Make a recurring payment reservation between users
bitwallet allows automatic payment of a fixed amount of currency between users on a monthly or specified monthly basis. Since a fixed amount can be paid automatically on a fixed date to a fixed recipient, it is possible to avoid forgetting to make payments.
The payee must be a registered corporation or sole proprietorship, and must be used for business purposes.
This section explains the procedure for making a recurring payment reservation between users.
1. Select “Payment (bitwallet Users)” (①) from the menu and click “Recurring Payment” (②).
2. Confirm that “Schedule a Date (Advance Payment)” (①) and “Repeat (Recurring Payment)” (②) are selected in “Select Preferred Time” and “Remittance Type”.
Select the currency (③), the recipient email address (④) and the payment amount (⑤).
3. In “Payment Month,” select either “Monthly/Specified Month” (①), and in “Payment Date,” set the specified date (②).
To specify the payment time, check “Specified Time” (③) and select the specified “Time zone” (④) and “Time” (⑤).
To specify the end payment date for a recurring payment reservation, check the “End Payment” (⑥) and set the “Closing date” (⑦).
If you wish to send a message, enter the message in “Message” (⑧).
Finally, enter the “Name of Recurring Payment” (⑨) in the “Transaction Name” field, and then click “Next” (⑩).
If no specified time is set, payment is made at 0:00 Singapore time (UTC +8:00).
4. Confirm the details of the recurring payment reservation on the confirmation screen (①).
Enter the “verification code” (②) for 2-Factor Authentication in the “Security Verification” section, and click “Schedule Payment” (③).
(The account name of the recipient will be displayed as the bitwallet nickname. If no nickname is set for the recipient, the registered name of the recipient’s wallet will be partially hidden).
If you have not set up 2-Factor Authentication, enter “Secure ID” (①) instead of “Authentication Code” and click “Schedule Payment” (②).
5. When “Complete” is displayed, the reservation of a recurring payment between users is complete. Click on “Back to Top”.
6. When the “Payment (bitwallet Users)” screen appears, confirm that the recurring payment reservation (②) that you registered is displayed in the “Recurring Payment List” (①).
When the payment is completed on the specified date and time for the recurring payment, the payment amount will be deducted from your wallet balance.
7. After setting up a recurring payment reservation, an email titled “Recurring payment has been scheduled” will be sent to your registered email address.
The email will include recipient account,recipient name (nickname), payment amount, payment fee, payment amount, month, specified date, specified time, closing date, message, and name.
8. After the recurring remittance is completed, an email titled “Payment has been completed (Recurring Payment)” will be sent to your registered email address.
The email will include transaction ID, recipient email address, recipient name (nickname), payment amount, payment fee, and payment amount.
