Reconciliation

For most payment methods offered by Buckaroo, payment transaction statuses are communicated directly by the bank or third-party payment processor as soon as the customer completes the payment process. Here's an overview of how reconciliation works for different payment methods:

Immediate Payment Methods (e.g., iDEAL)

• Guaranteed Payment: For iDEAL, the bank immediately reports to Buckaroo once the payment process is completed.
• Status Update: Buckaroo changes the transaction status to ‘success’ as soon as the bank confirms the payment.

Delayed Payment Methods (e.g., Transfers, Sofort Banking)

• Delayed Payment: For payment methods where the customer’s payment takes longer, Buckaroo waits until the payment is received.
• Status Update: Once payment is received by Buckaroo or a third-party processor, the payment status is updated to ‘success’.

Collecting Payment Methods

• Stichting Derdengelden Account: All collecting payment methods are processed through the Stichting Derdengelden account (third-party account).
  • Automatic Reconciliation: Once an amount is received, it is automatically linked to the relevant successful transaction.

Handling Unrecognized Payments

• Common Issue: Unrecognized payments typically occur with transfers where the customer must accurately duplicate an amount and reference provided by Buckaroo.
• Manual Reconciliation: If the customer does not duplicate the information correctly, the payment is received but not immediately recognized.
• Special Team: Buckaroo's front office has a dedicated team to manually reconcile these payments and link them to the appropriate transactions.
• Discrepancy Investigation: Any other discrepancies in reconciliation are investigated and remedial actions are taken to ensure proper accounting.

Guarantee of Proper Assignment

• Accountability: Buckaroo guarantees that each amount within the Stichting Derdengelden account is accounted for and properly assigned to the corresponding transactions.
• Remedial Action: Continuous monitoring and action ensure that all funds are correctly reconciled and no amounts are left unaccounted for.