Holvi international transactions: selling/invoicing within and outside EU

Before you start: all Holvi transactions are currently done as SEPA transfers in EUR (€) currency. This means that all transactions in other currencies will have to be converted to SEPA transfers, possibly adding some delay and fees for them to be processed.

All payments that are registered to Holvi are in EUR. So if your client pays a non EUR payment to Holvi, the currency conversion fee is deducted straight from the payment and the remaining amount will arrive to Holvi. If you have to make 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 Visa and MasterCard.

If your plans include selling internationally, there are a few things of that it’s good to be aware of:

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:

2. We accept card payments worldwide, discluding high-risk and non-cooperative jurisdictions as listed in our Acceptable Use Policy (see number 16). 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.



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:

2. In many countries the use of reference numbers when making payments is not common. We advise our customers to always use a reference number for payments to be 100% sure that the payment gets directed correctly. 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 to contact 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.

 

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