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How to transfer funds from your Spendesk Wallet to your bank account

You can now transfer funds from your Spendesk Wallet back to your company's business bank account. This feature gives you greater flexibility to manage your company's liquidity by moving money out of Spendesk when needed.

Updated this week

'This feature is coming soon. Please read the below for information purposes only.'

📋 Prerequisites

To transfer funds from Spendesk wallet, you must meet the following criteria:

  • Role: You must be an Account Owner or an Administrator with specific rights

  • Account Region: Your wallet must be an EEA account (funds in EUR).

  • Destination: You can only transfer funds to your company registered bank account(s) (your company bank account you already used to top-up your Spendesk account).

⚙️ How it works

  1. Navigate to the Wallet: Go to the Settings > Wallet tab in your Spendesk dashboard.

  2. Initiate Transfer: Click on the "Transfer funds" button.

  3. Select Destination: Choose the business bank account you wish to send funds to. Note: If you have multiple whitelisted accounts, you will be able to choose from the list.

  4. Enter Amount: Input the amount you wish to transfer.

    • Minimum: 1€

    • Maximum: Your Available Balance (see below).

  5. Authenticate: You will receive a notification on your mobile phone to approve the transfer via Strong Customer Authentication (SCA).

    If you do not have the app installed, please download it by scanning this qr code with your device:

  6. Confirmation: Once validated, you will receive an email confirmation when the funds have been successfully debited from your wallet.

💡 Key Information

  • Available vs. Current Balance: You may notice your "Available Balance" for transfer is lower than your "Current Balance." This is because we deduct provisioned funds (money reserved for pending card transactions or seizures) to ensure you don't overdraw your account.

  • Transfer Speed: Transfers are processed as SEPA Classic transfers.

  • Security: For security reasons, transfers over 100k€ may be subject to an additional internal review, which could slightly delay processing.

📝 Accounting & Reporting

  • Tracking: You can view the history of your withdrawals in the "Wallet funding history" tab.

  • Statements: These transactions will appear on your monthly Account Statement.

  • Exports: Currently, these wire-out transactions will not appear automatically in your accounting export/banking journal. Please refer to your Account Statement for reconciliation.

❓ FAQ

Why can't I see the "Transfer funds" button?
This button is only visible if you are an Account Owner or an Administrator with specific transfer rights and your account meets the eligibility criteria (EEA region).

Can I send money to a new bank account?
No, for security purposes, you can only wire funds to a bank account that has already been registered (e.g., an account you have used to top up funds previously). To register a new bank account, please make a transfer from this bank account to your Spendesk wallet.

I have money in my wallet, why is my withdrawable amount = 0€?
This usually happens if all your funds are currently provisioned for pending card payments. You can only withdraw "free" funds that are not tied to an ongoing transaction.

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