Receiving weekly payments

MultiCards keeps records of charges on weekly online statements. You can access the statements in your Merchant Menu. The current or running statement is updated instantly with every accepted order . A statement week starts and ends on Sunday around 23.00 CET.

Rollover reserve 

A security deposit of 10-15% (depending on your type of business) of every transaction is held in escrow for 6 months and then added to your account balance. These funds are held by our banks to indemnify MultiCards from chargebacks and claims lodged against your account due to merchants going out of business, bankruptcy, fraud charges and claims for non-delivered goods, warranties and or pre-paid yearly fees.

If you close your account, the Rollover reserve will be refunded 180 days after termination date or after the last chargeback or credit on your account. The termination date is officially the 1st of the next consecutive month in which the account has been terminated.
I.e. If you request account termination on December 13, the 180 day period will start on January 1.

Payment terms

Payments will be initiated 21 days after CLOSURE of the weekly statement wherein the account balance has reached USD/EUR/GBP 1,000 or more.

It is possible to receive a bank transfer on a regular weekly basis, if:

  • You have regular weekly sales above USD/EUR/GBP 1,000;
  • You have sent in a signed copy of your MultiCards profile and your profile is fully complete;
  • Your chargeback ratio is below 1% or your credit ratio is below 5%;
  • Your business type doesn't require special security measures (such as Travel, Gaming, Dating and other high risk business models).

MultiCards reserves the right to put merchants on a payment schedule if sales are irregular or do not exceed USD/EUR/GBP 1,000 per week.
MultiCards also reserves the right to put payments on hold if the sales volume on an account stops without prior notice given to MultiCards by the merchant. 

Bank transfer costs

Currency Destination Fee
Euro within the EU region free
Euro outside the EU region € 20
US Dollar any $ 25
UK Pound any £ 15

Payment not received?

There are several reasons why a payment is delayed. Please verify the following issues before you contact our Payments Department:

  • You are located in the EEC and your bank number is not in the IBAN format;
  • Your chargeback ratio is above 1% or your credit ratio is above 10% for the last processing month;
  • There are too many fluctuations in your sales to have regular payments;
  • There is a bank routing delay between your and our bank;
  • The Beneficiary Name in the profile is different from the Legal Name;
  • Your business type requires special security measures (such as Travel, Gaming, Dating and other high risk merchants).
  • Your account does not show any new sales for one or more weeks.

IMPORTANT: All relevant copies that are submitted need to be date stamped and signed by an authorized representative of the MultiCards account holder! There are no exceptions. Accounts will only be fully approved once the required supporting documentation  has been fully completed and has been reviewed by our Risk Department.

Please issue a support ticket through the Merchant Menu to contact our Payments Department regarding the status of your payment. We do not provide any payment details over the phone due to security reasons.

All of our products and services are subject to Value Added Tax (VAT). The tax rate vary by customer location. All prices stated in our pricelists are without VAT. Please refer to tax table below for details.

European Union customers

VAT regulations apply within the European Union (EU). VAT is due if a private customer in the EU purchases a product or service from a supplier within the EU. Merchants should include VAT in their sales prices based on their official location of business. Corporate customers located in the EU who specify valid EU VAT ID during order process are subject to EU VAT regulations as well, but may be charged at 0% VAT, with obligation for corporate customers to follow the VAT rules in their own country. Contact your local accountant, tax advisor or local tax office. MultiCards is never responsible for the proper interpretation of the VAT rules or tax obligations from their merchants.