FAQ

To sign up for Bancoli, enter your name and confirm your email address, provide details about your business, and choose a handle. Once you've completed these steps, you will be able to create invoices free of charge.

Starting to use Bancoli is very easy, and takes less than a minute. For the signup process you will only be asked for:

This process helps us identify your business and helps to ensure trust between buyers and sellers, so, it is mandatory that you complete this process to transact and manage funds in Bancoli. You may still use Bancoli for invoicing only without completing the verification process.

The verification process enables us to validate your identity and the nature of your business. This helps ensure compliance with anti–money laundering laws while doing business internationally and provides additional trust for buyers and sellers.

Before you start, we strongly recommend that you review which documents will be required so that you have them at hand in order to speed up your verification process.

Bancoli is a invoicing, payments and banking platform in one, that offers early payment discounts and rewards for prompt payment, but also provides features such as: e-invoicing, USD bank accounts, cash flow management, and more.

Bancoli encourages buyers through yield opportunities and rewards in exchange for making funds available even earlier to their suppliers. Bancoli does not provide any type of third-party financing.

Yes, Bancoli is a great option for solopreneurs and freelancers because it allows you to create, send and receive invoices in any currency worldwide, manage funds within the app, and verify who you're working with.

Yes, your buyer does not need to be in your Bancoli network to make a payment to you. You can send the invoice and they would be depositing the payment to your Bancoli account. However, to enjoy all the benefits that Bancoli has to offer, including rewards, and yield opportunities, we recommend you encourage your clients to join in.

Bancoli supports account holders worldwide except the following countries: Afghanistan, Belarus, Burma, Central African Republic (the), Cuba, Democratic Republic of Congo, Ethiopia, Iran, Iraq, Lebanon, Libya, Nicaragua, North Korea, Republic of Mali, Russia, Somalia, South Sudan, Sudan (includes Darfur), Syria, Venezuela, Yemen, and Zimbabwe.

Funds in Bancoli are safer than within any normal bank account that's commercially available in the U.S. or Europe. Since most banks engage in lending activities, they generally have less than 5% of the assets available for redemption at any given time, while Bancoli has 1:1 100% backing for every dollar that is held in Bancoli's USD Custody solution. In addition, Bancoli works with some of the safest global financial institutions and intermediaries to provide an ecosystem of both reliable and fast transactions in 12 currencies.

Bancoli USD Custody is a premium solution to lock and store USD in a 1:1 backed account where funds are never lent out. These dollars are stored within the U.S. regulatory perimeter and guaranteed by the U.S. Treasury.

Bancoli provides a solution for businesses worldwide that are looking to grow their business with improved cash flow and liquidity and stronger business relationships.

Yes, you can accept credit card payments by adding your existing credit card processor when creating an invoice.

With Bancoli you can create unlimited e-invoices per day/month, though the best part of using Bancoli is not only creating invoices but also managing funds and accelerating your cash flow through guaranteed invoices.

A guaranteed invoice is an invoice that your buyer has already agreed to pay by the due date and has allocated funds to cover the invoice in Bancoli. You may access the funds early if needed.

We are currently working on having this feature available for our clients. Please submit a ticket with more details regarding the integration.

You can request payments from your buyers whenever selling a product or service. To create an invoice, you just need to complete a one-minute signup process to create and schedule your invoice, and within minutes you can send it to your buyer.

Fees for currency conversion and transactions are paid by the user who makes the withdrawal, these fees can also be paid using Bancoli rewards.

Bancoli provides unlimited invoicing per month at no charge.

Invoice creation within Bancoli is free of charge, you may upgrade your account to a monthly membership for additional features like managing funds, cash flow and banking benefits, additional users, and more. Please see our pricing page for more information.

Businesses using the Starter/Grow plan are limited to one user. If you are using the Scale plan, up to five team members are available, upgrading to the Enterprise plan allows unlimited users. Please see our pricing page for more information.

Bancoli plans are charged monthly.

Yes, you may include additional team members by upgrading to the Scale plan. Please see our pricing page for more information.