iDEAL Payments in Stripe 2.0

Introduction

iDEAL is a bank debit-based payment method originating from the Netherlands. Presently owned by the EPI (European Payments Initiative), iDEAL is rebranding to Wero and expanding to other European countries.

Contents

• Availability & Eligibility
  • List of eligible banks
• How it works
  • iDEAL Payment & Confirmation
  • Transition to SEPA Credit Transfer

Availability & Eligibility

The following requirements are in place:

1. The company must enable our Stripe 2.0 integration and activate iDEAL from the configuration dialog.

Note: iDEAL will be visible only to eligible members, even when activated.

2. Customers need a bank account with a Dutch bank that supports iDEAL to send payments.

List of eligible banks

• ABN AMRO
• ASN Bank
• bunq
• ING
• Knab
• Rabobank
• RegioBank
• SNS Bank
• Triodos Bank
• Van Lanschot

Note: This list will likely expand over time.

3. Stripe has a list of countries where iDEAL payments are accepted. The most up-to-date information is available here.

How it works

When processed through Stripe, payments are first confirmed through iDEAL. Next, they transition to SEPA (Single Euro Payments Area) credit transfers. Here’s more about the process:

iDEAL Payment & Confirmation

1. Customer Initiates Payment: The customer selects iDEAL as the payment method and chooses their bank from the list of participating banks.

2. Redirection and Authentication: The customer is redirected to their bank’s online banking environment where they securely authorize the payment. 

3. Initial Confirmation: Once the customer authorizes the payment, the bank confirms the transaction to the iDEAL system. The customer is then redirected back to OfficeRnD.

Transition to SEPA Credit Transfer

1. SEPA Credit Transfer: After the iDEAL confirmation, the customer’s bank initiates a SEPA credit transfer to move the funds from the customer's account to the company's account.

2. Settlement: The funds are deposited into the company’s bank account after the SEPA transfer is settled. SEPA transfers typically take 1-2 business days to settle.
   
   Note: Stripe mediates both the iDEAL confirmation and the SEPA settlement, providing a seamless experience.