In this article, you'll learn how the payouts of transactions are handled with Finion Pay, what a deposit is and how it works.
What you can learn here:
Payout of the transactions made with Finion Pay
Payout of membership fees collected with SEPA Direct Debit
Adjustments to the payout amount
Payout of the transactions made with Finion Pay
The turnover of all transactions that you process with Finion Pay will be transferred to the payout account specified during the registration process. By default, all transactions available for payout are paid out daily from Monday to Friday*.
Transactions made with Finion Pay are available for payout after two working days (T+2). The following table shows you when you can expect the payout depending on the day on which you made the payment.
After a withdrawal has been sent to your bank account, it can take up to 2 banking days for the money to reach your bank account, even if it usually arrives in the account on the same day.
*: If you would like to reduce or increase the payout frequency, please contact our support team.
A special feature here is the payout delay for SEPA transactions.
Payout of membership fees collected with SEPA Direct Debit
SEPA Direct Debit is considered a high-risk payment method due to the extensive possibilities for chargeback and revocation by members. As SEPA direct debits are collected by Adyen via Finion Pay, Adyen bears the risk of payment default. To prevent this risk, payments with SEPA direct debits via Magicline Payments are paid out as follows:
Monitoring phase
When you start processing your SEPA payments via Finion Pay, you start in the monitoring phase. In this phase, your membership fees that you collect via SEPA will be made available for payment after 5 working days. This period makes it possible to monitor the rate of returned direct debits and, if necessary, take measures to reduce the risk of default.
Stability phase
You leave the monitoring phase as soon as you have processed a total of more than €10,000 via SEPA Direct Debit via Finion Pay and have used SEPA Direct Debit via Finion Pay for at least 30 days. After leaving the monitoring phase, your membership fees collected via SEPA Direct Debit will be ready for payment after 2 working days.
Adyen and Magicline reserve the right to increase future payout delays if the chargeback rate rises above 10%. To counteract this, it is strongly recommended that you set up your dunning system accordingly and carry out regular dunning runs. You can find more information on this in the following articles:
Configuration of dunning rules
Exclude members from dunning runs
Adjustments to the payout amount
Fees, Refunds, chargebacks from your members, chargeback reversals, and a security deposit are discounted from your payable amount. Changing the volume of money being transferred to you:
Transaction fees and payment method fees
The fees according to the price list are automatically deducted from the transaction volume. In the case of PayPal payments, you will receive the entire transaction amount in your PayPal Account and not with the Adyen payout. Transaction fees for all PayPal payments are deduced from the first payout of the following month.
The same applies for 3D Secure Authentication fees.
Refunds
Typically the money that you refund to your member has already been paid out in an earlier transfer. The refund amount is deducted from our payable amount, resulting in a smaller overall payout.
Chargebacks and chargeback reversals
If your member files a chargeback at their bank, the transaction amount is transferred back to the member's bank account, resulting in a decrease of your payout amount by the transaction amount and the chargeback cost. If the chargeback was billed using a Magicline payment run, the chargeback amount and the chargeback fee are automatically booked into the members' account in Magicline.
A chargeback from a credit card can be defended by providing proof of the correctness of the charge, like a membership contract. This can be done in an Adyen customer portal that can be provided by Magicline. Please reach out to customer support to request access for access.
If a chargeback defense is won, you will receive a chargeback reversal, which will increase the payout by the amount of the chargeback and the chargeback fee.
Please note: A chargeback from a SEPA transaction cannot be defended, hence you must rely on internal dunning and debt processes.
Bank holidays
Your payout may be delayed due to bank holidays. This can occur when a bank holiday falls on the day of capture, the payout day, or any time in between. Keep in mind that your payouts are based on the settlement timelines of the card schemes and payment methods you utilize.