1- When is it necessary to obtain prior written approval before using Factorial Cards? And what can lead to the imposition of Restricted Business categories?

You must not use Factorial Cards unless you have received our prior written approval. Restricted Business categories may be imposed through card network rules, requirements of financial partners, or due to compliance and legal obligations. If your business falls into one of the restricted categories, please get in touch with us. Our team is ready to provide assistance and support.

2- What are the additional costs associated with creating card accounts for customers? Are there any fees for using the cards internationally?

Creating a cards accounts implies no additional costs for customers, other than what they have already paid to use one of our Factorial plans that include the use of cards. However, international fees will apply when cards are used abroad:

• 1%+0.3€ fee will be applied for payments outside the European Union
• 2% fee will be applied for payments in a currency other than the Euro)

For UK customers, the fees will be:

• 1%+0.3€ fee will be applied for payments outside the UK
• 2% fee will be applied for payments in a currency other than GBP

3- What are the procedures for canceling a lost card in Factorial? Can both the cardholder and the spend manager cancel the card?

If a card is lost, the cardholder or the spend manager can cancel it right away from Factorial and it won’t longer work. It is important to note that this action is irreversible. In the same way, if the card is used by an unauthorized individual, spend managers can cancel the card. In this case, please reach out to Factorial for further assistance and support.

4- What happens when you make a payment with a Factorial card?

When you pay with a Factorial card, a notification will appear on your mobile device. To link an invoice or receipt to the payment, you can either take a photo using your device's camera or upload a photo from your gallery. The remaining expense details, such as the date, vendor name, currency, amount, category, and others, will be automatically populated.

You will have two options: Saving the expense as a draft (in case you want to do further modifications) or submitting the expense for approval (if all the information is ready).

5- Are stripe multi-accounts supported?

Yes. Currently, companies with an Enterprise Expenses plan can create one Factorial Card Account for each Legal Entity.

6- Could we block or allow for certain expenses (food, travel, etc) with the Factorial card?

Yes! Through card controls, companies have the ability to permit payments only when specific conditions are fulfilled, including maximum amount, period (daily, weekly, monthly, yearly), and category.

7-What are the main purposes of virtual cards for companies?

Virtual cards are mainly utilized for two main use cases: Online payments and software subscriptions. This includes making online purchases for flights, and office supplies, and subscribing to various tools and services like Hubspot.

8- What does “Reversed” signify?

When a transaction is marked as "Reversed," it indicates that the cardholder initially authorized the payment. But for some reason, after a while, the vendor decides not to capture the payment. During this period, the amount will be displayed as withheld or pending.

Pending transactions are card payments that are not yet confirmed by the merchant. In this section, you can view:

• The total of transactions pending to be confirmed
• For each pending transaction, some extra information such as the amount, the card used, the employee, the merchant, the date, etc.
• A link to the corresponding expense
   

Here is a more detailed explanation of how the process works when an employee makes a payment with a card:

1. We check on the available balance if the payment is allowed for that category.
2. If the payment is declined, the authorization is denied, and no expenses are created.
3. If the payment is approved, an authorization is created.
4. An authorized payment then leads to the creation of an expense.

An accepted authorization does not necessarily result in an immediate transaction. In fact, some authorizations may never be captured. They simply verify that the card is valid. The transaction (money deduction from the account) can occur up to 1 month later, depending on the merchant. We set expenses as "Reversed" (expiring) when the transaction had not been captured within 15 days. However, this caused issues when the transaction was processed (money deducted from the account) after 20 days for example, and the status remained as "Reversed" without the ability to change it.

9- What are pending transactions?

Pending transactions are card payments that are not yet confirmed by the merchant.

In this section, you can view:

• The total of transactions pending to be confirmed
• For each pending transaction, some extra information such as the amount, the card used, the employee, the merchant, the date, etc.
• A link to the corresponding expense

10- What will appear as an expense category when an employee makes a payment with the Factorial Card?

When a payment is made using the Factorial Card at a Point of Sale (POS), the card automatically retrieves the Merchant category for the transaction. This merchant category is then filled in automatically. However, employees have the ability to modify the merchant category when submitting an expense claim.

Imagine an employee paying for a meal at a hotel with a Factorial Card, the category that would be retrieved, normally, is Overnight. However, the employee would be able to change the category to Meals before submitting the expense for approval.

11- Is it possible to withdraw money from ATMs with these cards?

Currently, it is not possible to withdraw money from ATMs using these cards.