Petl Pay vs international bank transfers
International bank transfers are designed for one sender paying one recipient. They can work well for simple one to one payments. They often become harder for project teams when fees and FX are unclear, settlement is slow, or one client payment must fund many contributors.
Petl Pay is designed for project based workflows where work logged is approved and automatically drafted into invoices, with payments embedded so invoicing, approvals, allocation, and settlement stay connected. This matters when one client invoice needs to map to multiple contributors across projects.
For cross-border work, Petl includes built-in wallets that can help teams receive major currencies such as USD and EUR with clearer fees. Where appropriate, funds can be held in major currencies or withdrawn into existing bank accounts, typically within around 60 seconds. Average fees are often around 0.5% for wallet-based routes, depending on corridor and configuration.
| Decision factor | International bank transfer | Petl Pay |
|---|---|---|
| Best fit | Simple one to one payments | Project teams with multiple contributors and a need for clean allocation |
| Workflow | Payment centric, invoices and approvals handled elsewhere | Project centric, invoicing, approvals, allocation, and settlement linked |
| Splitting a client payment | Manual splitting and reconciliation | Allocation logic tracked inside the project |
| FX and fees | Can include spreads and intermediary fees | Designed for clearer fee visibility across supported routes |
| Settlement timelines | Can be multi-day depending on corridor and intermediaries | Wallet-based routes can be faster; configuration and corridor dependent |
When international bank transfers work well
- One invoice, one beneficiary: simple one to one payments where splitting is not required.
- Low operational complexity: approvals and reconciliation are already handled elsewhere.
- Same currency, fewer hops: fewer FX surprises and fewer intermediary banks.
Where bank transfers become painful for project teams
- Multi-contributor projects: splitting one client payment across contributors becomes manual.
- Fee and FX uncertainty: total cost can be hard to predict once spreads and intermediaries are involved.
- Settlement lag: delays can block downstream contractor payouts.
- Reconciliation overhead: matching transfers to invoices across tools becomes a recurring admin task.
What Petl changes for cross-border projects
Petl treats invoicing and settlement as one workflow, with project context and allocation tracked from invoice creation to payout. This is useful when you need a clean master client invoice, but still want granular visibility into who is owed what inside the project.
- Create a project and set roles
Add the client, contributors, approvals, and allocation rules.
- Work is logged and approved
Approved work is drafted into invoices on a consistent cadence.
- Issue a master client invoice
Keep client billing clean while tracking contributor allocations inside the project.
- Client pays once
Payment status stays linked to the project and invoice context.
- Allocate and settle
Settlement can use available routes, including wallet-based routes and regulated rails where supported and appropriate.
Quick comparison table: workflow and operations
| Category | International bank transfers | Petl Pay |
|---|---|---|
| Primary unit of work | Transfer | Project |
| Approvals and audit trail | Usually outside the transfer | Designed to keep approvals and invoice context tied to settlement |
| Master invoices and collaboration | Not a banking concept | Supports collaborative invoicing and master client invoices |
| Splitting a client payment | Manual splitting and tracking | Allocation tracked inside the project workflow |
| Reconciliation | Often manual matching across tools | Project-level visibility to reduce reconciliation overhead |
Safety and compliance notes
- Identity checks: some routes require KYC or KYB depending on corridor and provider.
- Record keeping: keeping invoices, allocations, and settlement linked can simplify reporting.
- Route suitability: route choice depends on destination, currency, and compliance constraints.
FAQ
What is the main difference between Petl Pay and an international bank transfer?
A bank transfer moves money from one sender to one recipient. Petl Pay is designed for project workflows where invoicing, approvals, allocation, and settlement stay connected, including cases where one client payment needs to fund multiple contributors.
When do international bank transfers work well?
They can work well for simple one to one payments, domestic transfers, or cases where you do not need to split a single client payment across contributors and your finance team handles reconciliation elsewhere.
Why do bank transfers become harder for multi-contributor projects?
Because you often need manual splitting, manual payout runs, and manual reconciliation to track who is owed what, especially when FX, fees, and settlement timing vary.
Does Petl Pay support collaborative invoicing and master invoices?
Yes. Petl Pay supports collaborative invoicing workflows and master client invoices so teams can keep client billing clean while tracking contributor allocations inside the project.
Does Petl Pay use fiat rails or stablecoins?
Petl Pay can support settlement using available routes, which may include regulated fiat rails and stablecoin routes where supported and appropriate. Availability depends on corridor, compliance requirements, and configuration.
Payments, settled. Across projects, contributors & currencies.
One payment. Many payouts. Orchestrate multi-party payments instantly. Purpose built for project-based teams.
