We have selected a list of questions/answers to help you explore the Olky universe.
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- Olky Account
- Olky Pro Account
- RIB
- Card
- EPT
- SDD
- Opinion
- Cheque
- Documents
- Web Banking
- Rates
- Olky
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How long does it take to open an Olky Pro Account?
With IBAN Express, you get your IBAN in a few minutes flat. As soon as you credit the account we have reserved for you with the minimum amount indicated in the email, our customer service contacts you to finalize the process of opening your account.
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Is the Olky Pro Account available to all companies?
Yes, the Olky Pro Account is open to all companies and associations regardless of their form and size, from micro-enterprises to multinationals, wherever they are located in the European Union.
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Can I open an Olky Pro Account if I am banned from banking or registered with the FICP?
Yes, the Olky Pro Account is open to everyone and we do not query bank incident files to accept the opening of your account.
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What documents do I need to open an Olky Pro Account?
The documents we will ask you for depend on your business situation. This is generally the TCR, the statutes, a proof of address, an identity document (sometimes two) and a dated and signed selfie.
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How much does the Olky Pro Account cost?
The monthly subscription to the Olky Pro account is €19,90. For more details, please consult the online fees.
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What are the fees for opening an Olky Pro Account?
The opening of an FR account is free of charge. Opening a LU account costs €500,00.
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Is there a minimum amount to deposit when opening an Olky Pro Account?
The minimum deposit to open an Olky Pro Account is €100,00 for a French territoriality “FR” account or €700,00 for a Luxembourg territoriality “LU” account.
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Is the Bank Details Form nominative?
Yes, your company name appears on your Bank Details and Olky Pro Account.
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How do I fund my Olky Pro Account?
Funding your Olky pro Account is very simple. Like any online account, you can credit it by transfer but also by cashing in the proceeds of your professional activity with the many payment methods made available to you by Olky: bank card in POS by physical or virtual EPT, direct debit (SDD) and using the KYPAY payment instrument.
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How do I cancel my Olky Pro Account?
You can terminate your Olky Pro Account at any time by informing us using the electronic form available on olky.eu. For security reasons, we will ask you for confirmation by registered mail.
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How to get Business debit cards and how many can I ask for?
You can request as many Olky Pro Business cards as you wish, for example for you and your employees or collaborators. Just fill in an online form and electronically sign the T&Cs. You will receive your cards at home within 8 days.
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How does the Business debit card work?
You have control over the management of all the Business debit cards you asked for : you set the available amount per card and you have a statement of transactions for each card. Cardholders to whom you have given a card also have web-banking access allowing them to track their payments and withdrawals.
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I provide services to professionals and individuals. Can I collect my customers on site?
You have a wide choice of collection solutions. The virtual EPT is the most economical since the subscription is free. You can use your phone to cash in by credit card. For more frequent collections, you can choose a fixed, mobile or virtual EPT. As a beneficiary, you can use the KYPAY payment instrument, which gives you unparalleled collection flexibility, if your customer is an OlkyPass holder.
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Can I use my Olky Pro Account to collect my benefits?
We offer a full range of collection options: bank card, distance selling, virtual or physical EPT, direct debits (SDD). Our customer service will advise you on the solutions best suited to your situation.You can also use the KYPAY payment instrument as a beneficiary, which gives you unparalleled collection flexibility, if your customer is an OlkyPass holder.
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I rent apartments. Can I use the Withdrawal Option (SDD) to cash out my tenants?
Yes, this is perfectly possible! All you have to do is create your direct debit mandates via online account access and ask your tenants to sign manually or electronically.
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Does my Olky Pro Account allow me to do e-commerce?
Yes, the Distance Selling (VAD) option has been specially designed for e-commerce sites. You can also offer your customer the use of the KYPAY payment instrument, if he himself is an OlkyPass holder.
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How long does it take to use my Olky Pro Account?
As soon as you receive your IBAN, you can connect to the Olky Pro web-banking using your login and password. You will then be able to manage your customers, suppliers, track your account, and many other useful functions for professionals.
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Why choose an Olky Pro account in the face of competition?
