Welcome to our FAQ

Here we answer frequently asked questions about Cledara. Please visit this page regularly as we update it as we receive new questions.

1. How much does Cledara cost?

Plans for Cledara start at £30 per company per month. We offer a completely free trial for 3 months so you can try out Cledara.



2. What is needed to open a Cledara account?

You need to be a company authorised person that can manage payments on its behalf. You will need to fill in some basic information about you, your business and the beneficial owners.



3. How do I put money in my Cledara account?

You can transfer funds from any other corporate account your business holds. Note that a Cledara EUR account can receive funds from any bank account held by your company in Europe and a GBP account can receive funds from any bank account held by your company in the UK.



4. What are the transfer limits?

There are no limits on transfers in or out of your Cledara account set by Cledara. Note that individual transfers into Cledara may be limited by the payments systems – for example GBP Faster Payments is limited to GBP 250,000 per transfer.



5. How long does it take to receive money into my Cledara account?

Once your money is received by Cledara, it will appear in your account instantly. The time it takes to reach Cledara depends on the currency and your method of sending the money.


GBP payments sent by Faster Payments will normally be available in your Cledara account within 2 minutes. If you send GBP with Bacs, it may take up to 3 working days for the payment to be received.


EUR payments should be sent by SEPA Credit Transfer (SCT) and are usually received next working day.



6. Is there a limit to the money I can have in the account?

No, there is no limit to the amount of money that you can keep in your Cledara account.



7. Where is my money held?

The funds transferred to your Cledara account are held by our financial services provider PayrNet.



8. Is my money safe?

Yes, your money is safe as funds are securely held under a ring-fenced segregated Client Account as per the UK FCA’s Safeguarding Rules. These funds are bankruptcy remote from both Cledara and its financial services provider, PayrNet.


Only you are permitted access to your funds. Cledara cannot take any risk with your money. We can’t lend it out as traditional banks do.



9. Can I send money to other bank accounts?

If you have a GBP account, you will be able to send to any UK bank. If you have a EUR account, you will be able to send to any European bank. This functionality will be released in May.

 


10. What type of card is a Cledara card?

It’s a virtual Mastercard Debit card. Cledara provides Debit cards, rather than prepaid like many other fintech companies as we find that many more merchants accept debit cards, meaning you can use your Cledara Mastercard in more places. Physical cards will be released shortly.



11. What is a virtual card?

A virtual debit card is a debit card that is issued (or usable) without a corresponding plastic card. The virtual card numbers can be used to purchase goods or services in the same way that a regular card can.



12. How much does it cost to issue a virtual card?

We make it free or you. With Cledara you can issue unlimited virtual cards at no additional cost.



13. How long does it take to create a virtual card?

It’s instant.



14. Do I need to activate the virtual card?

The virtual card is automatically activated when you generate it.



15. How do I make a payment with a virtual card?

You can use the virtual card details to make a payment online in the same way you use the card details of a regular card.



16. Which billing name and address should I use when making a payment with a Cledara virtual card?

You should use the company name and the company address.



17. What happens when I disable a virtual card?

The virtual card will no longer work and no payment will be able to be taken from it.



18. Will my Cledara virtual card work in other currencies?

Yes, you can pay with your Cledara Mastercard wherever Mastercard is accepted online.



19. How much does Cledara charge for FX?

Cledara does not charge any additional FX fees. Any payment made with a Cledara Mastercard in a currency that is different to your Cledara account will be converted at the Mastercard rate with no markup.



20. I just bought something online and I can see a small charge to my virtual card which is different to what I was expecting to be charged, why is that?

Sometimes merchants charge a small amount to validate a card ahead of the actual payment which is processed in batches throughout the day. The validation transaction is subsequently reversed and the amount of the purchase is charged to the virtual card, usually within a few hours.



21. Can I load my Cledara card in ApplePay, GooglePay?

We are working to enable this soon.



22. Can I get a physical Cledara card?

Virtual cards are a sustainable option for the payments industry. Hence, we are not issuing plastic cards and we will only consider doing so if most of our customers request it.



23. What is the subscription payment limit?

When you want to pay for a new subscription, you set the maximum amount (limit) you want to allow that merchant to take from your card at the set frequency (weekly, monthly, annually). If the limit is exceeded and the payment is declined, you will receive a notification. You can edit the limit at any time, even after using the card, to adjust the limit and the frequency.



24. How do I edit my subscription?

As an admin or the requester of a subscription you can change the payment details of a subscription at any time.



25. What is the difference between admin and team member?

Admin: the authorised person signing up for the service that can transfer funds in and out of the account, view the balance and payment details for all the cards and subscriptions, invite other team members to access Cledara, request and cancel any subscriptions.


Team member: a person invited by the Admin that can view all the subscriptions the company is using, create new ones and manage only those he/she has created.



26. How do I invite team members?

Only Admins can invite team members. On the settings screen, select invite team member, add their email address and an email will be sent to invite them to onboard into Cledara.



27. Can I make one-off purchases?

While Cledara’s main objective is to help you manage subscription type purchases, you can also use the virtual cards for one-off purchases.



28. What happens if I disable my subscription virtual card?

If you disable a subscription virtual card, the merchant will no longer be able to take the payment for that subscription via the Cledara virtual card.


Please note that cancelling the Cledara virtual card associated with a subscription does not exempt you from the obligations/liabilities that you might have entered with the subscription provider when you signed up for the service.



29. What is the difference between Total balance, Available balance, and Committed balance?

Total balance: the sum of the available balance and the committed balance

Available balance: the non-committed balance in your Cledara account

Committed balance: the balance committed to existing subscriptions/ virtual cards



30. What happens if my subscription costs more than the payment limit?

If the subscription cost more than the payment limit the payment will be declined. If you are the admin or the requester of the subscription you can edit the limit.



31. When do I have to put more money in my Cledara account?

When the upcoming payments are higher than your total balance, you should transfer money in to your Cledara account to avoid any declined payments.



32. What happens if there is not enough money in my Cledara account?

If there in not enough money in your Cledara account some of your scheduled upcoming payments may be declined.



33. What currencies does Cledara support?

For UK businesses we open a GBP account.

For European businesses we open an EUR account.

Soon we will support different currency accounts (EUR/GBP/USD)

The virtual cards can be used to make payments in any currency.



34. How is Cledara regulated?

Cledara Limited is Registered in UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806).

Cledara Limited works with PayrNet Ltd, registered in UK (09883437). PayrNet Ltd. is authorised by the UK Financial Conduct Authority (900594).


The Cledara Virtual Debit Mastercard® is issued by Cornercard UK Limited pursuant to license by Mastercard International. Cornercard UK Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900186)


Cledara Limited is Registered in UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806).

Cledara Limited is powered by PayrNet Ltd, registered in UK (09883437). PayrNet Ltd. is authorised by the UK Financial Conduct Authority (900594).

The Cledara Virtual Debit Mastercard® is issued by Cornercard UK Limited pursuant to license by Mastercard International. Cornercard UK Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900186)