Portal based reconciliation offers Merchants and Partners a new dedicated space with a summary view of all payments in and out of their Settlement accounts and daily settlement payments/sweeps to their approved destination bank accounts, this includes those making use of our No-code Payment Links portal.
Settlement account overview
Easily check the current balance for each of your Settlement accounts. Toggle between each Settlement account to view the associated transactions and sweep summary for each day.
Reconciliation overview
Provides a customisable summary view of all the Payments in, Payments out and amounts swept to your approved destination account. Click on the drawer to see more details into what associated transactions related to that day's sweep.
Customisable reports
Customise the report by filtering by time frames such as, last 7 days, last month, etc. You will also have the ability to download CSV reports for a single sweep or multiple sweeps with the ‘Download all’ function. After selecting ‘download’ you will receive an email containing a link where you can download the requested file.
FAQs
What information is included in the CSV download?
Downloading the CSV file will provide you with a full report for the selected date period, covering all the Single Payments being made into the Settlement account by your customers, all the Refunds processed in that time and also the total amount we sweep to your destination bank account at the end of each day.
If you have the Payouts feature enabled, these will also appear here.
What is the difference between a refund and a payout?
Refund: The amount transferred back to the customer for the return of goods or services not rendered. The refund amount can be any amount up to the full amount of the original payment.
Payout: Payouts allows you to safely initiate a bank transfer from your account directly to the bank account of a verified customer who requires a payout. The amount of the payout can be any amount, as long as the funds are available.
Only merchants who have payouts enabled will see the Payouts line listed in the Reconciliation report.
What is a Miscellaneous transfer?
This is a direct transfer into the settlement account that is not linked to a verified sale or transaction on your merchant’s end. For example if a customer has attempted to process a manual bank transfer from their account to your Vyne Settlement account, bypassing the usual Vyne payment journey.
Due to an AML rule we have in place, we do not allow payments to be made directly into a settlement account (other than from a top-up). These payments will be rejected and returned to the senders account immediately.
However, on the very rare occasion, payments of this nature may be accepted and included as part of the daily sweep so it's important that we still account for it as part of the daily reconciliation report.
What is a top-up?
This is a direct payment into the settlement account from a pre-approved merchant bank account used to top-up funds in the Settlement account in the event an urgent payout or refund is required and funds are not already available. Click here for more information on how to top up a Settlement account.
Why are there dates missing in the reconciliation overview table?
If there is no entry in the reconciliation overview table for a particular date, this means that there were no funds transferred to your destination account for that period, therefore no report can be generated. You can still find any refunds or other payments from that period in the Single Payments page.
Why was there no sweep/funds transferred to your destination account?
Money will not be swept out of your Settlement account to your destination account if the balance is less than the reserve amount that you have pre-set. Once the balance is larger than the set reserve amount you will receive the funds and will see the entry for that period in the reconciliation overview table.
If you have any questions regarding reconciliations and reporting within the Vyne portal or require assistance, please don't hesitate to contact us.