Welcome to Woohoo Pay

Balance & Limits

How to top up my account?

 

Once you are successfully verified, you’ll be able to top up your account in several ways. To do so, simply go to the Woohoo Pay app and select ‘Add Money‘ to see the available options:

1. SEPA Transfer (Up to 2 business days):

  • The transfer must be in EUR and within the SEPA zone.
  • You will need to provide your IBAN and your name as it is written on the ID you used to create your account.
  • If you have a Business account, please keep in mind that we do not accept company names.
  • Since 1st July 2020 a limit of 100.000€ for incoming SEPA instant transfers applies.
  • No limit applies to normal incoming SEPA transfers

2. Debit or Credit Card (instant):

  • You can choose to deposit between 20€ and 450€ per calendar month.
  • The first deposit is free. The following deposits charge a fee of 3% of the deposit amount.
  • Simply enter the card details from the sending account.

Please note, prepaid cards and American Express credit cards are not accepted.

3. Apple Pay or Google Pay (instant):

  • You can choose to deposit between 20€ and 450€ per calendar month.
  • The first deposit is free. The following deposits charge a fee of 3% of the deposit amount.
  • Simply enter the card details (credit or debit) linked to the Apple Pay or Google Pay account.

Please note, prepaid cards and American Express credit cards are not accepted.

4. Moneybeam (instant):

  • You can receive money from other Woohoo Pay users.

5. CASHwp (instant):

  • Available in Germany, Austria, Italy, Spain and Greece.
  • Deposit cash through our partner stores once your card is activated and with your paired device.

6. iDEAL (instant):

  • Available only in the Netherlands for customer with Dutch T&C and with a iDEAL account

Important reminder for SEPA Transfers:

  • If you deposit money into your Woohoo Pay account via SEPA transfer, please make sure that the recipient name corresponds to your name as it is entered on the identification document that you used for your verification when opening the account.
  • (Especially if you have an Woohoo Pay Business account – we do not accept company names.) An incoming transfer is booked in real time, as if it was made as a real time transfer, otherwise a transfer takes 1-2 working days.
  • From July 1st, 2020, there will be a limit of € 100,000 for incoming real-time transfers.
  • In France, the first payment must be made to your Woohoo Pay account from an account that you own. (In all other countries it is not necessary that the other bank account belongs to you.)

How to top up by card, Apple Pay, and Google Pay

 

You can now add money by using a debit or credit card as well as Apple or Google Pay. This is the fastest and easiest way to fund your Woohoo Pay account. 

 

Adding money with a Debit or Credit card

  • Open your Woohoo Pay app and tap “Add money”
  • Select “Card transfer”
  • Choose an amount and enter your name on card, card number, expiration date and CVC (we never store your card information)
  • Follow the steps to confirm the payment
  • The money is available on your account instantly
  • You can choose to deposit between 20€ and 150€ per top-up, for a maximum of 450€ per calendar month.

 

Adding money with a Apple or Google Pay

  • Open your Woohoo Pay app and tap “Add money”
  • Select “Apple Pay” or “Google Pay”
  • Choose an amount 
  • Follow the steps to confirm the payment
  • The money is available on your account instantly

Accepted cards:

  • Debit cards.
  • Credit cards (Except America Express).
  • Prepaid cards (only for customers with Italian Terms & Conditions).

 

Cost: Whilst this is the fastest and easiest way to instantly add funds in your Woohoo Pay account, for us, processing these instant top-up transactions is more expensive than other account funding methods we offer.

For both methods, the first deposit is always free but extra deposits are charged a fee of 3% of the deposit amount. By charging a card or digital wallet, your money is not sent to Woohoo Pay instantly, and the fee covers additional costs associated with funding accounts before the money is received so that it is instantly available for your use.

How to keep track of my daily spending?

