As a payment services provider, Spendesk is required by law (articles L561-5, R561-5 and R561-5-4 of the French Monetary and Financial Code) to identify the persons using its payment services as Spendesk has an obligation to fight against money laundering and fraud.
To whom will it apply?
👉 All users (Requesters) who want to use physical and virtual cards (single-use & recurring).
What does this mean?
All new cards (physical and virtual) have to be in the name of an employee with an active Spendesk profile, with their first name and last name on the card.
This means non-nominative cards are not longer compliant (example: First name: Finance, Last name: Team).
Can a user have multiple nominative cards (1 card per entity)?
Of course ! If you're part of Spendesk SAS, Spendesk GmbH and Spendesk Ltd for example, you can have 3 nominative cards (1 on each wallet).
Why is this applied now?
As part of of your free upgrade, physical and virtual (recurring) cards will be renewed. During the card renewal step, the name on the physical cards will automatically be pre-filled from your Spendesk user name visible in My Profile.
How do I provide this information?
👉 Requesters with access to a non nominative (generic) profile, can change the name from My Profile on Spendesk.
👉 The Account Owner or Admins can update the first name and last name if needed, from Settings > Members.
We recommend making the change before renewing physical and virtual (recurring) cards.
What will happen if I do not provide this information?
You will be able to use your physical and virtual cards for a limited amount of time.
Non-nominative accounts and associated cards will be blocked by our compliance team going forward.
What happens to the current generic cards?
Current generic cards can still be used as they were issued by our former banking partner.
💡 They will be deactivated automatically, once you activated your new VISA card.
Questions?
We have worked hard on making this upgrade effortless for you but if you have any additional questions, you can leverage the following resources:
Our Help Center (you can review other articles of this collection)
Our internal template to simplify communication to your company;
Or, contact your Customer Success manager or at customer@spendesk.com if you can't find the answer you need.