In this article, we’ll explain what your Merchant Account balance in Adyen is and how to top it up. This article is for users of Spektrix Payments in all regions.
Before you read this article, you should be familiar with:
What is a Merchant Account Balance?
The balance in your Merchant Account is the amount of available funds.
Available funds consist of:
- Pending: The gross amount of Sales and Refunds that have not yet been settled by the card scheme or payment method
- Next Payout: The amount to be transferred to your bank account at the next payout
The balance of available funds will increase or decrease as sales and refunds are processed.
How do I view my Merchant Account Balance?
Before you can view balances and create a payment link or top up, you’ll need the Merchant Financial Role added to your Adyen User Account. Contact Support to request to add this Role to your Adyen User Account.
Once a User has been granted access to the Merchant Financial Role, they'll be able to add this Role to other Adyen users in your Merchant Account. Read Creating and Managing Spektrix Payments User Accounts for more information.
Once you have the Merchant Financial Role, follow these steps:
- Log into your Essentials Dashboard
- From the Home menu look at the Next payout section:
The Next payout section consists of:
- Next payout amount: The amount which will settle in your bank account at the next payout. This amount can change as sales, refunds, chargebacks and other adjustments are processed.
- Pending: The amount of sales and refunds awaiting settlement from the card scheme or payment method. If there are no pending sales or refunds, no value will be displayed
Why do I need to top up my Merchant Account Balance?
When you issue a refund, the funds are deducted from available funds in your Adyen Merchant Account. If your Merchant Account doesn’t contain enough funds to issue a refund, the refund will fail.
For example, let's say that at the start of the day your account balance is zero and you’ve taken a payment for $80 which hasn't yet been settled.
A customer then requests a refund for $100. This refund would fail due to an insufficient account balance. To process a refund, you would need to top up your account balance by transferring funds from your business bank account to your Adyen Merchant Account.
Read Failed Refunds in Spektrix Payments for more information.
How long do bank transfers take to clear?
Deposits into your Merchant Account can differ, depending on your location:
- USD and EUR: Payments will be deposited within two business days
- GBP, CAD and other currencies: Payments will be deposited within three business days
When should the top up be used by?
You should use funds from the top up deposited in your Adyen Merchant Account straightaway. Any unused funds will be transferred back to your account in your next Payout.
For example, lets say your Adyen payouts are processed on a daily basis. The funds from your top up are deposited into your Adyen Merchant Account on a Tuesday. As your next payout day is Wednesday, any unused funds from the top up will be included in Wednesday's payout.
This might mean you don't have enough available funds to process a refund, therefore you'll need to top up your Adyen account again.
How do I top up my Merchant Account Balance?
To top up your Merchant Account Balance, you’ll need to transfer funds to your Adyen Merchant Account through a Bank Transfer or SEPA Transfer.
TIP: You'll need to complete this process whenever you want to to up your Merchant Account. Each payment link or top you create will generate a unique reference.
If you top up your Merchant Account without a reference, or use an incorrect reference, the funds will not reach your Merchant Account.
If you have transferred funds using a reference number from a previous top up or have omitted the reference number, read Funds haven't transferred to my Merchant Account.
These steps will guide you through the process of creating a payment link or top up. Once completed, you’ll be given the payment details to transfer funds to.
- Log into your Adyen Essentials Dashboard
- In the Home screen, click Control your balances:
TIP: If any top up payments are pending, you’ll see these displayed.
- Click Top up:
- Enter the amount. The currency will default to your local currency:
- Click the dropdown arrow next to Select a reason for top up. Choose Other:
- Click Open payment link:
TIP: If you have an active pending top up, you won’t see the Open payment link. Instead, you’ll see a message displayed under the Reason field. To create a top up, click Continue to create top up offer.
Choose from the following:
Bank Transfer
Bank Transfers are a secure method of transferring funds from one account to another. Depending on your bank, you can either set this up over the phone or online. If you set up a transfer online, you may be asked to complete authentication to confirm your identity.
REMINDER: USD and EUR payments will be deposited within two business days. GBP, CAD and other currencies will be deposited within three business days.
To pay by Bank Transfer, follow these steps:
- Select Bank Transfer (GB):
- Click Continue to Bank Transfer (GB):
- You’ll see a Pay using Bank Transfer screen:
You or your finance team will need to contact your bank to set up a bank transfer. Your bank will ask for the following:
- Amount: The amount of your top up
-
With reference: The reference number associated only to this top up. This ensures the funds are transferred to your Merchant Account.
WARNING: Each payment link or top you create will generate a unique reference.
If you top up your Merchant Account using the reference from a previous top up, the funds may not reach your Merchant Account.
For more information read Funds haven't transferred into my Merchant Account. - Beneficiary Name: The name of the account you’re transferring funds to. In this case it’s Adyen N.V
- Bank: The name of the bank you’re transferring funds to
You’ll also need to provide:
- Sort Code
- Account Number
Or
- International Bank Account Number (IBAN): An internationally agreed code that is used to process bank transfers
- Bank Identifier Code (BIC): Used to identify the bank, county, location and branch
To receive these details by email, follow these steps:
- Send a copy of these details to my email address: Check this box.
- Email Address: Enter the email address you want to send the bank details to.
- Add a note to the email: You can add a note to the email to provide context. For example if you’re sending the bank details to your finance team.
Alternatively, you can print the details by clicking print this page.
SEPA (Single Euro Payments Area) Bank Transfer
SEPA Bank Transfers are only available in countries part of the SEPA zone. For example, the UK and Ireland. Spektrix Payments users in the US and Canada will need to select Bank Transfer.
REMINDER: USD and EUR payments will be deposited within two business days. GBP, CAD and other currencies will be deposited within three business days.
To pay by SEPA Bank Transfer, follow these steps:
- Select SEPA Bank Transfer:
- To receive the payment details by email, check the Send a copy to my email box. Enter your email address:
- Click Continue to SEPA Bank Transfer:
- You’ll see the bank details to send the transfer to:
You or your finance team will need to contact your bank to set up a bank transfer. Your bank will ask for the following:
- Amount: The amount of the top up.
- Beneficiary: The name of the account you’re transferring funds to. In this case it’s Adyen N.V
- International Bank Account Number (IBAN): An internationally agreed code used to process bank transfers.
- Bank Identifier Code (BIC): Used to identify the bank, county, location and branch.
- Reference: The reference number associated only with this top up. This ensures the funds are transferred to your Merchant Account.
WARNING: Each payment link or top you create will generate a unique reference.
If you top up your Merchant Account using the reference from a previous top up, the funds may not reach your Merchant Account.
For more information read Funds haven't transferred into my Merchant Account.
Funds haven't transferred into my Merchant Account
If you top up your Merchant Account without using a reference, or an incorrect reference, the funds will not reach your Merchant Account.
In this case, Adyen will mark the funds as unrecognized and return them to your bank within 5 business days.
If the funds are not returned, contact Support. You'll need to provide the following:
- Transfer Date
- Your bank account number and sort code
- The bank account number and sort code you transferred the funds to
- The Reference number used for the transfer (if available)
Our Support Team will contact Adyen. Adyen will attempt to match the funds to the open top up before the funds are marked as unrecognized.
How to view the Top Up in Adyen Reports
Once a top up has cleared into your Merchant Account, you’ll see the transaction in the following reports:
The top up will be displayed in the Type column as ‘MerchantPayin’:
Further Reading
This article should give you the information you need to top up your Merchant Account. To learn more about Spektrix Payments, visit the Spektrix Payments section of the Support Centre.