Prerequisite information to take into account when asking for funds redemption.
If you need to transfer or withdraw money from your Spendesk wallet back to your company’s bank account, the process involves a few specific steps and requirements. Below is a complete guide that outlines the procedure and key considerations.
Overview of Fund Transfer Process
Spendesk allows users to transfer funds from their wallets back to a verified corporate bank account. This process ensures compliance with security and financial policies. Transfers typically occur within standard processing timelines.
Prerequisites and Required Information
Before initiating a transfer request, make sure the following requirements are met:
Verified Bank Account: The destination bank account must be verified in Spendesk. Transferring to unverified accounts is not allowed.
Sufficient Wallet Balance: Confirm that there are enough funds in the wallet to cover the requested transfer amount and any pending transactions.
Required Information: Your company name; Bank account details; including IBAN; Exact amount for the transfer; Proof of account ownership, if requested
Step-by-Step Instructions for Fund Transfer
Send an email to Spendesk support including these details: - Your company name - The destination bank account details and IBAN - The amount to transfer
Spendesk will process the transfer.
The funds will be sent to the original bank account used to fund your wallet, as long as it is verified. Transfers typically take several business days.
Handling Transfer Rejections
If a transfer is rejected, the rejected amount will automatically be initiated for return to your corporate bank account. Ensure all account details are accurate and verified to avoid delays. For specific timelines, consult Spendesk’s support.
Additional Considerations
Transfers can only be made to corporate accounts under your company’s name for security and compliance reasons.
Pending transactions or card budgets must be settled before initiating a withdrawal.