Most Danish banks connect to Corpay One through Bank Connect, the banks' shared solution for exchanging payments and account information with other systems. For Corpay One to pay your invoices and update their status automatically, the Bank Connect agreement needs to meet a few requirements.
Tip: Feel free to send this article to your bank adviser when you order the agreement. That way you can be sure it is set up correctly from the start.
Checklist for your bank
The agreement is set up as a Bank Connect agreement (called Erhvervs Connect in some banks) with Corpay One as the provider.
The agreement is host-to-host, so payments from Corpay One do not need to be approved manually in the bank.
The bank sends daily account statements (CAMT) to Corpay One – CAMT.053 by default.
All accounts that will be used for payments from Corpay One are included in the agreement.
1. The agreement must be host-to-host
Host-to-host means that payments sent from Corpay One are created and executed in the bank automatically – without anyone having to approve each payment in online banking. Approval happens in Corpay One instead.
This matters because otherwise Corpay One loses track of the payment and cannot update the invoice status to Paid, unless the payment is approved in the bank on the same day it was sent. If you currently have payment approval switched on in your bank, it needs to be switched off for Corpay One payments.
It is possible to use Corpay One without host-to-host, but we do not recommend it, as it can prevent payments from going through.
2. The bank must send daily statements to Corpay One
Corpay One uses the bank's daily account statements to see that a payment has gone through, so the invoice automatically changes from Initiated to Paid. Without daily statements, Corpay One cannot update the status of your documents.
👉 See step by step how to set up the statement in your online bank: Set up a daily account statement (CAMT.053) for Corpay One.
Your Corpay One account is set up to receive CAMT.053 by default. Corpay One can also receive CAMT.052 and CAMT.054, but not all banks support all three formats – see Bank Connect's overview. If you want to use a format other than CAMT.053, write to us and we will change the setup.
Do you also use Bank Connect for your accounting system (e.g. e-conomic)? In some cases the accounting system can "take" the daily CAMT.053 statements so they never reach Corpay One. Many accounting systems use CAMT.053, so it can help to send the statements to Corpay One as CAMT.052 or CAMT.054 instead. Write to us and we will find the right setup together.
How the connection works
Add your bank account in Corpay One.
Set up the Bank Connect agreement through your bank adviser – with the requirements above.
Activate your bank account in Corpay One using the function ID and activation code you receive from the bank.
If you have any questions, write to us in the chat or at supporteu@corpayone.com.