monthly payroll.

What is Telleroo?

Telleroo works as an e-wallet for making instant payments in bulk. Telleroo is designed to save your business time, reduce errors, and allow you to have more flexibility when making payments.

Telleroo Features

✅ Telleroo allows admins to pay their employees within one working day of running payroll.

✅ Admins can schedule a preferred time to release funds to their employees.

✅ HMRC payments can be processed via Telleroo too.

✅ If anything is wrong with the payment file (e.g incorrect bank details added by an employee), PayFit can just re-upload a new file promptly without any additional charge.

❌ Telleroo cannot process pension provider payments. This is because most pension providers take automatic monthly payments via direct debit.

❌ You're not eligible to utilise Telleroo if you currently have fewer than 25 employees.

❌ Telleroo set up can take a few weeks and requires quite a lot of information, particularly for companies with a complex shareholder structure, overseas shareholders or those in certain industries (e.g. adult, financial services, crypto etc). This is in line with standard Know your Customer (KYC) protocols.

How do I set up a Telleroo account?

A company director is required to set up the account. Once the account is activated, additional administrators can be added to the account.

1️⃣ Notify your customer care manager that you'd like to utilise Telleroo so that they're able to discuss pricing with you and help you commence set up.

2️⃣ Sign up to Telleroo via this link:

3️⃣ Telleroo will reach out to the account holder directly with any further information needed. If you're waiting for more than 2 days for the process to progress, you can reach out to Telleroo via their chat support on the bottom-right corner of their webpage.

4️⃣ Once set up, Telleroo will send an account confirmation email to the director attached to the account. The director will need to add any additional admins to the account if they won't be processing payment to the account from month to month.

5️⃣ Set up Telleroo as your method of payment on PayFit. Go to Company Settings > Payroll Set-Up > Edit Payments > change Bank File Name to Telleroo. Once you've selected Telleroo as your payment option, you can also adjust some further Telleroo settings. E.g. you are able to choose the time your employees are paid and whether or not you wish to pay the HMRC via Telleroo as well.

If your Telleroo account is not set up in time for your pay day, we are able to assist you by providing a bank file of your choice for your first month with PayFit.

Paying your Employees via Telleroo

1️⃣ Run / finalise your payroll on PayFit – This step finalises the net payments and bank details that PayFit communicates to Telleroo. We submit the payment amounts by 12pm the day after you run payroll. If you pay your employees before 12pm, please finalise your payroll 2 business days before your actual pay day.

2️⃣ Top up your Telleroo account – Your Telleroo account is a bank account with its own sort code and account number. You’ll need to top the account up with the total sum of net payments to ensure all employees receive payment. This information can be found in Post-Payroll Checklist > Net and HMRC Payments to make for Telleroo to distribute the funds to your employees and HMRC (if you've set up to pay the HMRC via Telleroo).

The maximum amount that you can send to Telleroo in one transaction is £250,000 so if your salaries equal more than this, you'll need to send the funds in instalments.

3️⃣ (Optional) Payment approvals – you have the option to add an extra step to manually approve the payments processed on Telleroo before the payments are made. The default alternative is to let us make the payments automatically, so you’ll only need to top up the account. This is set up directly in your Telleroo account.

Frequently Asked Questions

Are my funds safe?

Telleroo is authorised by the Financial Conduct Authority (FCA) as an agency of Moorwand Ltd under the Electronic Money Regulations 2011, Firm Reference 902767, for the issuing of electronic money. We hold all corresponding funds in a safeguarded account at ClearBank Ltd.

If I have an issue with Telleroo, who do I contact?

Telleroo has their own chat support on the bottom-right corner of their webpage in case you have any questions about Telleroo and any of its services.

I already have a Telleroo account - how can I link it to PayFit?

For those with existing Telleroo accounts, we are able to generate a Telleroo file that you'll just need to upload to your own account as we won't be able to gain direct access to an existing account. Please speak to your customer care manager if you have any further queries on your paying employees using an existing Telleroo account.

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