What are IBANs for Spaces subaccounts?

You can now assign IBANs to your Spaces! You can create up to 10 Spaces with IBANs in total. Spaces with IBANs enable you to:

• Make SEPA transfers directly from your Space
• Use your Space for direct debits
• Receive SEPA transfers to your Space

Note: Incoming SEPA transfers must always be addressed to your name, not the name of the Space.

1. In the home screen, tap Finances
2. Select the Space you want
3. Tap Cards & IBAN
4. Select Add an IBAN

1. In the home screen, tap Finances
2. Tap New Space
3. Tap Bills and payments
4. Give your Space a name and picture
5. Tap Agree and create Space

1. In the home screen, tap Finances
2. Select the Space from which you want to initiate the transfer
3. Tap Send money
4. Select Bank transfer

From here, create a SEPA transfer as usual.

In order to delete the IBAN of your Space it’s necessary to delete the whole Space. It’s not possible to only delete the IBAN. To delete an IBAN assigned Space:

1. In the home screen, tap on Finances
2. Select the Space with an IBAN you wish to delete
3. At the top right corner, tap the cog-icon
4. Tap Empty and delete space
5. Select the Space/main account where your funds will be moved to
6. Tap Delete

• Shared Spaces cannot have IBANs assigned to them.
• IBANs limits: You can assign up to 10 Spaces their own unique IBAN (10 in total, not at a time). Once you've created IBAN assigned Spaces, a 24-hour time limit will prevent you from creating more IBAN assigned Spaces.
• Bouncing direct debits: If you don’t have enough funds to cover a direct debit, the transfer will get rejected and a fee charged to your main account.
• Space IBAN & BIC: You can view each Space’s IBAN, which you can then use to receive credit transfers and pay for your direct debits. To do this simply login to the mobile or web app, go to Finances and select the Space you wish to view the IBAN details of. Open the settings in the top right corner where you can see the IBAN and BIC at the top of the screen.