Frequently asked questions

Overview

How can I use Finstack?

There are two ways to use Finstack:

  • Our dashboard- Set up and manage SEPA Direct Debit payments with your customers using our simple online dashboard.
  • Our API- Integrate Finstack into your website using our REST API or webhooks for realtime notifications.
Who is Finstack for?

Finstack is for startups, SMEs, large corporation or sole traders looking to take payments directly from the bank account of customers in the Eurozone.

It's particularly suited for B2B (business-to-business) and recurring payments.

Our easy-to-use dashboard and powerful API make Finstack a powerful solution for any business size.

When is Finstack less relevant?

Finstack is great for many use cases. However, there are some limitations with our service. We aren't able to:

Let you take credit card payments - however you can use another payment provider alongside Finstack.

Let you accept instant payments - Direct Debit payments take 3-5 working days to clear, so they're not ideal for goods that need to be shipped quickly.

Can I use Finstack for B2B and B2C transactions?

Yes. Finstack can process payments under the Core Scheme (B2C and B2B transactions) and the B2B scheme (exclusively for transactions between companies, provided that a specific mandate has been signed and duly transmitted to its bank by the paying company). 

Which countries can I take Sepa Direct Debits from?

Here is the list of the 21 Euro-countries you can take Sepa Direct Debits from with Finstack:

  1. Austria
  2. Belgium
  3. Cyprus
  4. Estonia
  5. Finland
  6. France
  7. Germany
  8. Greece
  9. Ireland
  10. Italy
  11. Latvia
  12. Lithuania
  13. Luxembourg
  14. Malta
  15. Monaco
  16. Netherlands
  17. Portugal
  18. Slovakia
  19. San Marino
  20. Slovenia
  21. Spain

This list is on-going and we will soon add new non-Euro countries to the list of countries you can take payments from with Finstack.

Are there any limits on the amount I can collect?

There are no limits on how many transactions you can take with Finstack.

The minimum amount for a single transaction is 1€ and the maximum amount is 10,000€. We may be able to increase this limit with additional verification checks.

How do I receive funds I have collected?

The funds collected are paid directly into your bank account every week.

Finstack fees are deducted automatically, and you will receive an invoice with a detailed description of your fees and transactions every month.

We hold a % of your funds in reserve for 8 weeks in order to cover the chargeback risks. This % is calculated by multiplying your average chargeback rate by 2 (minimum Rolling Reserve rate during the 8 first weeks working with Finstack: 5%).

For instance, if you have an average chargeback rate of 2%, your rolling reserve rate will be 4%.

This means that every week, we will make a payout on your bank account of 96% of the transactions you made the previous week, plus 4% of the transactions you made 8 weeks ago, minus the chargebacks occured.

Do you take credit or debit cards?

No, Finstack is a SEPA Direct Debit company.

Is Finstack regulatory approved?

Yes. Finstack Solutions SAS is registered as Mandataire Exclusif en Opérations de Banque et en Services de Paiement (MOSPL) at ORIAS under n° 15004403, and authorised for the provision of payment services through the European Union.

Why is Finstack the best option for my business?

Below are just some of the reasons why people choose us:

Reduced administration - Collect recurring and one-off payments automatically, or at the click of a button. We manage everything else for you.

Simple, low pricing - We charge 1% per transaction, and never more than 3€. Scale pricing is available.

Powerful tools that suit you - Everything you need to set up, collect and manage SEPA Direct Debit payments with our simple online tool or REST API.