Welcome to Woohoo Pay

Direct Debits & Standing Orders

Will my direct debit go through if I’m low on funds?

 

If your balance can’t cover a direct debit* when it’s due, it’ll bounce and you’ll be charged a €3 fee. If you have a negative account balance, you’ll be charged an overdraft interest of 8.9%. It’s not possible to delay a direct debit.

To avoid this fee in the future, you can instantly check whether you’re eligible for an Overdraft directly in the app (available in Germany and Austria).

IBANs for Spaces: If you have assigned an IBAN to a Space and you do not have enough funds to cover an outgoing direct debit, the direct debit will bounce and you’ll be charged a €3 fee from your main account. Please note, it is not possible to go into an overdraft within a Space.

*For Non-Euro countries only: If you are setting up a direct debit with a merchant in your home currency, it’s the receiving bank who dictates the currency exchange and the ultimate amount that is collected from us. See the below list of countries:

  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Hungary
  • Iceland
  • Liechtenstein
  • Norway
  • Poland
  • Romania
  • Sweden
  • Switzerland

How to create and manage standing orders?

 

When setting up an outgoing transfer in either the Woohoo Pay app or Web app you’ll have the option to make it a standing order.

Once you complete the outgoing transfer you’ll then be prompted to tick a box which will create a standing order. After you’ve inputted the amount of the transfer and its recipient, under the reference text field select “Want to save this as a standing order?”. From here you’ll be able to set the start/end dates of the standing order and choose its payment intervals.

To view your scheduled transfers and standing orders directly in the mobile app:

  1. Go to your transaction list (the main screen).
  2. Then tap on the 3 dots located in the upper right corner for Android and on the top of the transaction list for iOS.
  3. A small window will pop, where you will be able to select “Standing Orders”.

Here you can cancel and/or modify the details of your standing order. To cancel it just tap the standing order you wish to delete and tap the trash icon in the top right-hand corner.

ℹ️  Please note, if a standing order fails due to insufficient funds we won’t attempt the transfer again – you’ll need to manually send the transfer, however the next scheduled transfers will proceed as normal.

Why was I charged a direct debit fee?

 

Direct debits returned to your account due to insufficient funds* are charged a €3 fee in accordance with our Terms & Conditions. If your balance becomes negative due to this fee, overdraft interest will also apply at a rate of 8.9%.

You can avoid these fees by making sure you have enough funds in your account to cover incoming direct debits by 18:00 on the same business day.

We suggest you use SEPA Instant credit transfers, MoneyBeam (between Woohoo Pay accounts), CASHwp (if you live in Germany, Austria, Spain, Greece or Italy) or the Debit/Credit card option to transfer the amount due. With these methods, the amount will be credited to your account instantly.

If you don’t recognize a direct debit, you can request a refund in the app.

IBANs for Spaces: If you have assigned an IBAN to a Space and you do not have enough funds to cover an outgoing direct debit, the direct debit will bounce and you’ll be charged a €3 fee from your main account. Please note, it is not possible to go into an overdraft within a Space.

*For Non-Euro countries only: If you are setting up a direct debit with a merchant in your home currency, it’s the receiving bank who dictates the currency exchange and the ultimate amount that is collected from us. You can check the list of countries below:

  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Hungary
  • Iceland
  • Liechtenstein
  • Norway
  • Poland
  • Romania
  • Sweden
  • Switzerland

What to do if my Woohoo Pay IBAN is not accepted?

 

Your IBAN includes the 2 digit country code (e.g. DE), a two-digit check number, the eight-digit bank sort code, and your ten-digit account number. For example: DE XX 10011001 26XXXXXXXX.

The participating countries of the SEPA area (Single Euro Payments Area) have agreed on the IBAN system in order to simplify national and international payments, and to reduce the risk of error in the communication and processing of transactions.

Merchants or employers who do not accept IBANs from other member states of the European Economic Area are violating European law as of 1 February 2016 (Article 9 of Regulation No 260/2012.

If you are ever affected by IBAN discrimination, please contact your relevant national authority directly and notify them. Provide your contact details, the name of the merchant or company that didn’t accept your IBAN, as well as a brief description of the incident (including a screenshot of the rejection or other documentation of your communication with them).

How to request a refund for a direct debit?

 

You have the ability to request a SEPA direct debit refund in the app yourself up to 8 weeks after it has been debited.

  1. Open your transaction list and select the direct debit in question.
  2. Choose Refund.
  3. The amount will then be credited to your account within 2 banking days.

IBANs for Spaces: You can also request a SEPA direct debit refund in the app for your IBAN-assigned Spaces. The same rules as above apply:

  • Must be done within 8 weeks after it has been debited.
  • Once refund has been selected, the direct debit will be credited to your account within 2 banking days

To refund a direct debit in an IBAN Space:

  1. Login to the Woohoo Pay mobile app
  2. Tap on ‘Spaces’
  3. Go to the Space you wish to refund a direct debit
  4. Select the direct debit transaction in question
  5. Choose ‘Refund’

*For Non-Euro countries only: If you are setting up a direct debit with a merchant in your home currency, it’s the receiving bank who dictates the currency exchange and the ultimate amount that is collected from us. Please check the list of countries:

  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Hungary
  • Iceland
  • Liechtenstein
  • Norway
  • Poland
  • Romania
  • Sweden
  • Switzerland