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
Every vendor receiving electronic or card payments is categorized with a four-digit code called a Merchant Category Code (MCC). This code is also recorded for every transaction. Adyen, as a payment platform, excludes certain MCC codes for online and fysical payments due to higher risks. For some MCC codes, you can still pay, but with a maximum per transaction.
There's a small chance that a vendor has categorized themselves incorrectly, causing them to fall under a blocked MCC code, preventing you from making payments. Here's a list of MCC codes for vendors with increased risk:
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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