 

We automatically sort your transactions and display our findings in Statistics (top-right corner of the mobile app) by sorting your:

  • Categories: We collect information on retailers and payment reasons in order to improve our categorization (such as ATM, Food & Groceries, or Shopping). For example, if you send a MoneyBeam with the reference text Lunch, we’ll put it in the Bars & Restaurants category. If you feel like a category doesn’t fit, you can just change it by selecting the transaction and choosing a category from the drop-down list.
  • Hashtags: We’ve also added default hashtags for transaction times (#weekend), types of transactions (#books), or locations of purchases (#berlin). You can further sort your transactions by adding your own hashtags: tap on a transaction and then the pencil icon to add tags (such as #portugal_trip or #everymonth) or remove unwanted tags.

How to get a bank statement?

 

A bank statement is a document that shows the total balance of your account and all incoming and outgoing transactions, including transfers, direct debits, card payments, etc. It also shows the name and surname of the account holder, and the IBAN and BIC numbers of the account. Here’s how to find yours:

  • From the mobile app (PDF): on the Home screen, tap the 3 horizontal bars in the top right-hand corner and select Balance Statements.
    • You can also download a statement for a specific space: go to Spaces, choose one of your spaces, tap the settings icon in the top right corner and select Balance Statements.
  • From the web app (PDF): click the download icon* and select the relevant month under Bank statements.
  • From the web app (CSV): click the download icon* and, under CSV, select the start and end dates you need and click on Download CSV.

 

* The download icon is the square with an arrow pointing down, placed on the left of the ‘Add money’ button.

What if my balance is negative?

 

If you have an overdraft, your balance can be negative as long as you stay within your overdraft limit.

Your balance can also become negative if you have to pay Woohoo Pay fees, e.g., for our express delivery or our premium memberships. 

Furthermore, your balance can become negative if an offline card payment is received and needs to be debited. These could be, for instance, payments made on aircraft or ships, which were not taken from your balance at the time of payment authorization but must still be debited. 

In accordance with our terms and conditions, you are obligated to balance your account. You will receive a reminder via email and we ask that you balance your account as quickly as possible. You cannot make any further payments or withdrawals while your balance is negative.

 

What happens if my balance remains negative?

 

Your account will remain active for 60 days from the date your balance becomes negative. During this period:

  • You will receive two reminders.
  • If you have an overdraft, it will be canceled after the second reminder and you will have to repay the amount immediately (or you can apply for a repayment plan).
  • If you have an Woohoo Pay You, Woohoo Pay Metal or Woohoo Pay Business You account, all services will be canceled after 60 days and your account will be converted into a standard account.
  • Once this 60-day period has passed, we are entitled to close your account if you have still not taken action to rectify your negative balance.

What is the maximum I can spend?

 

Having large amounts of cash available to withdraw can be a security risk, which is why all Woohoo Pay accounts come with withdrawal limits so that we can help safeguard your account. 

The maximum daily ATM withdrawal limits based on the account T&Cs are:

  • €1.000 in Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Sweden and Switzerland
  • €2.500 in Italy and Spain
  • €400 in Togo, Congo, Benin, Ivory Coast, Kenya, Cameroon, Nigeria, Senegal, Algeria, Central African Republic, Gambia, Ghana, Rwanda, Tunisia and Uganda

The limit for in-store or online card payments is €5.000 per day in every country.

You can set your own daily ATM withdrawal and payment limits within our limits directly in the app by tapping Cards > Card settings > Daily limits

The maximum limits for bank transfers are:

  • MoneyBeam to Woohoo Pay customers (the recipient must be visible: €1.000 per day
  • Incoming SEPA transfers: No limit (€100.000 limit for Instant SEPA transfers)
  • Outgoing SEPA transfers: No limit

The maximum monthly limit (total sum) for card transactions is €20.000 per calendar month. 

The monthly ATM withdrawal limit is also €20.000 per calendar month*.

*a monthly limit of €10.000 applies to ATM withdrawals for customers who opened their account in France.