For merchants
Why would the sender bank not process a transfer?
When will I receive my money and from whom?
In which countries can my customers pay via your interface?
How and when do you charge your fees?
Can OnlineÜberweisen handle also pay-outs?
What would I need to use this service?
What status can a transaction achieve and when can it be recognized as "Paid"?
How many end users do I reach?
How does the „Descriptor“ look like?
Why would the sender bank not process a transfer?
Banks currently still process during office hours, hence neither at weekends, nor labour days or during off hours. In case a transfer is initiated on a Friday night, it will be processed Monday morning. IF the user exceeds his limit by an ATM withdrawal during the weekend, the bank will cancel the open Friday payment. Without telling anyone, btw.
Usually the payer is not aware of this process, hence in case a payment has not been received, you should -first of all- try to clarify with your customer directly.
In any case, don’t take a wire transfer for granted and include also these transactions into your reconciliation process. Alternatively, you can use our automated matching service.
When will I receive my money and from whom?
FinTecSystems is technical service provider, PSD2 calls us a „ Payment Initiation Service Provider“
Via our interface, your customer accesses his private online bank account and initiates the wire transfer directly to your receiving bank account. We are not involved in the flow of funds, therefore there are no rolling reserves, settlement terms or similar.
According to SEPA rules, the money needs to be received by the next working day after the initiation. Thus, usually these are maximum 2 working days, the majority is received within one day.
As technology usually progresses, interfaces and transaction management are improving, we expect less gaps and faster processing in future.
How safe is OnlineÜberweisen?
The FTS solution assures that several criteria are fulfilled by the time of payment initiation
sufficient funds on the bank account for the upcoming transfer?
does the system limit suffice for the upcoming transfer?
Our risk settings provide with a large variety of settings / options.
OnlineÜberweisen is a very safe payment method, but not a guaranteed one
In rare cases, the payment notification informs about a successful initiation, but the sender bank does not process the transfer in the end.
In which countries can my customers pay via your interface?
As of Oct 2018, bank account holders in Germany, Austria and Switzerland (€ & CHF) can pay via our interface.
How and when do you charge your fees?
We invoice for our services on a monthly base. At the beginning of the following month we issue an invoice for the previous one. You’ll be receiving an invoice as PDF per e-mail or to be found in your account.
If you give us permission to debit your bank account, the due amount is automatically charged. As we are not involved in the flow of funds, we cannot balance fees against payments.
Reconciliation Feature
How to integrate?
Simply integrate our API, the related manual is to be found in your account.
Alternatively, you can activate OnlineÜberweisen via one of our Payment Partner (PSP), let us find the right partner for you
What does OnlineÜberweisen cost?
Online money transfers are free of charge for the end customer. onlineüberweisen offer online providers or technical service providers (PSPs) low fees and tailor-made pricing models in various forms. Please contact our customer service.
Can OnlineÜberweisen handle also pay-outs?
As we are a technical service provider, we do not touch the money/funds at all. Remember, the customer’s payments are transferred directly to the defined receiving bank account. Hence a direct functionality for payouts is not supported.
Be aware that the payment notification our system sends out in real-time, does include user name and the used IBAN. Providing a valid data base for handling pay outs.
What would I need to use this service?
To accept bank transfer payments in € currency, you’d need a € bank account in one of the following SEPA countries: DE, AT, CH, NL, BG, CY, EE, LV, MT
For accepting CHF, a CHF account is needed in Switzerland
What status can a transaction achieve and when can it be recognized as "Paid"?
The statuses of a transaction are PENDING, RECEIVED and LOSS. The status of a transaction can only be determined and changed by us if you activate automatic reconciliation for your recipient account.
If automatic account reconciliation is not active, the transaction always remains in PENDING status. It is not possible to set the status manually using the API and/or UI. You can activate the automatic account reconciliation under https://manage.onlineueberweisen.com/merchant/bankaccount . Please note that you need the necessary rights for this setting.
How many end users do I reach?
The total amount of online bank accounts it the before mentioned countries are approx. 60.000.000
How does the „Descriptor“ look like?
Additionally to your descriptor, our system adds a unique ID as further parameter (makes it: „FinTecReference - MerchantReference“) To make it easy for your bookkeeping to match the payments, it is advised to use a unique descriptor yourself. Like this the identification of the payment is best possible.
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