Based on our current licencing status, it's not possible to withdraw cash using your Holvi Business Credit Card at the moment. How come?
As a financial payment institution1, Holvi can only offer credit when it is directly related to a payment transaction. As cash withdrawals at ATMs are not directly related to a payment transaction, these transactions are currently not supported. Other types of unsupported 'cash-like' transactions include person-to-person payments via apps like Mobile Pay or Apple Cash.
Will this change?
In short, yes. Holvi is taking active steps towards becoming a credit institution. We hope to reach this milestone in 2022. When this happens, you'll be able to withdraw cash from ATMs using your Holvi Business Credit Card.
1. Back in 2011, Holvi received an Authorised Payment Institution licence from the Financial Supervisory Authority of Finland (FIN-FSA). With this licence, we could spread our wings and help self-employed professionals across Europe. We’ve been doing that ever since, adapting our product to promote a positive work life balance in different markets, while working under the relevant national authorities.