You need to provide proof of payment that links to the transaction in question. If the payment details match (reference, amount, date of transfer) and the corresponding inbound transfer on your bank account is found, Volt will start the internal investigation and update the transaction status accordingly. Otherwise, the transaction is considered unsuccessful, and the shopper is advised to contact their own bank.
Volt Support will provide you with the specific failure reason if provided by the bank. Then the performance of the bank is also checked for other occurrences of this particular problem so that the bank can be contacted and asked for a fix/ improvement.
Volt automatically pings the bank for status updates in fixed intervals. In the case the transaction was not updated by the bank for more than 5 business days, we advise to consider it failed.
Volt has implemented alerts on bank degradation and is providing relevant updates via https://status.volt.io/ and no-reply email notifications. When the bank is confirmed to be down, Volt temporarily disables it, so it is not shown on the checkout page.
If the notification has been sent already, you will be informed accordingly and advised on how to subscribe to them (if necessary). At the same time, Volt’s technical support (2nd line) starts investigating with the bank network providers.
If you’re using Gateway only, we can’t see when funds are received because we don’t have access to the destination bank account. Because funds may be held by the sending bank, they can take up to 72 hours to arrive.
We strongly recommend integrating Connect, which allows us to monitor incoming funds and let you know the moment they arrive.
Banks do not notify us in such cases as they have no legal obligation to do so. Please instead check your reconciliation report in Connect.
It depends on the bank and clearing mechanism. Typically, the maximum settlement delay for a SEPA batch payment is 72 hours – e.g. a payment is made on Friday evening and the next batch clearing is early on Monday morning.
This depends on the bank, your shopper base, and in which country you operate – e.g. some banks in Germany are prone to fraud attacks, while other countries/bank groups work very smoothly. Generally, chargebacks won’t occur with Open Banking once you have the money in your account.
We are also switching to SEPA Instant wherever possible, which resolves this issue of having the payment stopped.
Volt has no control over the payment status, so we’re not actually “allowing” a transaction to be in a pending state. We fully understand the resulting inconveniences and focus very strongly on ensuring that transactions move to a final status (completed, failed, or error). We run status checks against bank APIs in regular cycles to inquire about the exact transaction status. However, some banks either update transactions with great delay or not at all. We monitor such banks and escalate this with them, but are confined by the leverage provided by PSD2.
You will need to reconcile any expected payments against actual received payments on your bank statement. Alternatively, please talk to us about Connect, our cash management solution, where we manage the reconciliation process for you (letting you know that instant payments are received and settling a single amount to your bank account at the end of each day).
It depends on the bank. Some have a cut off every night, others every three hours.
We’re currently testing which banks already support SEPA Instant. We’re switching this feature on for all supported banks.
This very much depends on the country/bank. In the UK, the initiation confirmation is typically only issued after the funds are blocked.
However, in DE/AT, every bank has its own methodology. Some are on batch/overnight clearing. They check if the technical payment request is OK in real time, but they only run the balance check at night when they try to execute the payment. At this point, they determine “insufficient funds”.
We are trying to migrate as many banks to SEPA Instant to mitigate this risk.
Failed transactions fall into two categories – ‘refused by the bank’ or ‘error’. Whenever we receive an ‘error’ status we investigate with our partner network, and the banks directly, the cause to make sure transactions are processed correctly. Since this happens outside of Fuzebox, we do not communicate the exact reason for the error. If you have any transactions you’d like to investigate, please send them to email@example.com.
We currently do not receive consumer account details such as name, IBAN and account number from all banks. We are working with the bank networks to get this data wherever possible.
The process depends on the actual change to be made. In case any company data needs to be amended, a signed Change Form is required along with the supporting documents. The payment processing configuration does not require any documents to be provided.
Send an email to our Support team. We will receive the request and provide you with all necessary documents and information on how to proceed.
In sandbox, you can use Woodbank for GBP, and Wood bank, N26, or AIB for EUR test transactions.
There are no processing caps on our side. Usually, the natural scheme limits apply, however, we have automatic fallback mechanisms to GBP and EUR SWIFT which have caps of 250,000.
Other schemes’ limits include:
- SEPA: 100,000 EUR
- Faster Payments: 250,000 GBP
- Elixir: 100,000 PLN
Other bottlenecks are usually caused by individual consumer bank account limits.
No, this is not possible at the moment. However, we will make this configuration available on a per-customer basis in the future.
We are working on adding this option to Fuzebox in the near future. In the meantime, we can provide manual reports on request.
You can do this by going to ‘Checkout branding’ in Fuzebox. We recommend enabling it on sandbox first before switching to production.
If you did not get any response from the initial payment creation API call, you will not have received a payment ID, which means you will not be able to continue with the payment process or perform any status check.
Please try again with a new payment request. If you’re getting repeated failures, please let us know as soon as possible so that we can look into it and help you resolve the issue.
Subsequent requests using the same reference will fail. Each payment request should have a unique reference so that both you and Volt can trace the individual payment through the process.
We will make incremental retries every minute during the first five minutes, then every five or 10 minutes for an hour, hourly/daily keep-alive pings. We will queue up all notifications. Additionally, we will send an email to the email address you specify in the application in Fuzebox.
If the transaction is COMPLETED on our side, it means the payment initiation at the bank is completed successfully. However, under PSD2 (the regulations which govern Open Banking) there is no guarantee of payment once instructed. Banks may stop transactions at their discretion. Please, therefore, ensure that you implement reconciliation from your bank account releasing goods or services.
Delayed at bank means the bank cannot tell us the outcome of the transaction at a given moment – for whatever reason. It can end up either approved or denied. Also, as Open Banking is a relatively new concept, some banks have not yet fully implemented it. If the user abandoned the transaction, the bank can set the transaction status as “Delayed” for quite some time.
We usually do not share our IP addresses unless absolutely necessary as we use a dynamic pool of addresses that might change at any time. All notifications are signed by us and you should use this as proof that the notification originated from Volt.
Please use Volt’s payment ID.
To do this, you need to use the merchant’s sandbox credentials from Fuzebox. Switch the portal to Sandbox mode (see bottom left), navigate to ‘Customer’, select the specific merchant and use these credentials to authenticate. Ensure you use https://checkout.sandbox.volt.io for your requests.
You will need one settlement account per currency.
If, for example, you want to receive both EUR and PLN then Volt needs to configure a settlement account for each currency in Fuzebox.
Since open banking payments are account to account, there is no risk of chargebacks. Once the funds hit your account, it is up to you to issue a refund if you require.
The main risk is the bank account gets taken over by the bank due to excessive fraud, or banks simply stop clearing transactions for various reasons (same as with SOFORT).
We are now switching on SEPA Instant wherever the bank supports it. This means transactions will clear within 15 seconds, which will greatly reduce non-settlement risk.
Correct! They have notification webhooks.
In the typical model the merchant would receive the customer’s payment. However, with Connect – our cash management solution – the customer pays us, we reconcile and initiate a lump-sum settlement at the end of the day.
No, we receive no notification about “money in the bank” on the receiver’s side. Please make sure to monitor your own bank account for incoming payments, and if possible reconcile automatically.
Volt operates two models: Gateway and Connect. Both involve passing you the payer account data made available by the bank during the payment process.
In the Gateway model, Volt is not in the money flow. You therefore need to payout manually from your own bank account to the account data Volt has made available to you. This data is also visible in Fuzebox.
On Connect, Volt makes refunds and payouts available via API.