💡 Money from online sales is reserved and will arrive in your Holvi account after 7 days.
A reserve is a temporary hold on a business’ funds for a set period of time – in the case of customers selling via a Holvi online store, this period is 7 days.
Reserves are used to cover any anticipated losses that may result from your business’ processing activity. This is a common practice for financial institutions like Holvi, to make sure businesses are able to cover disputes and refunds from their customers.
Funds held in reserve will be paid out once the reserve terms ends in 7 days, minus any customer refunds or disputes that may have been covered by the reserve.
Why does Holvi reserve payments?
As a financial institution that processes payments, Holvi is responsible for the disputes and refunds that arise when businesses accept payments from their customers but are unable to fulfil their orders.
When disputes happen, the payment amount is usually deducted from a business’ account balance. However, in some cases it’s possible that the funds in the account aren’t sufficient to cover any dispute amounts. To avoid such situations, we place reserves to cover any possible future disputes, to protect both your business and your customers.
What amount is reserved, and for how long?
Holvi reserves the full amount of online store sales for 7 days, in line with standard market practice. The reserve period starts the moment an online sale is made and ends 7 days from the time of sale, after which the funds will become available in your Holvi account.
How do I check the status of a reserve?
You can check the status of a payment in your transactions list any time – view a complete list of our payment statuses here. To find out when an individual reserve is lifted, click on the transaction in question. In the transaction details you’ll find the reserve end date, when your funds will become available to you.
Can a reserve be extended?
Reserve funds will be released in full at the end of the reserve period (7 days) if they are not needed to cover disputes or refunds.