How to Invite a Counterparty

A Counterparty is an entity outside of your organization to send or receive money from. Upon creating your counterparty, you can add the account information by adding the account information (if on hand) or by sending an email through Modern Treasury.

 

You will want to click on the blue box to the right of the Counterparty Name for "Actions".

From there, you will want to click the button for "Send Invitation". You will see a screen pop up, outlining whether you need to pay or charge the individual and the information details you will want to collect. Be sure to check any boxes that are not defaulted if you need additional information.

Once you click "Invite" the Counterparty will receive an email in their inbox prompting them to input their account information. Once filled out, Modern Treasury will fill in the account information within the Counterparty and you can begin initiating payment orders with the new Counterparty information.

 

We highly recommend using Plaid or microdeposits to verify the accounts you are collecting to ensure accurate account information and to assist in avoiding returns, however, verifications are not required.

 

You can anticipate your company's name in the subject line of these external emails. Please reach out to your Modern Treasury account manager for assistance with setting up your logo if you would like it to be included in the external email.