| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2019 - 31 Dec 2019 | 22 Jun 2020 | 19 | 85% | 12% | 3% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms with suppliers under £50k value is 30 days. For above £50k threshold above 45 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
45
Steps we follow: 1.) Reach out to them by email for clarification on delay 2.) Have a call with said team 3.) if above does not work and can not be resolved escalate to senior management 4.) Involve legal team if required
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Wirex Limited is part of the Wirex group, which operates a crypto wallet and payment platform. The group's services include stablecoin and fiat accounts, Visa and Mastercard-linked cards, currency exchange, savings products, and global money transfers for consumers and businesses. It also provides infrastructure for developers, including APIs for moving, storing and converting stablecoins, card programme launches, global stablecoin bank accounts, and a settlement network for processing USDC and EURC transactions. The UK entity is registered in London and its stated business activity is financial intermediation. The platform combines traditional banking features with blockchain-based tools, aiming to let users manage both fiat and crypto funds from a single account.
Generated from the company's website and Companies House records. Sources: wirexapp.com