Frequently asked questions
Everything on this page is answered from how Banky actually works today. Where an answer depends on which business model you are on, both answers are given.
You take payments, or you are deciding whether to. Several answers depend on which of the two models you are on — the tags say which.
The two models
- Straight to your bank account
- Pay-ins to a merchant bank account
- Held by Banky, settled to you
- Pay-ins to a Banky account, with payouts, settlements and refunds
Start here
What is Banky?
Banky is a quick and simple online money transfer solution. It provides customers with the option to pay directly from their account without being redirected. No manual entry of recipient account or transaction details is required.
Onboarding
How do I become a client?
You can become a merchant, eligible to use Banky, if you are an officially registered company, which gets successfully onboarded and verified by our team. We would require documents related to your business and the company's ownership through the onboarding process, to approve your application and eligibility to use our services.
When can I start using Banky?
You could start using Banky when:
- you are successfully onboarded and verified
- you have a finalized agreement with us
- you are integrated to our API
- and you have an active bank account.
Is my business eligible for the Banky product?
Please get in touch and we will tell you.
What if my country is not supported?
We will include your company in a prioritized waiting list, and we will get in touch with you when we start operating in your country.
Payments
Where do I receive my payments?
You can receive your payments straight to your account or have them securely held on our end. In the latter case, regular settlements to your account are scheduled as requested and agreed upon.
How do I change the account my payments go to?Direct to you
There are a few approaches. Ask us to set it up for you in the system, or add it in the API payment request to overwrite the currently saved recipient bank account for your merchant account.
Important: there is a setting which allows or disallows the overwrite, according to your preference. If overwrite is disallowed and you still include a recipient bank account in the payment request, an error would occur.
Use the merchant portal to change the recipient account.
Why can't a customer complete a payment?
Your customer might not have sufficient funds in their selected account. If a technical issue occurs, a message is usually displayed during the payment process. For any other issues, please get in touch.
Does a customer receive notification for the payment status?
Customers will see a confirmation message once the payment is completed. They can also verify the status of their payment on their end.
How do I get notification on the status of a payment?
When you initiate a payment request, you will get the status of the payment in the API response.
The same, and you could also check payment statuses in the merchant portal.
How do I send refunds and pay-outs?Direct to you
You could send a refund or a pay-out to a customer via the API.
You could send a refund or a pay-out to a customer via the API or the merchant portal.
Integration
What are the technical prerequisites my system should fulfil?
You should have an operational website where you offer your products or services, and where you could incorporate Banky as an option for customers to complete payments to you.
Beyond that, please get acquainted with our integration documentation.
How do I integrate Banky, and how do I access the API?
Our team will help you with any questions around the integration of Banky as a payment option. The integration documentation covers using the API and getting access to it.
How could I test the integration?
We offer a sandbox environment to let you play with our API. You could request sandbox access, and our team will help you with any questions around the integration.
Merchant account and portal
Should I register an account with Banky so that I can receive payments from customers?
When you become our client, we create a merchant account for you in our system, which consists of information we have collected during your onboarding process and additional details, configurations and settings we have set up specifically for you and your business needs.
Where your incoming payments are safeguarded on our bank account, you would also get access to a merchant portal to track your balance, review payments and manage your account.
Where do I see my balance?Held by Banky
Your merchant account reflects all your incoming and outgoing payments, forming and providing updated information on your current available balance. This information can be accessed via the merchant portal.
Where could I see all my Banky payments?Held by Banky
In the merchant portal, which shows your incoming and outgoing payments and their statuses alongside your balance.
Payment statuses come back in the API response when you initiate each payment. For anything beyond that, please get in touch.
Have more questions?
Feel free to get in touch. We would be happy to clarify any doubt.