A bank transfer is the direct transfer of money from one bank account to another. This method is commonly used for high-value travel bookings, especially in B2B transactions.
Many travel companies and customers prefer bank transfers for large transactions, such as luxury vacation packages or corporate travel. Bank transfers can also be used by travel agencies to pay suppliers or wholesalers, particularly for bulk bookings.
Bank transfers can be slower than other payment methods, especially for international transactions, where processing times can be several days. Additionally, customers might find it less convenient than using a credit card or digital wallet.
A corporate travel manager may prefer to settle large travel expenses through bank transfers to avoid credit card fees on high-volume bookings.
.png)
Felloh’s Open Banking payments initiate a bank transfer from your customer’s bank account directly to your business’s bank account, along with booking reference data for easy reconciliation.
