Withdrawing funds from a payment account

Withdrawing funds from a payment account

👉   Documents needed to withdraw funds from a payment account

👉   Add bank details to a payment account

👉   Initiate a request for an outgoing transfer

👉   How long it usually takes to receive an outgoing bank transfer

👉   Cancel an outgoing transfer

 

Documents needed to withdraw funds from a payment account

In order to be able to request an outgoing transfer, Lemonway needs:

  • a banking statement or a bank certificate with the account's holder's name must be provided
  • banking details typed manually in your dashboard

Banking details will only be activated after verification by our KYC experts:

  • Match between the account number entered in the payment account and the one indicated in the bank statement downloaded in the Documents section
  • Match between the holder of the payment account as indicated in your dashboard and the one mentioned in the bank statement

Several bank details (following previous conditions) can be active simultaneously on the same payment account.

Note

Only Lemonway can add or modify banking information on your merchant account (SC). In case you would like to add new bank details, 👉 contact us with your banking information document.

 

Add bank details to a payment account

Adding bank details to a payment account allows you to withdraw available funds with an outgoing transfer to a bank account.

  1. From the Dashboard, click Accounts
  2. Search for the account ID in the first column.
  3. Click the ID number.
  4. Click the 5th tab, Bank accounts.
  5. Click Add a bank account.
  6. Fill in all the fields.
  7. Click Add.

Note

The banking information entered will be validated once the related bank statement has been uploaded (in the name of the payment account holder).

 

Initiate a request for an outgoing transfer

If you would like to add specific text in outgoing transfers issued by Lemonway to your beneficiaries, please get in touch with us.

Outgoing transfer requests are only allowed in the environment's currency.

  1. From the Dashboard, click Accounts
  2. Search for the account ID in the first column.
  3. Click the ID number.
  4. Click the 5th tab, Bank accounts.
  5. Click Do a wire transfer
  6. Select the receiving bank account
  7. Enter the total or partial amount to be refunded, then enter your password for confirmation.
  8. Click Send.

How long it usually takes to receive an outgoing bank transfer

SEPA Bank Transfers (issued in EUR and inside the SEPA zone - 34 countries) are usually received by the beneficiary within 1 to 2 banking business days after the Lemonway transaction date.

Bank transfers in foreign currencies or in EUR but outside of the SEPA zone are usually received by the beneficiary within 2 to 4 banking business days after the Lemonway transaction date.

 

Cancel an outgoing transfer

An outgoing bank transfer can only be cancelled before it is actually processed by Lemonway on the banking system. For your information, Lemonway processes outgoing bank transfers at 10:30 am every working day. The cancel button will no longer appear if the transaction has already been processed by Lemonway.

Lemonway can also perform what we call a “recall” if the wire has already been sent, but with no guarantee of success. We will ask the beneficiary bank to send back the wire.

  1. From the Dashboard, click Operations. A menu unfolds.
  2. Click In/Out.
  3. Look for the outgoing transaction with a Pending status.
  4. Click its ID number.
  5. On the Operation details page, click Cancel operation.
  6. Enter your password.

Click Confirm.

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