It rarely happens, but it can occur that something goes wrong with your DirectPay, resulting in you not receiving your payment within minutes after confirmation from the client. The 2.9% that you pay when selecting direct payment is charged by the factoring company Finqle, and serves as a guarantee of payment.
As explained in the Terms of Agreement, you transfer all your invoices for current and future clients to the independent factoring company, Finqle UK Ltd. Whilst completing your checkout, you will get 2 options regarding the payment of your invoice. For a fee of 2.9% of the total invoice amount, you will be able to choose for DirectPay and get paid within minutes after the agreement of your checkout. The other option you have is to wait for the client to fulfil the payment of your invoice.
Even though you’ll receive your payment a bit later than expected, Finqle still carries your debtor risk. After all, they are obliged to wait for the payment of the client with the risk of never being paid or later than the deadline. Because of these reasons, unfortunately, you cannot request compensation or refund for the delayed payment of Finqle. Despite your payment being late, you did still receive your money in a shorter timeframe than any other method available.