Upon the successful creation of your Payhawk account, Payhawk automatically issues a free-of-charge, standard virtual card whose sole purpose is to serve for paying any due subscriptions for the Payhawk products and services your company is using.
The initial Payhawk billing card:
Is issued to the first active account administrator when the initial deposit is made available in the system.
Uses the first active balance of your Payhawk account that has available funds in it.
Benefits
The Payhawk billing card is free of charge.
No bank fees for the payment of the subscription are charged.
Invoices paid through the Payhawk billing card are cashback-eligible transactions.
The subscription is collected automatically, immediately after the invoice is issued thus saving your Finance team the manual work of making bank transfers every month.
Specifics of the billing card
You can have only 1 active Payhawk billing card.
You can freeze (block), unfreeze (unblock), set a spend limit, and change the funding source of the Payhawk billing card, but you cannot close or delete it.
Only Payhawk can assign a Payhawk billing card to a user.
Specifics when paying your subscription
If you've set a limit to the Payhawk billing card and it is less than the amount that has to be collected, Payhawk will increase that limit so that the payment can go through.
If you pay your subscription over an external (non-Payhawk) card, Payhawk will issue a billing card and assign it as a backup payment method only if the payment through your external card fails.
If you pay your subscription over a Payhawk non-billing card, Payhawk will issue a new billing card and assign it as a primary payment method only if the payment through your Payhawk non-billing card fails.
It doesn't matter to which user the Payhawk billing card has been issued. The card will be charged on the due date of the subscription all the same.
Reissuing the billing card
If your account has no active billing card and the invoice has not been paid, Payhawk will automatically reissue a billing card to collect the outstanding subscription.
If a billing card is reissued, it will be issued to the user in whose name the previous billing card had been issued if this user is still in the company. Otherwise, Payhawk will issue the new billing card to the first active account administrator.
The reissuing of the billing card happens immediately after the invoice is generated.
Use cases
Here are a couple of examples to demonstrate the behavior your Payhawk billing card will apply in the following use cases.
Example 1
Let's say that Person A has a Payhawk billing card issued in their name.
If on the payment date the funds on the billing card are not sufficient to cover the fee, Payhawk will charge an external card if available.
If the current billing card is frozen or closed, Payhawk will issue a new billing card in the name of the first active account administrator.
If a card limit is set and it's lower than the invoice amount, Payhawk will increase the limit of the billing card.
Example 2
As another example, imagine that Person A has a Payhawk billing card issued in their name but your company decides that the card should be assigned to Person B.
In this case, you'll need to contact the Payhawk Support team over the chat to have the billing card assigned to another person.
As a result, the billing card in the name of Person A will be closed and the new billing card will be issued.