Finance

To fund your account please follow these steps:

1. Login into your MultiSafepay Control
2. Use the navigation on the left and select Home -> Fund account
3. Select the currency in which you would like to fund your account
4. Enter the amount you would like to deposit
5. Press the blue button Fund your account .

You will be directed to a MultiSafepay Payment page where you can choose a payment method to fund your account.

You can perform a refund by following a few simple steps:

1. Login into your MultiSafepay Control account
2. In the Dashboard, navigate to Transactions -> Transaction overview
3. Select the Completed transaction you wish to refund
4. Check out the detailed description of the payment under Order summary
5. You can now click on Refund order to initiate the refund.

Should you have any further questions about refunding or about transactions in general, do not hesitate to contact our Support team at [email protected]

In order to be able to import an accountant export from your MultiSafepay Control into your Exact Globe account, you will need to provide an additional international bank account number (IBAN). However, bear in mind that this is just for Exact to be able to process this kind of operation and the account number can therefore be a “dummy” account.

How to “create” a dummy IBAN

1. Go to https://www.ibancalculator.com/bic_und_iban.html
2. Navigate to the Calculate an IBAN field
3. Select the Netherlands as country
4. Choose any option for a bank (e.g. ING Bank)
5. Fill in any 7 digits in the Account number field
6. Click on calculate IBAN
7. A bank account number (IBAN) and BIC will be generated

How do I process the bank account number in my Exact Globe platform?

1. Go to bank accounts in your Exact Globe platform
2. Click new
3. Select payment service provider as type
4. Enter the full international bank account number
5. Synchronize by selecting the ING bank
6. Click save

You have created a bank account. All transactions linked to this bank account number can now be registered.

Exact Globe and Exact Online can both perfectly import and match our MT940 report if:

• your accounting package supports the processing of MT940 files (bank statements).
• the order numbering that appears in the exported accountant files (eg 200160526), also appears in the correct invoice fields in your accounting platform.
• the customer’s name and the order amounts that appear in the exported accountant files correspond to those in your accounting platform,

Lightspeed users must require Lightspeed to perform an adjustment to make sure the order number appears in the correct field in Exact Globe for it to be matched with our MT940.

In order to be able to import an accountant export from your MultiSafepay Control into your Exact Online account, you will need to provide an additional international bank account number (IBAN). However, bear in mind that this is just for Exact to be able to process this kind of operation and the account number can therefore be a “dummy” account.

How to “create” a dummy IBAN

1. Go to https://www.ibancalculator.com/bic_und_iban.html
2. Navigate to the Calculate an IBAN field
3. Select the Netherlands as country
4. Choose any option for a bank (e.g. ING Bank)
5. Fill in any 7 digits in the Account number field
6. Click on calculate IBAN
7. A bank account number (IBAN) and BIC will be generated

How do I process the bank account number in my Exact Online platform?

1. Go to bank accounts in your Exact Online platform
2. Click new
3. Select payment service provider as type
4. Enter the full international bank account number
5. Synchronize by selecting the ING bank
6. Click save

You have created a bank account. All transactions linked to this bank account number can now be registered.

Exact Online and Exact Globe can both perfectly import and match our MT940 report if:

• your accounting package supports the processing of MT940 files (bank statements).
• the order numbering that appears in the exported accountant files (eg 200160526), also appears in the correct invoice fields in your accounting platform.
• the customer’s name and the order amounts that appear in the exported accountant files correspond to those in your accounting platform,

Exact Basic / Standard package does not support the MT940 import function, at least Exact Advanced version is required to import an MT940 report.

Lightspeed users must require Lightspeed to perform an adjustment to make sure the order number appears in the correct field in Exact for it to be matched with our MT940.

In order to generate a MT940 report within your MultiSafepay Control, please follow these steps:

1. Login into your MultiSafepay Control account
2. Go to Reports and select Accountant export
3. Fill in the date selection
4. Change the report type to an MT940 report
5. Generate report.

In the MT940 report, all incoming and outgoing completed transactions are displayed in the specified period in which you generate the report. Therefore, you will have an insight into every processed and completed transaction, as well as their associated costs.

Refunding more than the stated amount of the original transaction is now possible for certain payment methods and can be activated in MultiSafepay Control. This can be useful, for example, for merchants willing to cover the costs incurred by a customer when sending an order back by post.

This only applies to payments originally received with a debit payment method. Credit cards and post-payment methods do not apply.

Please note that refunding amounts larger than the initial order value needs to be approved by the Risk Team that will also set a maximum limit. Once approved, the Risk Team will enable the allow more than original function in your MultiSafepay Control app, from where you can now activate it.

The application must be submitted through your account manager, that you can contact at [email protected]

Why is MultiSafepay charging VAT?

Since 2016, MultiSafepay has expanded its payment services by including so-called acquiring services for some payment methods. This means that for payment methods such as Bancontact, MultiSafepay can offer end-to-end payment processing and reporting services, which contributes to increased availability and reliability. As a result, we were required to start charging VAT as per 1st of January 2017.

If MultiSafepay can include your local VAT registration number in its monthly invoice, standard Dutch VAT of 21% can be shifted and will therefore not be charged to you.

How is the VAT charged?

The VAT is calculated based on all MultiSafepay fees: transaction fees, bank fees, and withdrawal and refund rates. As always, the transaction fees are charged as the transaction is processed. The bank rates and VAT will be charged in your account at the beginning of each month.

When are the VAT charges settled in my account?

