Since 2017 we've enjoyed a fantastic relationship with Telleroo, who enabled our users to save countless hours of manually entering details for each payment to each of your tutors every time you wished to pay them.
Unfortunately, we had a meeting with them earlier this week in which they told us they are taking the business in another direction, and won't be able to support our clients any more. After the 1st March 2020, Telleroo will no longer be a service available to any of our customers through TutorCruncher.
We've spoken to a number of providers in the past week who could offer the same service. Whatever happens with these providers, we plan to build easy to use exports from within TutorCruncher for tutor payments that will be compatible with as many banks as possible, assuming that they all have a service that allows this. It would be extremely helpful if you could login into your online banking to check to see if you can upload a CSV for bulk payments, and if possible send us a CSV template of what's required.
Here are the details of the alternative services we've looked at already:
Payment Rails work in a similar way to Telleroo, the main difference being cost. They charge £39 per month plus £1 per payment. At £239 for 200 payments, this is the most expensive of the currently available options.
Modulr offer a comprehensive solution where the client pays you via bank transfer or Stripe into an account held with them in your name, and the payment is split between you and the tutor immediately. They charge 30p per payment each way. The combined cost gets quite high here, especially for smaller transactions. For each invoice you send, you pay 30p to receive the funds plus 30p per tutor who has lessons on that invoice. You would also pay Stripe fees on top of this for those payments.
TrueLayer offer a service that works with open banking so can be used for payouts with all banks and doesn't require setting up a different account with another provider. The cost per payment is 20p so it's even cheaper than Telleroo. The significant downside (for the moment) is that there's implementation for bulk payments. So the workflow would involve you confirming each payment with your bank, either through an app or via email or whichever medium your bank prefers. If you're paying 100 tutors, you'd need to enter your password/MFA 6 digit code 100 times, and this would become very tedious very quickly. However, they have told us they plan to implement batch payments in the future, so our plan is to keep an eye on that and, depending on other providers at that time, possibly integrate with them when they have batch functionality.
Those are the 3 main contenders we've had meetings with in the short time since we met with Telleroo on Wednesday. We don't feel like any of them are approaches our customers would be happy with for the moment, so our plan is that Payout Exports for each of the banks will be the immediate approach. It won't be as slick, but should still save you almost the same amount of time. If you have any particular view on any of the solutions, please let us know.
We'll be in touch when we have more information on Payout Exports in TutorCruncher. If you have any questions, simply get in touch.