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❓FAQ - your transition to our new partner Adyen
Updated over a week ago

Upgrade steps

1. Prepare your upgrade as an AO

You can:

  • Accept the PSP mandate & SFS/BaaS Terms and conditions.

  • ​Complete the KYC on Adyen portal.

  • ​Prepare your physical cards' order.

  • Fund your new payments account.

  • Activate your new physical cards.

  • Renew your Subscription cards.

  • Update your Spendesk account's funding details.

2. Fuel your new payments account

You can:

1️⃣ Choose your funding method

  • Do you want to send a transfer from your usual company bank account?

  • Do you want us to fund your account with the funds available on your old Spendesk bank account?

2️⃣ Copy and paste your new Spendesk bank information onto your company's bank account

  • this allows you to fund your new Spendesk payments account smoothly on your next transfer 🎉 For extra security, delete your old Spendesk account's bank details from your company's bank!

✨ Note that we will recommend a minimum amount to load to cover your expenses.

3. Where to find the transition's steps/phases in detail?

4. Transition impact on your bank journal

You will only be impacted if you have set up your accounting integration with file-based exports or Datev and you use the bank journals. You will not be impacted if you use a different accounting integration or if you use the account statements instead of bank journals.

To help you through the transition, we’ve created a helper tool, which can automatically edit your bank journals to get them into the format you want.

5. Review and update your company information

All steps are mentioned here:

6. Who should I reach out to if I have an issue during the transition?

  • regarding document uploads —> After completing your transition/KYC check, please wait for Spendesk compliance teams or Adyen teams to get back to you, you’ll be able to add information / comments when this is the case.

  • regarding contract/billing terms —> your CSM (account manager)

  • regarding an issue with our transition interface —> support@spendesk.com

  • regarding bugs —> support@spendesk.com

  • regarding usability issues —> support@spendesk.com

Feel free to check other Adyen articles on our Help Center collection!

7. How will I be informed of the transition?

An account manager at Spendesk will reach out and/or you will receive an email: ‘Get ready to access your new payment account’ with further information.

8. How can I inform my employees of the transition?

We will provide templates for the Account owners to use if needed 😊.

Requesters that are also Subscription card owners will be notified on Spendesk when they need to change their card details on the merchant’s website (billing details).

9. How long will the Adyen KYC validation take in most cases?

Most cases will take a few minutes, but some might require a few days.

10. Will there be any disruption to UK accounts migrating to Adyen (i.e cards not working for a few days)?

Both accounts will be working simultaneously for a while. If you respect the timelines and fund the account on time there should be no disruption.

11. Can I proceed to the migration with an email address like finance@yourcompanyname.com or should it be nominative?

There are no limitations regarding the AO's email address.

12. Will all the settings associated to Mastercards be the same when the Visa cards are ordered (contactless, cash withdrawal and online payments)?

Yes.

13. Will the expiration date (cards) remain the same as before?

Previously, the expiration date depended on the type of card.

  • Physical cards had a 4 year validity period

  • Subscription cards had a 3 year validity period

  • Single-use cards had a 1 month validity period after the first payment authorization

➡️ With our new banking partner, all types of cards (physical and virtual) will have a 3 years expiration window.

About Adyen

1. What is Adyen?

Adyen is a Dutch financial tech platform with 18+ years of experience serving leading companies such as Spotify, Meta, LinkedIn…It is held to the highest standards in terms of security and compliance.

Adyen’s tech and support teams ensure fast and quality service for Spendesk and its customers as they are in-house. 🎉

We have worked hard on finding the best partner to answer our needs, and are excited about this transition!

You can expect it to happen as soon as Spring - Summer 2024.

2. Which accounts will be transitioned?

For any legal entity in the UK, we will be transitioning the account to a new banking partner (from Bankable to Adyen).

To enable this transition, all customers will have a banner on their Spendesk entity, linking them out to the new Spendesk portal to transition their account.

This is mandatory for all of our UK customers. We will provide clarity on what it means for our customers to transition to an Adyen payments account on Spendesk.

3. Will there be any changes regarding cards or payments?

At first, physical cards created on an Adyen account will be white. They will be replaced later by purple cards.

Adyen’s 3DS system differs from our current system: it will require a password to be set up instead of our usual mobile experience.

4. Will there be any changes regarding outgoing transfers?

It will not be possible to issue outgoing wire transfers by bulk or create recalls at first. Our teams are working on improving this!

5. What innovations are expected when transitioning to an Adyen payments account?

You can expect Google & Apple Pay payments in the future.

Adyen is PCI DSS, SOC1 and SOC2 compliant. It’s also regulated by the Financial Conduct Authority (FCA).

6. What is the list of countries/locations that will be using Adyen services?

United Kingdom (England, Scotland, Wales and Northern Ireland)

7. Will I be able to pay our invoices (& employee expense claims) from Spendesk at the beginning with Adyen?

Yes. Please note that it will not be possible to issue outgoing wire transfers by bulk or create recalls at first. Our teams are working on improving this!

8. How to proceed if I have a question for Adyen?

Contact our support team, we will contact Adyen on your behalf and you can expect a quick answer 😊 (support@spendesk.com).

9. How long does it typically take to delivery physical cards?

The estimated time from making the order to card reception is 4-7 days. The delivery part of the card is done by DHL Express to Europe, the UK and the US.

10. Can I fund my new Spendesk (Adyen) account by Faster payment (FPS)?

Yes. Note that we will no longer be able to fund accounts using BACS or card.

11. Can I fund my new Spendesk (Adyen) account by card?

This funding method is not supported.

About limits

1. What limits are there on cash withdrawal?

  • Single cash withdrawal amount limit: 200

  • Monthly cash withdrawal amount limit: 2k

2. Replacement of non-euro accounts

Due to our transition to new banking systems/partners, we cannot continue to support some Spendesk customers' wallets the way they are working today.

We will open eur/gbp-currency accounts and waive FX fees on these accounts.

3. Will Apple Pay be enabled when switching?

It is on our roadmap 🍊 and needs to be prioritised.

4. Do we know how quickly funds can land in an Adyen account?

Instant with Faster Payments. Adyen's single banking infrastructure enables daily, hourly, immediate or on-demand settlement of processed payments seven days a week.

5. Will I be able to reimburse expenses/invoices in multiple currencies from Spendesk?

This part of our product won't change. You will be able to pay 'from Spendesk' only from the wallet's currency. You will have to pay other currencies from your bank directly.

6. Is there any change regarding invoice schedule?

Controllers will still be able to schedule transfers for a specific date but if the AO confirms them earlier, then they will be executed on the date of confirmation directly.

7. Will cash withdrawal count towards cashback?

Cashback is applied on card spend only.

8. Is there a roadmap to support cross-currency/other countries?

Improving our proposition for customers with payments in different currencies is something we are exploring.

9. What are the fees for cash withdrawal?

0.75% of amount withdrawn (minimum of GBP 1.00).

10. Are there any limits on cards in how much they can spend in 1 transaction and per month?

Single transaction amount limits:

- Physical card - 10k

- Single-use virtual card - 50k

- Recurring virtual card - 50k

Monthly payment amount limit (calendar):

- Physical card - 50k 

- Single-use virtual card - N/A

- Recurring virtual card - 150K

11. Are there any limits on inbound/outbound transfers?

Inbound

300k per transaction
500k per month (cumulative amount)


Outbound
100k per transaction
500k per month (cumulative amount)

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