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⭐️ Steps to upgrade for free to a better Spendesk
Updated over a week ago

This article is part of a collection of articles regarding your free upgrade to an improved Spendesk (Spendesk Financial Services).

Soon, Account Owners or Admins will have a few tasks to complete on the company's Spendesk account to carry out the free upgrade.

This evolution will not impact any account(s) and payment card(s) in currencies other than €.

Why this change?

We are launching Spendesk Financial Services, a payment institution licensed by the Autorité de contrôle prudentiel et de résolution (ACPR) attached to the Banque de France.

Spendesk Financial Services replaces our current third-party solutions. It’s a big milestone for Spendesk, and we are really excited about the increased innovation, security and reliability it will bring you.

Step 1: Accept the new Terms & Conditions (estimated time: 5 minutes) (Account Owners)

There are three boxes to tick.

  • Certify that you are an authorized representative

A legal representative is a person who is responsible for the company. This person has the authority to execute legal documents and to take decisions such as opening a bank account for the company. If you are not a legal representative, you will need to provide a Power of Attorney, delivered by a legal representative.

More information on this article.

  • Validate New terms and conditions

We included the following main changes in this new version of the terms and conditions:

  • The structure has been updated to make the terms and conditions easier to understand and navigate;

  • Some articles have been inserted (confidentiality clause, third-party claims) and other articles have been clarified or simplified (dematerialization service, liability, etc.);

  • The terms and conditions of Spendesk Financial Services (Payment services framework contract) have been included in Annex 1, replacing Okali and TPML terms.

These new terms and conditions of Spendesk will become effective on the date when we notify you of the opening of your Spendesk Financial Services payment account(s), and at the latest on 30th June 2024.

  • A temporary mandate to set up Spendesk Financial Services

To improve our payment services offering in € (EUR) for EEA Customers, we will be replacing current third-party providers, Okali (ex-SFPMEI) and Transact Payments Malta Limited (“TPML”), with Spendesk Financial Services from early 2024.

This mandate allows us to perform the following tasks on your behalf, so you can benefit from the evolution of our services:

  1. Terminate the contractual relationship with Okali and TPML;

  2. Take all strictly necessary steps with Okali to transfer your data, history, and any other KYC information to Spendesk Financial Services SAS;

  3. Once you are fully operating via Spendesk Financial Services SAS, and if necessary before the closure of your Okali account, transfer any remaining funds from your Okali account to the new payment account(s) opened with Spendesk Financial Services.

Step 2: Replace your existing cards with new VISA Business Premium cards for your Requesters (5 minutes) (Admins or Account Owners)

Your existing Mastercards will be discontinued for all users and replaced by Visa Business Premium cards for free. In this step, you can confirm who in your company shall receive the new cards and what their shipping address is.

This step enables you to order your new Visa cards well ahead of time so it doesn't interrupt your business operations. The existing Mastercard will be blocked only once the new Visa card has been activated by the user.

Step 3: Review your customer information (estimated time: 5-15 minutes) (Account Owners)

To facilitate this task for you, we have pre-filled your account with information you had submitted earlier. If your information is up to date, you will just need to confirm it is the case. If additional documentation or information is needed, it shouldn’t take more than a few minutes in total.

We will notify you once this step is available.

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.

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