General information Adyen (balance account)
When you use the Spend Cloud Cards, a balance account is opened with Adyen. This account is managed by Spend Cloud's financial administration via Application Management / Cash & Card / Balance Accounts. Here, you can transfer the desired amount and set the card limits within Spend Cloud. It is important to know that it is not possible to spend more than the available balance in this account.
For the use of the Spend Cloud Cards, Adyen imposes the following additional conditions, for which the Customer is fully responsible:
- Every cardholder is employed by the Customer;
- The balance in the Adyen Balance account is explicitly the property of the Customer;
- The funds originate from business financial flows;
- All transactions carried out via the Spend Cloud Cards are business expenses of the Customer.
Deviation from these conditions is only possible with prior written consent from Adyen, in which case Adyen may impose additional conditions. The general terms and conditions of Adyen can be found in the attachment to this DIRK article.
Please note: the balance account is offered by Adyen N.V., an authorised payment institution that holds a European banking license and is supervised by the Dutch Central Bank (DNB) and the European Central Bank (ECB). As part of European banking regulations, Adyen must comply with requirements for business operations, capital, and liquidity. These rules are established to ensure that customer funds are safe.
Spend Cloud is not a bank and does not present itself as a bank or bank service provider. Spend Cloud functions solely as a platform that facilitates business payments in collaboration with Adyen.
The balance account with Adyen is formally managed by Visma | ProActive. Therefore, you will not receive your own Adyen login details; all relevant information is directly translated into Spend Cloud. If you would like to know more about how Adyen safeguards the security of financial flows, please visit Adyen's 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. Want to know more about Adyen’s prohibited and restricted products and services? Read more here.
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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