This article is part of a collection of articles regarding your free upgrade to an improved Spendesk (Spendesk Financial Services).
Have a look below for more info:
| Before | After |
Payment Institution License | Okali | Spendesk Financial Services |
Card scheme and processing | Scheme: Mastercard Card Processor: FIS Money Transfer Connections: Arkea Segregated Accounts: Arkea Core Banking System: Bankable | Scheme: Visa Card Processor: Marqeta Money Transfer Connections: BPCE Segregated Accounts: Natixis Core Banking System: Spendesk Financial Services |
Risk policy | Geographies: EEA (excluding Estonia, Cyprus, Slovenia, Iceland and Liechtenstein), UK Industries: Some prohibited industries Risk Assessment: the overall risk assessment is determined by the highest of 4 triggers: industry, legal form, shareholding structure, presence of politically exposed person (PEP). | Geographies: EEA only Industries: case-by-case by Compliance Risk Assessment: smoother process with no discriminating factors (TBC) |
KYC/Trial | KYC flow with our banking partner. 10k trial available for low-risk clients. | KYC flow with our banking partner. No trial is available. |
T&Cs Signature | Electronic signature Manual signature possible | In-app checkbox |
Top-up | Stripe SEPA wire transfer | SEPA wire transfer Instant SEPA (not on weekends nor public holidays) |
Account Statements | Current Month (M) data and balance are displayed | No current month (M) data or balance is displayed
Month M-1 data/balance is displayed and exportable
Daily account statement available for daily transactions |
Currencies & geographies | Any geography EUR, GBP, USD, NOK, SEK, DKK accounts | European Economic Area (EEA) EUR (SEPA only) No other currency nor geography for now |
Card Types | Mastercard Business | Visa Business Premium |
Card limits | ||
Subscription cards | Valid for 4 years | Valid for 2 years |
Card shipping | 1-3 weeks | 2-3 business days + shipping |
Card tracking | Shipping Status available for Spendesk workers | Shipping fulfillment status (ordered, rejected, shipped, not delivered) available
Tracking Number available |
Pay with a physical card | Wherever Mastercard is accepted | Wherever Visa is accepted |
Funds held |
| Natixis |