For at least 4 good reasons:
- Savings made: You only subscribe and pay for the options you need. Traditional banks charge companies with expensive packages that may include unnecessary services!- Richness of the offer: No bank or fintech offers such a wide range of services: Business cards, virtual, fixed, mobile EPT, SDD direct debits, money order, electronic signature, identification of your customers by KYC (OlkyPass service), access to your wallet (OlkyWallet service), tool for managing your cash in euros and cryptos, and securing your deferred collections thanks to the KYPAY payment tool.- Speed and simplicity: IBAN provided in a few minutes, quick and easy options subscription, no waste of time explaining your needs and your situation to a multi-customer account manager!- Web-banking: designed for professionals and allowing you to follow your customers and your suppliers: history of payments, collections, follow-up of unpaid bills, management of paper and electronic mandates, KYPAY payment instrument. -
Why negative reviews on Trustpilot?
Thousands of companies use the Olky Pro account for their business activities, most of them with satisfaction. But some have tried to open an Olky Pro account for illegal or reprehensible transactions. In these particular circumstances, we are obliged to request proof of transactions and refuse to execute them when they breach the law. The affected customers who do not accept these decisions are usually the authors of these negative opinions.
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Can I cash or issue cheques with the Olky Pro Account?
The cheque is nowadays an obsolete and insecure means of payment, often refused by merchants and administrations. Olkypay is not a check issuer and does not offer their collection but proposes modern and secure alternative solutions : Virtual EPT, SDD, KYPAY payment instrument.
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Why opening my account is taking longer than expected?
The time it takes to open an account depends on several factors: the complexity of the business structure to be identified (our legal obligations require us to analyse in depth the entire business structure of a group in order to identify the beneficial owner), the time required for the prospect to submit the requested documents/information and the time required to verify these documents.
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How do I change my email address or telephone number when I own several companies?
In order to update your phone number, please provide the following documents to our customer support:
- Copy of the last invoice for the phone line concerned;
- A selfie: a good quality photo of you, holding your identity document in your hand, as well as a handwritten note which reads 'Request to change telephone number (or email address, as the case may be) + IBAN of the Olky Account Pro + today's date + last name + first name + signature'.
We do realize this takes up some of your time, but it helps keep your account secure. -
I can't connect to my Web Banking, what should I do?
To connect to your Web Banking, you have to key-in a 6-digit security code downloaded on your smartphone via the Google Authenticator application. This 6-digit code is renewed every 30 seconds and must be entered each time you connect to Web Banking. Moreover, a secret key has been communicated to you. In the event you change or lose your Smartphone, this key allows you to link your new Smartphone to your web-banking access. To do this, go to the Google Authenticator application, press '+', then 'configuration key entry' to enter your secret key. In all cases, do not hesitate to consult our Web Banking user manual.
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I lost my OTP code, what should I do?
To connect to your Web Banking, you have to key-in a 6-digit security code by downloading the Google Authenticator application on your smartphone. If unfortunately you are no longer able to access it, please contact our customer support by sending your selfie: a good quality photo of you, holding your identity document in your hand, as well as a handwritten note which reads 'Request for renewal secret code + IBAN of the Olky Pro Account + current date + name + first name + signature'.
We do realize this takes up some of your time, but it helps keep your account secure. -
How to configure 3D Secure?
To meet the security requirements imposed by the Second Directive on Payment Services (PSD2), the authentication of your online payments made with your Mastercard card has evolved.
Indeed, simple authentication by sending a code via SMS does not meet the double authentication criteria.
From now on, your online payments must be authenticated by sending a one-time code by SMS and entering a password.
To do this, you must register your card on the 3D Secure registration portal: https://olkypay.portal.worldline-solutions.com/olkypay/ -
I have already registered on the 3D Secure portal, but I forgot my password. What do I do?
In this case, please contact our customer support with a selfie of you attached, holding your ID / passport in your hand + an handwritten note 'For Olky, request 3DS reset + date + signature' so that we can reset the registration of your card on the 3D Secure portal.
We do realize this takes up some of your time, but it helps keep your account secure. -
Why can't I make Instant Payment?
