Frequently asked questions

Lesslie Technologies AB is a Payment Institution regulated by the Swedish Financial Supervisory Authority (Finansinspektionen). Lesslie is a payment service that simplifies cross-border payments and reduces associated costs. By streamlining administrative accounting processes and reducing banking fees, Lesslie makes international payments easy and affordable for businesses of all sizes.

Lesslie was founded in Stockholm in 2020 by Gunnar Rytterling and Oscar Viken, both with backgrounds in banking and payments (Nordea & Klarna). Their vision was to integrate corporate banking services with ERP, business systems, and tax accounts, rather than relying on traditional internet banks. This led to the creation of Lesslie - “Your international business partner”. Overall, Lesslie provides a secure and reliable solution for companies managing cross-border payments, with a focus on simplicity, affordability, and efficiency.

Lesslie was launched in Stockholm in 2020 by Gunnar Rytterling, Oscar Viken, and Filip Haglund. Both Gunnar and Oscar bring extensive experience from their careers in banking and payment solutions at big firms like Nordea and Klarna.

Their shared vision was to revolutionise corporate banking by integrating these services directly with ERP systems, multi-currency accounts, and tax accounts, moving beyond the limitations of traditional internet banking. This innovative approach led to the development of Lesslie PAY, a tailored solution designed to meet the evolving needs of modern businesses saving businesses with cross-border payments more time and money.

Lesslie Technologies headquarter is located at Västra Trädgårdsgatan 9 in Stockholm. 

*However, we will after the summer of 2024 change our headquarter location.

Our core values represent the essence of our business and how we work together. We take ownership of everything we do, aim to be pioneers in our field, work smart and efficient to achieve the best results, and prioritise strong team spirit to enhance our collaboration and success.

If you have a business with international payments and you want to simplify your accounting and lower your corss-border payments with 30%, then the answer is yes, Lesslie is the right choice for your business. What Lesslies customers have in common is that they've all experienced the headaches of:

• Traditional banks hidden fees regarding cross-border payments/FX
  
  
• Boring and time consuming administration
  
  
• The operational risk which comes with accounting and numbers.

With one BankID login, you will be able to sign and pay your cross-boarder payments in seconds. We integrate your internet bank with your ERP system and tax account, which gives you a very clear overview of all your accounts and transactions.

• Your own IBAN
• A free currency account to over 180+ countries with 37 diverse currencies
  
  

Depending on your ERP system we can automaise the bookeeping process for you which means we will:

• Write all vouchers linked to your international payments
• Upload all necessary bank documents

Depending on your transaction volym you can save between 30% with Lesslie PAY. However, easiest way to give you an exact number we recommend you to contact us so that we can do a calculation together of how much your business can potentially save using Lesslie.

Our service is free of charge with no start-up or monthly fees. We offer a simple, affordable, and transparent solution for your cross-border payments with no transaction fees

Step 1: We automate the end-to-end payment process for you. This simply means that Lesslie automates the handling of supplier invoices in your ERP system. When an invoice has been approved, we fetch the data and you can sign in Lesslie PAY. After the sign, we create the voucher and the Invoice PDF.

Step 2: The funding transfer, we initiate a SEK transfer equivalent to the FX conversion from your bank account to your Lesslie account. We also attach the voucher and bank statement PDF"

Step 3: Next, we execute the conversion from SEK to the destination currency using our exchange rate, and we attach the voucher and bank statement PDF.

Step 4: Once this process is complete, your cross-border payment process has been completed. Your voucher has been debited, the FX differentiation account has been updated, and your bank statement PDF has been attached.

In summary, Lesslie automates the exchange of currencies, payment, and the bookkeeping for you

Before you accept and pay your invoice, we will provide you with a proposal for the exchange rate. The exchage will then take place in connection with the due date of the invoice.

File payments are as easy as with a bank but much easier and better. Lesslie PAY ensures that the payments are delivered correctly.

Afterwards, you can report back the payments with a file in CAMT format. That is, you download a file from Lesslie PAY which you input into the business system to clear the invoices and create vouchers.

Of course, the same terms apply as for all our customers: You reduce your currency exchange rates by up to 30% compared to the traditional banks. 

You can download various reporting files such as:

• CSV
• PDF

No, of course not. There is no extra charge for using file payments in Lesslie PAY.

It is super easy to get started with Lesslie PAY!

1. Connect your accounting system - Choose the accounting accounts to register Lesslie transactions.
2. Connect the bank - Select which bank account to link to your Lesslie account and then confirm with BankID. Done!
3. Fill in the Know Your Customer form (KYC). - After that, we activate your account so you can immediately start saving time and money.

Our onboarding is fast, smooth, and simple. You will be up and running in no time and can immediately start saving both time and money on your cross-border payments.

If you have created an account on Lesslie PAY but something seems to be wrong, please contact our customer support.

We are here to assist you and ensure that your account is functioning properly!

Email us at: info@lesslie.se

Call us at: 08 5202 77 62

If you're using Lesslie PAY, you can now take advantage of Free Express Payments. As the name suggests, these are completely free of charge and without any fees, unlike traditional banks that charge 300 SEK or more for making an express payment to another country.

Good to Know:

• No fees: There's no charge for using Free Express Payments – the usual banking fee for international payments does not apply. Additionally, no express fee is taken, which typically ranges between 300 - 500 SEK.
  
  
• Compliance Check: The first time you use Free Express Payment, your bank may contact you to verify the recipient. This is standard procedure and only happens once.
  
  
• Handelsbanken Customers: If you bank with Handelsbanken, you'll always use Free Express Payment and won't need to sign with a bank token anymore.
  
  

Exceptions for "Joint Authorisation": Accounts that require two or more signatures for payments cannot use Free Express Payment yet. You can of course continue using Lesslie as usual.

Payments with a short processing time are automatically made as free express payments. You also have the option to manually select express payment for any invoice. Your suppliers will be paid the same day if you sign before 09:00 am. This applies to most markets including Europe, the USA, Canada, Hong Kong, and several other countries. 

• Before 09:00 am: For most currencies and countries if you sign your transfer before 09:00 local Swedish time, the supplier will have the money the same day.
  
  
• After 09:00 am: The supplier receives the payment the next day.
  
  
• For less common currencies: The payment reaches the supplier after 2 days.
  
  

The main advantages of our new feature are:

• Convert excess funds from your currency accounts to your main bank.
• Freely exchange between different currencies to more easily net invoices.
• Hedge against currency fluctuations by sending money to Lesslie in advance from your main bank.
• Lesslie automates your bookkeeping, of course.
• For those who send and receive money in various currencies, Lesslie PAY handles the currency exchange for you, just as usual. 

Of course, you can! If you are currently a portal customer with us, you can now switch to being an app customer in Lesslie PAY and take advantage of the new functionality. Please contact our Customer Success Manager Hayriye, and she will assist you further.  

Yes, Lesslie Technologies AB is a Payment Institution regulated by the Swedish Financial Supervisory Authority (Finansinspektionen) with identification number 55327.

Deposits made to Lesslie's platform are insured by Försäkringsbolaget IF. As a customer, this means that you have the right to claim compensation directly from Försäkringsbolaget If, even if Lesslie fails to fulfill its obligations.

This insurance covers the entire deposit amount, unlike the government deposit guarantee, which only applies to amounts up to SEK 1,050,000.