Knowledge Base

Have a question? Look here.

What is a user?

A Payhawk user is anyone who has access to the Payhawk web platform or mobile app.

 

Is there a limit of users?

There is no limit of users on the Payhawk platform. If you have more than 30 cardholders please email us at sales@payhawk.com or call us at +44 20 3868 8704.

What currencies does Payhawk support?

Right now you can open accounts in EUR and GBP.  If you have specific requirements for currencies that are not yet supported contact sales at sales@payhawk.com or call us at +44 20 3868 8704.

Is Payhawk a bank? How can it issue cards?

Payhawk is a technical service provider under the terms of the Payment services (PSD 2) – Directive (EU) 2015/2366. We are registered as an agent to issuing banks that have passports to issue E-money in the European Economic Area (EEA) and are pursuant to license by MasterCard and Visa. Payhawk does not receive, hold, transfer or come into possession of your funds at any time.

Why should I choose Payhawk over a regular banking service?

Our key features are unmatched by any conventional banking service. The automated data entry and reconciliation, real-time expense and company cards management combined with our integrations with accounting and ERP systems provide a unique service.

How does Payhawk save me money or time?

Expense reports, reconciliation and accounting could be undoubtedly time consuming. By using Payhawk employees reduce the time spent on reporting and transaction processing significantly. We have developed a calculator based on industry average data so you can easily estimate the accumulated savings by using Payhawk.

Can anyone be a customer?

Payhawk provides company cards. Companies organised and registered in the UK and the European Economic Area (EEA) may apply for a Payhawk account. Consumers, sole proprietors and other unregistered businesses are ineligible.

In which countries is Payhawk available?

The Payhawk platform and cards are available to registered businesses in all member states of the European Economic Area (EEA) and the UK.

Do you offer a flight delay compensation?

We don’t directly, but our partners from Colibra.io do! Colibra’s standard solution earns you money for every flight with more than an hour delay. To be eligible for compensation from Colibra, you should add your flight to the app no later than 20 minutes before take-off, even if you think that your flight won’t be delayed. Payhawk Enterprise customers enjoy even higher compensation. Talk to us if you want to take advantage.

Is Payhawk a prepaid card?

No, Payhawk offers Visa Commercial Debit
cards. Unlike prepaid cards, Visa Commercial Debit cards are accepted by more than 36 millionmerchants worldwide incl. car rentals and accommodations.

Where are Payhawk cards accepted?

Payhawk issues Visa Commercial Debit cards which are accepted worldwide via one of the most accessible global card networks. Visa Commercial Debit cards are accepted by more than 36 million merchants worldwide incl. car rentals and accommodations.

How do I issue my cards?

You can issue new physical and virtual Visa Commercial Debit cards to your employees from our web portal. Virtual cards are delivered in seconds to an employee’s mobile phone and can be used for online payments only. Physical cards are shipped to your office in less than 10 business days. These can be used for online and offline payments.

How can I transfer funds to my Payhawk card?

To use your Payhawk cards your company needs to have funds in your E-money account maintained by an Issuing bank and opened as part of the Payhawk registration process. A standard way of funding the account is via bank wire.

Your funds are securely held in:

  • Your GBP funds will be safeguarded in Barclays, UK.
    Your EUR funds will be safeguarded in LHV Bank, Estonia.
    Your BGN funds will be held at DSK Bank, Bulgaria.

Do I have to top-up every company card individually?

No, there is no need to load cards individually. All of your cards are attached to one account balance per currency. You can set spend limits on each card.

What is the exchange rate on Payhawk?

Payhawk customers use the official Visa exchange rate. You can check the exchange rate on each transaction via the Visa converter calculator, available here. We charge 1.25% (Mastercard) or 0.9% (Visa) currency exchange fees for transactions in a different currency than your card currency. You can avoid currency exchange fees by issuing a card in the same currency as your transaction.

What are the card transaction fees?

Our goal is to provide you with the best possible card fees that we can provide from our issuers. For a detailed summary of all card fees see our Card Fees page.

How does Payhawk extract the data from payment proofs?

We, at Payhawk, are using a combination of machine learning and in-house developed algorithms to read and extract data from receipts, invoices and credit notes. Payhawk extracts document types, dates, countries, amounts, VATs, and supplier related information.

Will Payhawk work with our accounting software?

Yes, Payhawk can be connected to most accounting systems. We have direct integrations with Xero and Quickbooks. Our CSV export functionality works for all other accounting systems.

What if I receive a digital invoice or receipt via email?

Your company has a dedicated AI-assisted inbox to which you can forward all online generated invoices/receipts and we will automatically match them with transactions. This feature is in private-beta, contact our support for more information.

Is there an expense approval workflow?

Yes, Payhawk provides the capability to review and approve each expense.

Can I cancel my monthly subscription?

Yes, you can cancel your subscription at any time, however you will be billed for the remainder of the corresponding month. There is no annual commitment.

Can I change the amount of users? Do I need to wait for the next month to do so?

The amount of users can be changed at any time. The number of users added will be charged on a pro rata basis.

Is there a minimum amount I should transfer in my account?

Yes, the minimum amount per transfer to your account is €1,000, or your currency equivalent.