Processing bank transfer transactions
For the delivery and processing of orders potentially resulting in bank transfers, our platform is used. We will issue a unique payment reference for each specific transaction as part of its bank transfer service. Because of the characteristics of bank transfers it is of vital importance that the transfer is identified by the consumer with this unique reference number. Without the reference number the automated process to match the payment may not work and there could be a delay in the process.
Please note that we may adjust the payment instructions without prior notification therefore it is important to display the bank account details retrieved from the response .
Electronic and/or other forms of payment reports from banks within our network are gathered daily at 09:00 CET. These reports usually contain transactions received by us during the previous 24 hours. Payments cleared to an account after the cut-off time will be part of the statement retrieved the following day. The processing of these payments takes place on the day of the payment information retrieval before 16:00 CET.
Bank transfer payments are matched on the basis of the consumers providing the complete payment reference numbers to identify their payments. Bank transfers that can’t be matched to our reference number may delay the reconciliation process or result in an unmatched payment.
As much as possible, we will process payments automatically. Payments will be matched even if the order had previously been matched to another payment or if the amount of the payment is different from the order amount.
However, certain basic checks are built into this automated process to avoid obvious mistakes. These checks include:
- Currency of the payment corresponds with currency of the order
- Difference between the order amount and the payment amount is more than 100,000
- A range of technical checks identifying whether country, currency, exchange rate, and account are configured in the system
We may add other criteria for automatic matching, for example if consumers often add other information to their payments in addition to our reference number. This may happen, if you do no optimize your payment instructions.
If the payment fails to pass the checks, it will be passed on to a manual matching process. With manual matching, the individual payments that dropped out of the automated matching process are combined with the bank report processing (also processed manually).
If required, we will translate the information on bank reports to be able to match a payment to an open order.
If our reference number is received but is incomplete, we can sometimes still match the payment, but this can only happen if the payment amount and currency exactly match the order.
If our reference number is not received at all, we will attempt to match the payment on the basis of secondary criteria, for example, data generated by yourself.
Payments will only be matched manually on the basis of the following:
- Complete or partial Surname (last name)
- Complete or partial Company name
- Complete Consumer reference
- Complete Invoice number
Manual matching on above criteria is done only if the payment amount and currency correspond with the order. This limitation does not apply for matching payments to orders that have been received without a payment amount. If there are two or more possible matches, the payment will not be matched.
As the extent to which our partial reference number or a partial surname/ company name is considered sufficient enough to match a payment has not been defined. As a result, there is an element of subjective interpretation in the matching process.
Although payments received on an account in a country but originating from another country will normally be processed as cross-border payments, automatic matching may result in these payments being treated as domestic payments. To the extent in which this can be identified, the costs for receiving certain payments that are subtracted from the amount paid by the consumer will be incurred by us (meaning that we will report and settle the gross amount).
Single payments for a combination of orders will be matched to the original orders as much as possible. If this is not possible (for example, if the payment has been matched automatically), the payment will be matched to a single order resulting in an overpayment for that particular order. You may request to have those payments unlinked, broken-up and matched to two or more individual orders by sending in a request to our Payment Services department. These requests will be logged and treated as Payment Inquiries. This will also result in incurring charges as if the payments had been made individually.
If a payment cannot be matched on any of the above criteria, we will await a payment inquiry from you for a period of 12 full calendar months after receipt of the payment. After this period, the information will be available offline.
In case a payment has mistakenly been matched to a specific record, a correction will be made and reported to you.
Occasionally, payments are cancelled by the bank shortly after being reported. In these cases, the payments are then reported as reversal.
Payment Inquiries, such as inquiries for individual transactions that may have been received by us but that were not yet reported will only be handled on the basis of a fully completed online “Payment Inquiry”, which can be generated through the Payment Console.
Payment Inquiries received before 12:00 CET will be logged, processed and responded to on the same business day. Inquiries received after 12:00 CET will be handled the next business day.
If necessary, a proof of payment will be requested from you. The proof can be attached as a scan along with the email. As proof of payment we will accept:
- Copy of a bank statement of the consumer
Both should contain at least the following items:
- Currency and amount
- Beneficiary name
- Account number of beneficiary
If the payment can be identified on the basis of the information in the payment inquiry, it will be matched and reported as usual. The response to the payment inquiry contains the reason why the payment could not be matched without the information provided by you. In the event you provide a valid proof of payment but we have not received and/or cannot identify the payment, it will process and report the payment as normal.
You should provide contact details in the communications with consumers so that inquiries will be directly addressed to you without interference from us. In the case that we receive inquiries by email from consumers, these will be logged, and sent to you as per the contact details provided to us.
Reversals on Cheque payments
In some countries the banking system allows consumers to use a cheque as a funding method to complete a bank transfer. Unlike other funding methods used for bank transfers, a cheque payment can be reversed in some instances. Therefore, please bear in mind that a reversal risk is applicable to these transactions.
Bank Transfers in China
For merchants who are classified as Education Worldline is able to offer a customized set-up to accept bank transfers in China in CNY. Please get in touch with your account manager to get enabled.
Bank Transfers are offered in a Full Service model. This means that we take care of the collection and reporting of the funds. Status changes that affect the financial position (like refunds and payments) will be reported in our standard reports, as described in the reporting section.
Refunds on this payment product are made via Bank Transfer (Payment Product ID depends on the country of the original payment) and can be processed in two ways:
- Submitting a refund action on the order via API
- Pushing the refund button on the Payment Console
Please be aware that the total value of the refunds submitted on the order may not exceed the total amount paid on the payment. The maximum timeline for processing a refund is 180 days.