For Further Credit or FFC, is a specific instruction utilized in financial transactions, especially in the case of contractor withdrawals. When organizations centralize incoming transfers to a primary account before distributing them to individual accounts, FFC ensures that funds are appropriately credited to the intended recipient.
This article covers some of the most Frequently Asked Questions from contractors about third-party withdrawals.
Adding FFC Withdrawal Method
Individual Accounts
✅ Step 1 - Add withdrawal method
Select the Finance icon and click on the Withdrawal Methods tab, then click (2) Add Method.
✅ Step 2 - Add the transfer details
Add the recipient's full name, country and currency.
Withdrawals to third-party accounts are not supported. Please make sure the bank account added is registered under the contractor's name.
✅ Step 3 - Set Account Ownership as For Further Credit
✅ Step 4 - Upload a statement or confirmation letter from the institution demonstrating that funds will be credited to an account under the contractor's name
For detailed requirements regarding statements, refer to the FAQ section below.
✅ Step 5 - Upon uploading the document, click Next to continue with the method creation process
Our team will verify the ownership of your account and get back to you within 24 hours.
Company Accounts
✅ Step 1 - Add withdrawal method
Select the Finance icon and click on the Withdrawal Methods tab, then click (2) Add Method.
✅ Step 2 - Add the transfer details
Add company name, country and currency.
✅ Step 3 - Set Account Ownership as For Further Credit
✅ Step 4 - Upload a statement or confirmation letter from the institution demonstrating that funds will be credited to an account under the company name
✅ Step 5 - Upon uploading the document, click Next to continue with the method creation process
Our team will verify the ownership of the contractor's account and get back within 24 hours.
FAQs
[ACCORDION] Are third-party private or business accounts supported for individual and company accounts?
No, third-party private or business accounts are not supported. However, For Further Credit (FFC) business accounts are supported, but contractors need to submit one of the following documents:
- Statement from the account held with the FFC institution
- Confirmation letter from the FFC institution
The document must include the following information:
- Account holder’s name
- Account number
- FFC institution’s name
- Date of statement/letter generation (not older than 3 months)
[ACCORDION] Why are third-party accounts not supported anymore?
Third-party private or business accounts are not supported for certain bank transfer methods (all SWIFT and US ACH) due to restrictions imposed by our banking partner.
[ACCORDION] Why is the withdrawal method disabled?
Withdrawals to certain third-party accounts are no longer supported.
Users with individual accounts can:
- Withdraw to a Private account under their Profile name
- Withdraw to FFC (For further credit) account under their Profile name
Users with a company account can:
- Withdraw to a Private account under their Profile name
- Withdraw to Business account under their Legal Entity name
- Withdraw to FFC (For further credit) account under their Profile name or Legal Entity name
[ACCORDION] Is there any extra cost for FFC withdrawals?
There are no additional fees for FFC withdrawals.
For more information on withdrawal fees, please see the About Withdrawal Fees And Withdrawal Minimums article.