The VAT is automatically deducted from your account balance at the end of the month. You can look up exact amounts by using ‘VAT’ or ‘Invoice’ as a search query in your transaction overview. You will receive your invoice by email. Additionally, all VAT invoices will be added to your account. The invoice is for administrative purposes only. You do not need to settle the amount separately.

Where can I find the VAT invoice?

You can find your monthly VAT invoice in MultiSafepay Control. Login to your account and navigate to Finance -> Invoices.

The VAT invoice is also sent to the email address listed under Financial email in your MultiSafepay Control. If you have not added an email address under Financial email, your invoices will be sent to the main email address, as listed in your account.

You can add a financial email address by selecting Contact Information in your account and adding your preferred email addresses.

Why do I pay VAT for certain payment methods and not for others?

It is the responsibility of the collecting party to charge VAT and, for most payment methods, MultiSafepay is tasked with this job. However, for some of them (e.g. PayPal) we are not the collecting party, meaning that for these transactions VAT will be applied via the scheme. Otherwise, double taxation would happen. The total count of transactions for which is someone else’s responsibility to apply VAT on, will be shown on your invoice with no VAT amount.

Is reverse-charging VAT possible?

Reverse-charging VAT is possible for merchants who use our services, but are not registered as a Dutch company.

For this feature to be enabled, it is important that your VAT number is registered with MultiSafepay. You cannot reverse-charge VAT if your VAT number is unknown to MultiSafepay.

To register your VAT number, please send us an email at [email protected]

What are the actual costs to be paid when I have IC ++ tariffs?

There are three cost components of the IC++ model, namely the Interchange fee that is paid to the issuing bank, the scheme fee charged by Visa or Mastercard and the acquirer fee. The costs associated with IC++ depend heavily on a range of factors, such as the countries of the merchant, the issuing bank and the cardholder, the merchant segment, the monthly transaction volume, etc.

Upon signing up with MultiSafepay, you should be presented with an estimation of these costs.

Why are refunds stated twice on my invoice?

It can happen that refunds are stated twice on your invoice. One entry is concerned with the payment methods we are the collecting part for, whereas the other is for those that do not fall under our responsibility and whose VAT will be charged by another party.

How is the counting of transaction fees created?

The total of transaction fees is the the count of all processed and completed transactions in a given period times the (universal) transaction fee agreed upon when signing up with MultiSafepay.

Which exchange rate do you use on the invoice and where to find it?

We always use our bank’s exchange rate from the previous day (closing). The exchange rate is not displayed on the invoice, but it is easy to calculate it by dividing the EUR amount to the foreign currency amount (or the other way around depending on what your target currency is).

You will be able to pay out funds to your business bank account anytime, as soon as your MultiSafepay Control account has been fully activated. Of course, payouts cannot be carried out if the balance of your account is negative (in case of refunds, chargebacks or fees) or if this feature is deactived by the Risk Team for any reason.

There are two ways for merchants to withdraw funds, either automatically or manually.

Automatic withdrawals

To carry out an automatic withdrawal, please follow these steps:

1. Login into your MultiSafepay Control
2. Select Finance -> Balance
3. Select the bank account number on which you wish to receive the amount (IBAN)
4. Schedule payments.

The payout scheduler allows you to:

• Schedule automatic withdrawals on preferred day(s) of the week
• Schedule a payment only when a certain amount is exceeded (preferred amount)
• Reserve an amount (e.g. for a refund).

Manual withdrawals

To carry out a manual withdrawal, please follow these steps:

1. Login into your MultiSafepay Control
2. Select Finance -> Balance
3. Select an amount, the currency and the the bank account number on which you wish to receive the amount (IBAN).

How long do payouts take?

Of course, you may wonder how long it takes for a payout to be completed and whether there are differences between manual and automatic withdrawals. The duration of different payouts depends on several factors. The withdrawal delay is decided by our Risk Team depending on the Risk appetite. The default withdrawal delay is 1 day.

Automatic withdrawal : Assuming default settings, when merchant selects a payout on Monday, the payout batch will include all the payments until 23:59 am of the selected date. The payout batch will be sent to our bank on Tuesday morning. Our bank will process the batch and transfer the amount to the merchant’s business bank account. The merchant may receive the payout on Tuesday afternoon.

Manual withdrawal : In case of a manual transaction, the withdrawal will have the status Reserved for 24 hours before it is added to our bank’s payout batch. Once added to the payout batch (this happens in the morning), the payout is transferred to the merchant’s bank. A manual payout usually takes longer to process than an automatic withdrawal.

Important information and exceptions

• Withdrawing funds costs 0.50 EUR per withdrawal
• Please keep in mind that the payout process can take up to three business days before it arrives on the bank account number of the merchant
• If you would prefer your funds to be paid out to a different bank account than the one activated in MultiSafepay Control, you will first need to add it under Business documents
• Not all banks have instant payments and as a result, payment processing can take up extra time on the banks’ side
• During certain (bank) holidays, banks do not process outgoing payments. For example only, check out this Deutsche Bank schedule for the Netherlands
• Please keep in mind that if the balance on your MultiSafepay Control is negative due to, for example a refund, the payout is paused until an appropriate amount is available on the balance. Be advised to always set a “reserved balance” in the payout settings to prevent payout and/or refund delays
• The default payout delay is 1 day, however individual merchants might have a longer delay as mandated by the the Risk Team based on their risk estimation
• Payment batches are not processed during the weekend (i.e. payouts initiated on Friday will be processed on Monday morning).