For instant payment to be effective, you must verify that the beneficiary's bank accepts instant transfers and that there are no errors in entering the beneficiary's data. Please note that this service is only available in the SEPA zone.
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Why is my bank card refused during payments?
Your bank card may be refused for several reasons:
- Transactions are in progress on your card account following recent purchases, therefore the actual balance does not match the balance displayed
- Your payment or withdrawal limit has been exceeded
- The 3D Secure system has not been activated for online payments on the following site: https://olkypay.portal.worldline-solutions.com/olkypay/ -
Why is the amount not displayed immediately after crediting my card?
First, note that this service is only available on working days.
Second, bear in mind that funds will only be available within 15 minutes after recharging your card account. -
I did not receive the letter containing the one-time use code (3DS), what should I do?
Such letters are sent to the same sending address as the Mastercard. Please make sure that your name appears at this address and regularly check receipt of mail. If the problem persists, contact our customer support.
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Why am I being asked for the same documents several times?
It is true that we may request the same documents several times when the ones received are invalid or of poor quality and therefore cannot be used by our services. In such case, we repeat the request.
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Are there multiple Olky websites?
There is only one OlkyPay website, namely: www.olky.eu. Other sites you might find are scam sites, created by scammers. Always use the official website www.olky.eu to access your Web Banking space via the 'connection' button and be careful about the domain name shown on the site you go to. If in doubt, do not hesitate to contact us directly and only through customer support.
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What is the status of your establishment and how are my funds protected in an Olky Pro Account?
OlkyPay is a Payment Institution approved in Luxembourg supervised by the CSSF with a branch in France authorized to operate under the control of the ACPR. OlkyPay protects its customers' funds, including against its own failure, by ring-fencing them with a European systemic bank. The funds of OlkyPay customers thus benefit from the highest prudential standards for their protection and are covered by the guarantee mechanism managed by the Deposit Guarantee and Resolution Fund (Fonds de Garantie des Dépôts et de Résolution) established by the French Public Authorities, which scope of guarantee and intervention is available at the following address: https://www.garantiedesdepots.fr/en
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Who can open an Olky Account?
The Olky Account is freely accessible to all residents of the European Union for personal use. For professionals, the Olky Pro Account is the suitable choice!
For non-EU residents, account opening fees may apply. Please contact customer support for more details, providing your nationality and country of residence. -
Why an Olky Account?
For the ease of account opening, the majority of operations being free, and the high protection of your money.
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Are there any hidden fees or other charges to consider?
The Olky Personal Account is completely free for regular use.
Beyond €10.000,00 in incoming funds per month, a fee of 0.1% applies to the excess amount.
Transfer fees for received or sent transfers (standard or instant) remain free within the limit of 12 per month.
No charges for rejected direct debits, even due to insufficient funds. Reimbursement requests and disputes are also free of charge.
The card is free provided that one or more payments totaling at least €500.00 are made during the current month to maintain free status. Otherwise, a fee of €2.00 per month is applied.
The first card is sent free by mail upon request once the account balance reaches €500.00.
You may add additional cards to your Olky Account (for children, spouses, etc.). The cost per additional card (up to 5 per account) is €2.00 per month. -
How do I use my account?
Easily manage your account with a mobile app and web-banking to monitor your transactions, make standard or instant transfers, and communicate with Olky support.
You can also manage your cards (set daily, weekly, or monthly limits), deactivate and reactivate them.
Authorizing, rejecting, or getting reimbursements for direct debits is easily done via web-banking without any fees. -
Can I freely use my money?
Banks often impose restrictions to prevent their customers from sending or receiving money under certain circumstances, such as for purchasing cryptocurrency or receiving online gambling winnings. They also impose restrictions on instant transfers, by country, or by setting limits on the amount sent or received.
By principle, OlkyPay does not apply any of these restrictions, subject to the obligations to which it is subject. Olkypay is committed to ensuring its customers can freely use their money, uphold the presumption of innocence, and prohibit any arbitrariness. -
Is the account cancellable at any time?
Yes, you can cancel your Olky Account at any time, simply by contacting us from your connected space. The account is without any time commitment and cancellation is free.