Outbound payments

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1. The Finnish IBAN

Holvi became a part of the SEPA agreement in September 2016. This means that we can offer our own IBAN and BIC numbers. For global customers of Holvi Payment Services Oy, we offer a standardised Finnish IBAN. To customers of Holvi Payment Services Oy - Zweigniederlassung Deutschland in Germany, we offer a local IBAN. Here is an example:


FI12 3456 7890 1234 56



DE89 1001 7997 1234 5678 90


More information about the Finnish/German IBAN and SEPA can be found in the attached pdf-file:

 2. Outgoing payments from Holvi - things to keep in mind

To make payments out of your Holvi account, your identity must be verified. 

You can check how long outgoing payments take under here.

All outgoing payments from Holvi are SEPA credit transfers. That means, you can make payments to all countries belonging to the SEPA (the Single Euro Payments Area). You can find a list of the SEPA-countries here: European Central Bank - SEPA countries. If you want to make an international payment to a country outside of the SEPA region, please check our article on International Payments.

3. How to Make an Outgoing Payment from a Holvi Account

  1. Select the Transactions tab on the left side of your Holvi account (see picture below).
  2. Click New payment.
  3. Fill in the following details: subject (not sent to the beneficiary), execution date (optional) and whether the payment is to be repeated under repeat payment.
  4. Fill in the payment items (not sent to the beneficiary): item name, category, amount and VAT % if your account is VAT liable. Each outbound payment must be associated with an expense category. You can add expense categories from bookkeeping -> add category.
  5. Beneficiary details. Fill in the name and IBAN of the beneficiary or choose the beneficiary from the list below the field.
  6. Payment reference or message. If you have a reference number you can include it into the reference field. You can also leave this field empty and include a message to go along with the payment. Either a reference number or a message must be included in the payment.
  7. Add attachment. It is good accounting practice to save the invoice you're paying (if you have one) as an attachment to the payment. You can do this by clicking the paper clip icon at the bottom. This attachment can also be something completely different, like a photo from an event or a warranty certificate. 
  8. click Pay Now.
  9. You will have to verify the payment with a confirmation code that will be sent to your mobile phone automatically when you click the Pay Now button. You do not need to order this code separately. But if you haven't received it within a few minutes after saving the payment you may order a new confirmation code by clicking "Request a new one here". Each code is valid for 15 minutes.

When you have confirmed the payment, its status updates and you can see it in the list under Transactions

Please note: Once a payment has been confirmed, you can no longer cancel a verified payment.

When you make a payment out from Holvi, the transfer will be dealt with based on Holvi's cut-off times. The money is then transferred to the receiving entity and it arrives to the receiver based on the processing time of the receiving entity.

Here you can read more about Holvi's payment processing times. 

4. How to make a payment with the Holvi mobile app

You can find instructions how to to make a payment with the Holvi Movile App here!

5. How to edit a payment after it has been sent

  1. Select the Transactions tab from the left side menu of your Holvi account. Then select a payment that you have made from your Holvi account and now wish to edit.
  2. Scroll down a bit and you will see the Payment items.
  3. Click on the Edit button on the right to be able to edit the payment details.
  4. You can allocate each item a new VAT %, change the categorisation and change the paid amounts as long as the total gross amount of the payment remains the same as the original payment.
  5. After you have done with the editing remember to save and the payment is stored with new details. Your reports will be automatically updated. 

6. SEPA Direct Debit

General information about SEPA Direct Debit
Holvi has become direct partner of SEPA in September 2016, and therefore we have since then been offering our own IBAN and BIC. This important step allowed us to further expand our offer. The direct SEPA participation with a Finnish IBAN for example allows us to now offer SEPA Direct Debit with Holvi accounts. 

Which type of Direct Debit does Holvi offer? 
Holvi supports SEPA Direct Debit Core (SDD Core), which allows your business partners to collect money from your account. At the moment, we do not offer the other direction, that allows you to collect money from your customers’ accounts. 
Holvi does not support SEPA Direct Debit B2B (SDD B2B).

What do I need to do if the Finnish/German IBAN is not accepted on the provider's website?
In this case, please contact the provider briefly to enquire the reason why they didn’t accept the SDD. Most companies do accept the Finnish/German IBAN even though their website may show an error message due to technical reasons.

What do I do if a company informs me that they do not accept the Finnish/German IBAN?
We would like to ask you to fill in this Form (scroll to the end of the page).We’ll treat your request with high priority and inform our compliance department.

Can I trust a German/Finnish IBAN? 
Of course! We are authorised by the same regulating authority as traditional banks. Holvi is a payment institute licensed by the Finnish Financial Services Authority FIN-FSA and is allowed to offer services across Europe.

What will happen if I don't have enough balance on my account for a Direct Debit? 
Your account must have enough balance available in order for us to be able to deduct the direct debit. In case there is not enough balance available, the direct debit will not be carried out. A direct debit that has been declined once cannot be re-activated, so you will have to carry out the payment yourself. 

How can I revoke a direct debit?
It is possible to return an authorised SEPA Direct Debit Core (with a valid mandate) to the presenter within eight weeks, i.e. the bank debit will be reversed. If an SDD Core was unauthorised (i.e. no valid mandate exists) the bank debit can be reversed within 13 months. To revoke a Direct Debit, please send an email to support@holvi.com. 

What are the fees for a direct debit? 
A direct debit transaction is a regular SEPA transaction and therefore the fees are the same as for all other transactions on your account. 

How can I activate the direct debit? 
If a company wants to collect via direct debit from your account, you only have to give permission to that company. Holvi does not have to be informed about this separately, as the sending bank will contact us in the background to request the direct debit.  

7. Payment Processing Time for Card Payments and Bank Transfers

Considering Holvi's payment traffic some payments types are immediate and some are only sent or received on banking days:  

 Payment method?

How long?

When processed?

Card payments


Every day 24/7

Giropay payments


Every day 24/7

Finnish bank buttons payments


Every day 24/7

EPS or SOFORT payments*


Every day 24/7

Receiving SEPA transfers

Up to 2 days after processing

Banking Days

Sending SEPA transfers

Up to 2 days after processing

Banking Days

Holvi-to-Holvi payments

Up to 3 days after processing

Banking Days

* SOFORT payments are enabled upon request. Please contact support@holvi.com.

Usual banking days are from Monday to Friday. The following dates are non banking days in Finland and no SEPA transfers are received or sent. All SEPA transfers will be received or sent on the next banking day.


Year 2019

1st January

19th April

22nd April

1st May

25th December

26th December

8. Cut off Time for SEPA Payments

Outbound payments

Holvi processes outbound payments every Monday to Friday (except public holidays) at
10.30am Helsinki time (UTC+02:00).

  • Example: If you make a payment from Holvi on Monday morning before 10.30am, the payment should arrive to the receiving bank latest in two banking days, so on Wednesday.

If the outgoing SEPA transfer is executed after that time, the payment is processed the next banking day (weekday).

  • Example: If you make a payment from Holvi on Monday morning after 10.30am, processing the payment is pushed until Tuesday and the money should arrive to the receiving bank latest in two banking days after its been processed, so on Thursday.

If you make a payment between two Holvi accounts, this payment may take up to 1 more day to arrive, as the money needs to be moved out of our system and then come back in. 

Here you can find the cut off time for inbound payments.


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