Payment Details

Payment statuses

Use the below diagram for guidance of how Payments (credit-transfers as well as direct-debits) transitions through various statuses.

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It is NOT recommended to have clients strictly locked down as the diagram below shows.

The state machine is to be used as guidance and for understandability of how Atlar Payments behave, not as a strict truth to what always will occur.

Atlar may create new events (not statuses), and hence new transitions in the below state diagram without considering it breaking backwards compatibility. Statuses will however not change.

There are also situations where unexpected issues occur (can be because of bank or Atlar), and in those situations an Atlar operator can force update a payments status to get back into the correct status. This will result in an event: OPERATOR_FORCE_UPDATE, and the updated entity will have the new status.

(Direct-Debit) Mandate statuses

Use the below diagram for guidance of how Mandates transitions through various states. While we would consider changing the possible state transitions a non-backwards compatible change of the API, it is not recommended to have clients strictly locked down as the diagram shows.

Payment schemes and Timings

Payment timings differ across schemes; this section provides you with a general overview. However, it’s important to note that there are differences between banks in how they handle timings — we cover this during your onboarding to your respective banks.

SEPA

SEPA Credit Transfer

SEPA Credit Transfers reach the recipient account within one business day. In case a payment has been sent prior to the underlying bank’s cut-off time, the payment will be settled the same day. In case the payment was sent after the cutoff it will reach the recipient within one business day.

SEPA Instant Credit Transfer

SEPA Instant Credit Transfers are processed instantly 24/7/365. In most cases, the money is available to the recipient within 10 seconds after the payment has been sent.

SEPA Direct Debit CORE

Collections can be made straight away when a mandate has been signed with the customer. For the majority of banks, the direct debit collection instruction must be sent to the bank at least one business day prior to the requested collection date.

SEPA Direct Debit B2B

Collections can be made after the debtor bank has validated the existence of the mandate. It has to be noted that the creditor will not receive a notification regarding the mandate activation status. Thus, it has to be tested by initiating a direct debit collection. For the majority of banks, the direct debit collection instruction must be sent to the bank at least one business day prior to the requested collection date.

Sweden

Swedish account transfer

Swedish account-to-account transfers reach the recipient account within one business day. In case a payment has been sent prior to the underlying bank’s cut-off time, the payment will be settled same-day. In case the payment was sent after the cutoff it will reach the recipient within one business day.

Swedish giro payment

Swedish Giro – BankGiro & PlusGiro – payments reach the recipient account within 1 business day. In case a payment has been sent prior to the underlying bank’s cut-off time, the payment will be settled the same day. In case the payment was sent after the cutoff it will reach the recipient within 1 business day.

Autogiro

New mandates can take up to 6 business days before they’re activated and collections can be made. Collection instructions must be sent to the bank at least 1 business day prior to the requested collection date.

Denmark

Danish account transfers

Standard Credit Transfers

Standard Credit Transfers will arrive the following business day if the payment was sent to the bank prior to the cut-off. In case the payment order is sent after the cut-off, the payment will reach the recipient’s account two business days after it is sent.

Same-day Credit Transfers

Same-day credit transfers reach the recipient’s account the same day if the payment order was sent to the bank prior to the cut-off. In case the payment order is sent after the cut-off, the payment will reach the recipient’s account one business day after it is sent.

Immediate Credit Transfers

Immediate credit transfers are processed instantly 24/7/365 can be used for payments up to DKK 500,000. The money is made available to the recipient within seconds after the payment order is sent by the debtor.

Betalingsservice

Mandates will be registered by next business day if sent to MasterCard prior to 5:30pm CET. Collections can be made one business day after a mandate has been registered. The deadline for submissions to Betalingsservice is 9am CET six working days before the end of the month preceding the month in which you wish to take the payment. Example: You wish to collect in September, so you need to send a payment request to Betalingsservice 6 working days before the end of August.

International

Cross-border bank transfers

Cross-border bank transfers are financial transactions where the debtor and creditor are based in separate countries or when the debtor and creditor are in the same market but transacting in a third currency. In the case of SEPA countries, a transaction would classify as cross-border if the currency transacted in is not the Euro. For example, a Swedish company with a Danish currency account initiates a payment to a company based in Denmark with a Danish bank account.

Cross-border payments are sent through the SWIFT (System for Worldwide Interbank Financial Telecommunications) messaging system and leverage the concept of correspondent banking to settle the funds. As cross-border payments are sent over SWIFT, they require an IBAN and a BIC to identify the recipient account.

The amount of time it takes for a cross-border payment usually ranges from one to five days. If the payment has been initiated prior to the cut-off time, it will be processed the same day.

Account Identifiers

Account identifiers differ across markets. This section provides you with a general overview of the four types of account identifiers used by Atlar.

Country specific account identifiers

Atlar performs validation on country specific account identifiers. This table provides you with more details.