General information Adyen (balance account)
When you start using Spend Cloud Cards, you will have a balance account with Adyen. To open a balance account, you can navigate through Spend Cloud (Application Management / Cash & Cards / Balance Accounts). Additionally, you transfer funds to this account. In Spend Cloud, you define the limits, ensuring that you cannot spend more than the balance in the account.
It's important to note that when using Spend Cloud Cards, the balance account with Adyen is managed by Visma | ProActive. You won't receive separate login credentials for this Adyen account. Relevant information from the payment platform is directly integrated into Spend Cloud. It's worth mentioning that Adyen is not a bank. To know more about the security of your funds, refer to the Adyen website.
Transferring Funds to the Adyen Account
When making transfers to an IBAN, you'll often encounter a check between the entered payee name and the IBAN. This IBAN Name Check is a collaboration among certain banks. Adyen is not part of this collaboration, so you might receive a notification that the name doesn't match the Adyen IBAN. Read the following article for more information about making transfers. You can only transfer funds from the specified IBAN number for the balance account.
At the moment, it's not possible to receive payments through Spend Cloud Cards.
Transaction Costs
Unlike bunq, Adyen doesn't charge transaction costs. However, this is separate from any transaction costs that the vendor might charge.
Blocked MCC Codes
Each supplier that accepts electronic or card payments is classified into a supplier category. This category is associated with a four-digit code, known in English as the Merchant Category Code (MCC). This code is recorded with every transaction. Adyen, as a payment platform, excludes certain MCC codes for online and physical payments due to their higher risk. Below is a brief explanation of the risks involved:
High chargeback rates
Some sectors naturally have a higher risk of chargebacks. This often happens when customers are dissatisfied, suspect fraud, or dispute a payment.
Fraud risk
Certain sectors are more frequently used for fraudulent transactions, such as money laundering or identity fraud.
Political or moral concerns
Some transactions may involve ethical or political sensitivities, leading financial institutions to exercise extra caution.
There is a small chance that a supplier has categorized itself incorrectly, which may result in the supplier being mistakenly classified under a blocked MCC code, preventing payment. If you suspect this, we recommend contacting the supplier/location where you are trying to make a payment.
Restrictions on specific MCC codes are set by Adyen through so-called capabilities. It is possible for an organization to be classified into a higher capability category, allowing for more flexibility with certain MCC codes. If your organization wishes to move to a higher capability, please contact support. Discuss this internally beforehand. A higher eligibility classification also comes with increased risks, such as a greater potential for fraud (e.g., with gift cards) or spending in undesired industries (e.g., gambling). Additionally, note that this change will trigger a KYC (Know Your Customer) check by Adyen. Furthermore, Adyen will conduct more frequent KYC checks on your organization compared to standard eligibility.
For some MCC codes, payments are allowed but with a maximum limit per transaction.
Allowed with high capabilities | ||||
4814 | Providers of long distance telecommunication and prepaid phone services | No | Yes | |
5967 | Inbound teleservice merchant, Audio(text) and video(text) services to receive information about sports results, horoscopes etc. | No | ||
6050 | Financial institutes - Quasi money exchanges such as travel cheques and foreign currency. Can also be used for taking loans. | No | ||
6051 | Quasi cash: Trader | No | ||
Yes | ||||
Yes | ||||
Blocked Countries
Certain countries are considered too risky for payments. These blocked countries also apply to online shops. Below is a list of the currently blocked countries on the Adyen side:
Afghanistan
Cuba
Iran
North Korea
Myanmar
South Sudan
Syria
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