How does bank transfer payment work?

Depending on your business model, providing your clients with the possibility to pay/invest through bank transfer might be pretty useful.

Bank Transfers do indeed not bear any amount limit (credit limits on cards/useful when your average basket/transaction amount is high - crowdFunding or arts/luxury marketplace for example), and are a good way for you to avoid the risk of card ChargeBacks.

Once bank transfer (Money-In) is activated, we provide you with an IBAN (shared with all our other partners), as well as a matching code (in general the name of your platform followed by the external ID of the beneficiary payment account/ENVIRONMENTNAME-EXTID), that you’ll have to display on your website/App during the payment process, and that we’ll use to credit the bank transfer onto the right payment account.

When preparing their transfer requests on the website/App of their banks, your clients will have to capture the below info (we recommend you also clearly indicate this on your website/App during the payment process):
• Beneficiary Name: Lemon Way

• Beneficiary IBAN: the IBAN we’ve provided you with (see above)
• Beneficiary Bank BIC Code (if requested): the BIC Code we’ve provided you with (see above)
• Description: the matching code we’ve provided you with (see above)/max 35 characters
• Beneficiary Address (if requested): 14, rue de la Beaune, 93100 Montreuil, FRANCE

The reception of a bank transfer and its crediting on the beneficiary payment account translate into the automatic creation in your Enterprise environment of a transaction in the Success status (Type = Incoming / Method = Bank transfer/Status = Success), as well as the perception of the corresponding Lemon Way commissions.

The most frequent cases for delay/issue in the crediting of an incoming bank transfer are listed below:
• Beneficiary payment account in a KYC status (ex: KYC1/max amount exceeded) which does not allow the crediting

• Beneficiary payment account which cannot be found/does not exist in your Enterprise environment
• Name of your Enterprise environment mentioned in the bank transfer description but not beneficiary payment account-related external ID
• Name of your Enterprise environment not mentioned in the bank transfer description, which does not allow Lemon Way to associate it with you

In all the above cases (except for the last one/we return the bank transfer back to the issuer two months after it is received if no info/contact from you), we provide you with a weekly email with the list of all received but unmatched bank transfers for your environment, as well as the actions/decisions to be taken on your side for us to properly credit the funds.

If bank transfer is not yet included in your contract and if you want to activate it, don’t hesitate to contact us (Submit a New Request button located in the Header of the Lemon Way Support Center), and specify your projected volumes as well as estimated average transaction amounts, so that one of our Fantastic Business Developers can get back to you with a pricing proposal.

Depending on your volumes/the part of incoming bank transfers in your payment instruments’ mix, you might want to subscribe to our dedicated bank account offer (i.e. that is not shared with any other Lemon Way partner), so as to simplify the reconciliation process and in order to optimise crediting delays/maximize credited amounts - more info here.

For more information on incoming bank transfer matching rules, please take a look at the corresponding topic of Lemon Way Support Center.

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