By default, Buckaroo creates a separate bank account for each merchant. The account holder name of the account is Stichting Derdengelden Buckaroo. An explanation of the impact of this account and where to find the IBAN can be found below.
In addition, Buckaroo also offers the possibility to create an account with the merchant’s name as account holder, for better recognition on the consumer's bank statement. This service is explained on the IBAN Solution Premium page.
Where can I find my Buckaroo IBAN?
The IBAN can be found in the Buckaroo Plaza, by clicking on the merchant name in the menu on the left, and then on "Accounts". Next to "Buckaroo IBAN" is the account number created by Buckaroo.
In this screen you can also find a virtual account. The difference is as follows:
The Buckaroo IBAN is a real account number with actual debits and credits at the bank. This account can be communicated to consumers and will also be visible in their bank account. This account cannot be used for accounting purposes. Buckaroo processes the bank statements from this account and ensures that the funds are reconciled.
The virtual IBAN is a non-existent account that is only used to keep track of the balance on the merchant account. For example, a successful credit card or Bancontact payment does not arrive in the Buckaroo account created for the merchant, but on a general Buckaroo account. These transactions do however need to end up in the merchant's balance so that they will be paid out to the merchant. This is tracked on the virtual account. When processing account statements (such as MT940 or CAMT053) an account number is often required. This is why the virtual account has an IBAN. It can be recognized by the bank code "BUCK". This account can be used for accounting purposes.
What are the consequences of the Buckaroo IBAN?
The Buckaroo IBAN has an impact on a number of processes. These are explained below.
If the merchant has the credit transfer payment method, the account details for the merchant's Buckaroo IBAN will be shown to the consumer. If applicable, the merchant can also put these account details in their own communication (such as in e-mails or on their website) towards consumers.
Incoming transfers that cannot be automatically matched to an open transaction or invoice are assigned to the merchant. The merchant can process these manually from the Buckaroo Payment Analyzer, which can be found in the Plaza under Services -> Payment Analyzer -> Assigned Payments. For each payment, the choice can be made to link it to one or more transactions/invoices, to deposit it to their account using an invoice number of their choice, or to return it to the payer.
If desired, the administrator of the account can assign the additional role "Buckaroo Payment Analyzer" to employees responsible for processing these kinds of incoming payments.
There is also a possibility to have unmatched transfers automatically deposited. Please note that in doing so, the payments are not linked to an existing invoice or transaction. More information on this can be found under Automatic deposit. (Automatic deposit moet een link zijn naar de Engelse automatisch doorstorten pagina: https://support.buckaroo.eu/categories/financial/reconciliation/automatic-deposit)
Refunds that are carried out by means of a bank transfer (think of payment methods such as iDEAL, Credit transfer, SEPA Direct Debit and Giropay), are carried out using the Buckaroo IBAN. This means the consumer sees the money being credited from this account.
The Buckaroo IBAN has no impact on refunds that are not done via bank transfer (think of payment methods such as PayPal, Credit Card and AfterPay).
SEPA Direct Debits
SEPA Direct Debits are carried out using the merchant's Buckaroo IBAN. The consumer sees the money being debited from this account.
There is no impact on the creditor ID and mandate data.