This article is part of a collection of articles regarding your transition to our new payment service provider Adyen.
1️⃣ For customers having signed the T&Cs and validated their KYC before 14 June 2024
There are two possibilities to fund your new e-money account(s) – we can do it for you, or you can do it yourself before 14 June EOD.
Ways to fund your new e-money account
We’ll automatically transfer funds from your current account to your new e-money account(s) overnight on 14-15 June 2024. If you’re happy with this, then there is no action required.
What we’ll do
We'll transfer your existing balance, rounded to the nearest 100 GBP, to your new e-money account. For instance, if you have 499 GBP left in your account, we'll transfer 400 GBP into the new account. Any amount under 100 GBP will remain in your current account.
We’ll only transfer funds that aren’t already committed to your operations, such as subscriptions or other pending payments.
You will receive an automated email specifying the amount that has been moved as well as the balance remaining in your "old" account.
！This step can only be executed if your account contains enough funds
In case of insufficient funds on your “old” account, we will activate your new e-money account overnight from 17 - 18 of June 2024, with a balance of 0 GBP, and you will need to fund it as soon as possible. All new requests (such as single-use and recurring virtual cards) will be linked to your new account starting June 18th.
Can I transfer funds myself instead?
Of course! If you’d prefer to transfer funds to your new account yourself there are two options:
Option 1: use the Faster Payments Service (FPS) from your bank account
Option 2: transfer the funds directly from your ‘old’ Spendesk account
Whichever option you choose, please do so before the end of Friday 14 June 2024.
Unfortunately, it’s not possible to fund your new account by using BACS transfers or a credit/debit card.
2️⃣ For customers having signed the T&Cs and validated their KYC AFTER 14 June 2024
We’ll automatically transfer funds from your current account to your new e-money account(s), there is no action required.
What we’ll do
We'll transfer your existing balance, rounded to the nearest 100 GBP, to your new e-money account. For instance, if you have 499 GBP left in your account, we'll transfer 400 GBP into the new account. Any amount under 100 GBP will remain in your current account.
We’ll only transfer funds that aren’t already committed to your operations, such as subscriptions or other pending payments.
You will receive an email specifying the amount that has been moved as well as the balance remaining in your "old" account as soon as your funds have been moved.
✨ Note that this step will only be executed if your account(s) contain enough funds.
In case of insufficient funds on your “old” account, we will activate your new e-money account overnight with a balance of 0 GBP, and you will need to fund it as soon as possible. All new requests (such as single-use and recurring virtual cards) will be linked to your new account.