Frequently asked questions

How it works

When do I receive payments?

We automatically pay out funds to your specified bank account once every week.

What types of payments can I collect?

You can collect one-off, regular or variable SEPA Direct Debit payments with our simple online dashboard or the API.

How does the payment process work?
Using our online dashboard you can issue a request for authorisation to take SEPA Direct Debit payments from a customer in a few clicks.
  • We email your customer a link to our payment authorisation page. To authorise they click the link, complete our secure checkout and sign an electronic mandate.
  • Once authorised, you can take payments from your customers automatically by adding them to a payment plan.
  • We will notify your customers every time a new payment is taken.

 

How does my customer authorise a payment?

Your customers authorize a payment by signing a SEPA Direct Debit mandate. This document allows your company to take money from their bank account, or authorizes Finstack to take money on your behalf if you do not have your own SEPA Creditor Identifier.

There are two ways to obtain this authorization from your customers:

  • you can trigger a request from Finstack dashboard "mandates" section, by adding a new customer,
  • or by associating them to a payment (adding your customer to a payment plan, sending a payment request, or if the client clicks on a button on a payment page, etc.). If the customer has not previously authorized any transaction in your favor, they will be required to do so before we execute any payment from their bank account. 

To sign a mandate, your customer just needs to enter their details and copy a unique password they receive by sms on our secure online payment page.

Can customers sign up on my website?

Yes. You can either do this by integrating with our API or by generating a link for a payment plan and embedding this as a button on your website.

On clicking the button the customer will be sent to our secure online payment page where they can authorise the payment(s).

Can I set payments to start & end on a specific date?

Yes. You can easily customise the day, date, frequency and duration of payments.

Can I change a payment once it has been created?

Provided your payment hasn't been submitted to the banks yet, you can easily cancel an existing payment or remove your customer from the plan and add them to a new one.

All this can be done from within your dashboard in seconds.

How do I know if I've been paid?

Our online dashboard gives you real-time information on all your payments and customers, allowing you to check the status of a payment at any time.

Will you ever place limits on my account?

There are certain situations where it may be necessary to place restrictions on your account:

  • Where we believe that there may be a breach in the security of your account details;
  • Where we suspect the unauthorised or fraudulent use of your account;
  • Where we are required to by law.

If we ever do have to do this, rest assured we will notify you as soon as possible and make sure that there is always someone you can talk to to help resolve the situation as quickly as possible.