1. Selling/Invoicing within and outside EU with Holvi
Before you start: Currently Holvi can only accept SEPA transfers. Only transactions in EUR (€) are possible. So if your client pays with a non EUR credit card in your Holvi web store, the amount is automatically debited in EUR and the card issuer may charge a conversion fee to your customer. If you have to make other payments into or out of your Holvi account in other currencies we recommend using Transferwise.
Holvi and international sales
International customers can purchase items from your Holvi online store with international credit cards.
If your plans include selling internationally, there are a few things to be aware of:
1. Selling/Invoicing to other countries might incur different VAT rates. Before selling/invoicing internationally you should contact your local Tax Administration office and confirm the right VAT rate for your products. For merchants based in:
- Finland, we advise to contact The Finnish Tax Administration for more information
- Estonian e-residency, we advise to contact the Tax and Customs Board for more information
- Austria, we advise to contact The Austrian Tax Administration for more information
- Germany, we advise to contact The German Tax Administration for more information
2. We accept card payments worldwide, excluding high-risk and non-cooperative jurisdictions as listed in our Acceptable Use Policy (see number 30). This list is based on Financial Action Task Force’s (FATF) recommendations.
3. Occasionally you might have some clients who have trouble in making international purchases. Some card issuers/banks have limited the geographies that customers can make purchases from for security reasons. This could be an issue with Verified by Visa or MasterCard SecureCode (depending on the card type). In this case it is best to instruct the customer to contact the bank that issued the card and check for limitations. If the purchase can’t be made, you can invoice the customer so that the payment can be made with a SEPA Credit Transfer.
2. Holvi and International Invoicing
With Holvi you can invoice international customers as well. Before doing so, consider the following:
1. Selling/invoicing to other countries might imply different VAT rates. Before selling/invoicing internationally you should contact your local Tax Administration office and confirm the right VAT rate for your products. For merchants based in:
- Finland, we advise to contact The Finnish Tax Administration for more information
- Estonian e-residency, we advise to contact the Tax and Customs Board for more information
- Austria, we advise to contact The Austrian Tax Administration for more information
- Germany, we advise to contact The German Tax Administration for more information
2. We advise our customers to use a reference number for payments, so that the payment gets matched automatically to the correct invoice. So including a friendly reminder to use the reference number is recommended. If a payment arrives to Holvi without a reference number, it will arrive to the correct account but has to manually matched to the corresponding invoice.
3. If the invoiced amount includes VAT 0%, please mention the proof for it in the invoice description field for clarification.
See the below example for a VAT 0% description:
January consultancy services in Vienna (1.01.2014-31.01.2014) *VAT 0%.
*VAT 0% Place of service Vienna in compliance with ACT 1501/1993 Finnish VAT legislation (European Council Directive 2006/112 art. 56) and VAT reverse charge mechanism to apply by client (according to art. 196 European Council directive 2006/112).
Always before selling/invoicing internationally you should contact your local Tax Administration office and confirm the right VAT rate for your products. For merchants based in Finland, we advise contacting The Finnish Tax Administration for more info.
4. International payments always take more time than local payments.
If your client is paying from the European Union, Iceland, Liechtenstein, Monaco, Norway or Switzerland it takes 2-3 banking days to arrive to your Holvi account. If the payment was made before your client’s bank’s daily transfer processing (usually in the afternoon) the estimated time is 2 days, and 3 days if it was after.
Payments arriving from outside EU countries will take up to 7 banking days to arrive to your Holvi account.
3. I'm an international customer and can't make a credit card purchase in the Holvi online store. What do I do?
Some card issuers/banks have limited the geographies that customers can make purchases from for security reasons. This could be an issue with Verified by Visa or MasterCard SecureCode (depending on your card type).
On our end (Holvi) we accept Visa and MasterCard globally, but it might be that your bank considers the domicile of the Holvi merchant account (Finland) as suspicious. Have you checked that you don't have limitations set on your card?
If you need any further assistance please contact support@holvi.com.