How to prevent delays in receiving salary and contractor payments

Article author
Marinica
  • Updated

To help prevent payment delays, all users must ensure that their bank account information in Remote matches their bank's records exactly. Banks compare the account holder name, account number, and routing information. Any mismatch can cause a payment to be rejected or delayed.

How to add or update your bank account details in Remote

When you join Remote and complete your profile for the first time, you are asked to add your bank account details so you can receive payments.

After onboarding, you can review or update your bank account in the Deposit methods tab.

Steps to review and update your bank account

  1. Sign in to your Remote account.

  2. Go to Deposit methods.

  3. Select the bank account you want to review.

  4. Carefully check your details:

    • Compare the Account holder name in Remote with the name on your most recent bank statement.

    • Verify that all details are entered correctly, including IBAN, account number, routing number, BIC/SWIFT, address, and other country-specific fields.

    • Look for extra spaces, missing digits, or typos.

    • If using a personal bank account, your bank account name should exactly match your legal name in your Remote account.

  5. If something is incorrect, click Edit and update your details.

  6. Save your changes.

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Note: If you have multiple bank accounts set up, repeat these steps for each account.
 
For Contractors: If using a business bank account, please provide a supporting document showing your ownership interest in the business. You must be an Ultimate Beneficial Owner of a business to utilize their account for payouts at Remote. Depending on your business type and jurisdiction, the supporting document could be articles of association, shareholder documents, an organisational chart, or a UBO registry extract. Failure to provide this document could result in further verification requests or payment delays.

Common reasons for payment rejection

  • Full name: Use your complete name, including middle names if they appear on your bank account. (e.g. John Erik Doe vs John Doe)
  • Compound surnames: Entering "Smith Johnson" when your bank has "Smith-Johnson" on file.
  • Special characters: Enter accents, hyphens, or other characters exactly as your bank shows them. (e.g. José vs. Jose)
  • Abbreviated names: Using "Mike" instead of "Michael" as shown on your bank account.
  • Name order: Entering "Wei Zhang" when your bank has "Zhang Wei".
  • Transliteration: Different Latin spelling of names originally in Greek, Cyrillic, Arabic, or other scripts. Your bank should be able to provide you with the correct Latin spelling as used on their system.
  • Spacing: Ensure spaces between name parts match.
  • Spelling: Even small spelling differences may cause payment issues. (e.g. Jane vs Jaen)
  • IBAN Format: Ensure your IBAN is entered correctly without spaces or with spaces exactly as your bank requires for electronic transfers.
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You can think of it like a passport check: every letter, space, and character needs to match exactly for the payment to go through.

Regional regulations

  • SEPA (Euro payments): Starting October 9, 2025, the Verification of Payee (VoP) regulation applies to all SEPA payments in euros. Banks are required to confirm that the account holder name matches the payment details exactly.

    This applies to all employees and contractors based in any SEPA country who are receiving payments in Euros (EU and EEA countries, Andorra, Monaco, San Marino, Switzerland, United Kingdom, Vatican City State, and more as defined by the European Payments Council).

  • Hong Kong: Starting May 18, 2026, banks may reject or return auto credit payments and payroll transfers if the payee name in the payment instruction does not exactly match the name registered with the receiving bank. (Hong Kong Monetary Authority circular in Chinese and in English)

Frequently Asked Questions (FAQs)

Does this apply to all users?

Yes. All users must ensure their bank details match their bank’s records to prevent delays.

What happens if my details don't match?

Your bank may reject or return the payment. Once corrected in Remote, the payment can be sent again.

What if my name recently changed?

We recommend updating it with your bank first. Once your bank confirms the change, you can update your details in Remote so everything matches.

What if I use a joint account?

Yes, you can use a joint account. Just make sure you enter your own name exactly as it appears on your bank statement. This helps ensure payments are processed correctly.

What if my bank account is in my company name? (contractors)

Enter your business name exactly as it appears on your bank statement. This ensures payments are processed without delays. If unsure, check your latest bank statement to confirm how your financial institution lists the account.

What if my bank uses non-Latin characters?

If your bank details use non-Latin characters, please contact your bank for the Latin spelling they use for transfers. Entering that spelling in Remote helps make sure your payments arrive without delay.

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