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FAQ

How can we help you?

faq

What is a Negative Interest Rate?

Negative Interest Rate is a yearly 1.0% ( which is ~ 0,0027% daily) fee to hold in your available* EUR balance.
The European Central Bank’s interest rate is negative right now. That means it costs PayDo money to hold euro balances for our business customers.
Please note, to keep your money safe, we are using reliable European banks, which have recently implemented this fee. This is not a PayDo interest rate and we are not getting any commercial benefit from this rate.
To cover these costs, we’re introducing an annual fee of 1.0% to hold amounts in euro balances. The fee will be charged daily and only on balances in EUR. Holding amounts in other currencies will remain free.
* – Merchant’s pending and rolling reserve EURs balances are not affected by negative interest fees.

E-wallet and money transfers

Virtual banking (eWallet) account

How can I get and where can I find information about a bank account? What to indicate in the reference of outgoing bank payment? How to accept an incoming bank payment? How to create a bank transfer? How to transfer funds to another PayDo user? Payment history. List of transactions and export to PDF Is it possible to cancel a sent payment? Where to find payment commissions? How to add a bank card? What are the types of balances? Types of IBAN requisites If there are no funds on the balance, will the money for services be debited from the linked card? What is a transaction and what are payment statuses? What is a Negative Interest Rate? Templates and how to repeat a payment?

Your PayDo profile

How to contact PayDo customer support? How to close a PayDo account?

Verification

The list of documents to verify the account Business account verification Personal account verification Why was my account declined? How long does it take to verify an account? Risk level determination

Currency exchange

What currencies are available for exchange? Where can I exchange currencies? Email notifications configuration How to change email? How to set-up a two-factor authentication? How can I get and where can I find information about a bank account? What to indicate in the reference of outgoing bank payment? How to accept an incoming bank payment? How to create a bank transfer? How to transfer funds to another PayDo user? Payment history. List of transactions and export to PDF Is it possible to cancel a sent payment? Where to find payment commissions?

Top up wallet

What is the minimum amount to top up an account with? How to top up the account with bank details? How to top up the account with a card? How to add a bank card? Profile registration and activation How to log in to PayDo for the first time? How to change/Reset password? Why is my account verification pending? What are the types of balances?