FAQ's | SaaS Management | Cledara

Welcome to our FAQ

Here we answer frequently asked questions about Cledara. Please visit this page regularly as we update it as we receive new questions.

Opening a Cledara Account

How do I open a Cledara account?

Opening a Cledara account entails having access to a financial service. If you are authorized to manage payments on your company’s behalf, Cledara requires certain documentation, including:

Rest assured that once you start the signup process, Cledara will guide you through all the documents required, and we are at support@cledara.com to help if any questions arise.

Why do we need this information?

A Cledara account entails having access to a financial service - i.e. a debit card. Just like when you open a business bank account or apply for insurance, Cledara’s process ensures that your experience and that of all our customers is safe, secure and compliant with financial regulations.

I don't have all the documents required to open a Cledara account to hand. What can I do?

We understand that chasing directors and shareholders for copies of personal documents can be challenging at times. If you're having problems collecting the complete set of documents required, email us at support@cledara.com and we will assist you.

What are the transfer limits?

There are no limits on transfers in or out of your Cledara account set by Cledara. Note that individual transfers into Cledara may be limited by the payments systems – for example GBP Faster Payments is limited to GBP 250,000 per transfer.

How long does it take to implement Cledara?

Unlike ERPs and traditional finance software, Cledara is easy to set up and use. On average, each subscription only takes around 2 minutes to create in our system.

And here’s the great part: once set up, Cledara is on autopilot as you scale.

Which terms and conditions apply to me?

The specific terms and conditions that apply to your Cledara account depend on the country or region where you are located.

Cledara operates in more than 30 countries worldwide. As a financial product, we must comply with local regulations in each market. We also work with different financial infrastructure providers across regions.

To ensure we meet all applicable requirements, the terms and conditions for using Cledara may vary based on your location.

You can find the terms and conditions relevant to your account by visiting our terms and conditions page. There, you'll see the different terms listed by country or region.

What are Cledara's procedures for processing data and documents?

At Cledara, we take data privacy and security extremely seriously. We have robust procedures in place for processing customer data and documents to ensure full compliance with all applicable regulations.

Your documents and personal data are processed and retained in strict accordance with our comprehensive Privacy Policy and Data Processing Agreement. We adhere to major data protection laws such as GDPR, CCPA, and regulations related to Anti-Money Laundering and counter-terrorist financing.

The specific processing and retention of your data depends on the nature and purpose for which you have provided it to us. Our Data Processing Agreement outlines these details, so we recommend reviewing it carefully.

To open a Cledara account, you must provide certain documentation to allow us to complete regulatory Know-Your-Customer checks and screening. For this, we use reputable third-party compliance tools and screening against global databases. This fulfills our obligations under financial regulations.

Rest assured, access to your documents and data is strictly limited to only those individuals who require it for legitimate business purposes related to your account and our compliance requirements.

If you have any other questions about our data processing procedures, we encourage you to refer to the Data Processing Agreement or contact our Data Protection Officer at dpo@cledara.com. Transparency and earning your trust are extremely important to us.

Virtual Cards

What is a virtual card?

A virtual card is a debit, credit or prepaid card that is issued (or usable) without having a corresponding plastic card present. A virtual card can be used to purchase goods or services online, just like a regular physical card.

What type of card is a Cledara card?

Cledara provides Visa debit cards to its European customers, meaning you can use your Cledara cards wherever Mastercard is accepted.

Which SaaS vendors accept Cledara’s virtual cards?

You can use Cledara’s virtual cards to pay any SaaS vendor, as our cards are Visa and are accepted everywhere. Cledara will work with any SaaS vendor you choose as we do not rely on software integrations.

Will my Cledara virtual card work in other currencies?

Yes, you can pay with your Cledara Visa Card or Cledara Mastercard wherever Visa or Mastercard are accepted online.

Does Cledara charge any fees for card spending with Cledara?

We do not charge a fee per card transaction. You can make an unlimited number of card transactions with your Cledara card, included in your plan.

Does Cledara charge any FX fees?

Cledara charges a competitive 1.99% FX fees, lower than many financial institutions or fintech providers.

How much does it cost to issue a Cledara virtual card?

The cost of card issuance is already included in your plan.

What are the implications of choosing a monthly versus an annual contract?

With a monthly contract, you pay the regular monthly subscription fee each month. Your contract automatically renews each month unless you cancel at least one day before the renewal date.

An annual contract requires paying the entire year's subscription fees upfront. However, you receive a discount compared to paying month-to-month. Your annual contract is guaranteed at the same price for the whole year.

The only requirement to receive the annual discount is paying the full year's fees upfront. We do not offer monthly or quarterly payment plans for annual contracts.

If you need to change or cancel your contract, you must contact us at least one day before the renewal date. This applies whether you have a monthly or annual contract.

We encourage reviewing your contract terms carefully. This ensures you understand the pricing implications and renewal conditions for monthly versus annual subscriptions.

How do I cancel my account?

To cancel your Cledara account, you have two options:

  1. Self-Service Cancellation: Log into your account and contact us via the real-time chat bot in the bottom corner of the screen. This functionality is available to all Cledara account admins.
  2. Contact Customer Support: Email us at hello@cledara.com to request cancellation of your account. Our support team will assist you through the process.

Once you cancel, you can continue using Cledara until the end date of your current contract period. Before that date, be sure to:

  1. Withdraw any unspent funds from your account (if you're a debit customer)
  2. Repay any outstanding balances (if you're a credit customer)

We want to make the cancellation process as straightforward as possible. Don't hesitate to reach out to our friendly support team if you have any other questions!

Features

Is there a limit to the funds I can have in my Cledara account?

No, there is no limit to how much you can keep in your Cledara account.

Which currencies does Cledara support?

Our customers in the US have accounts denominated in USD. Europe can hold balances with us in GBP and EUR, regardless of where they are based. Nevertheless, virtual cards can be used to make payments in any currency and country.

How does Cledara automatically collect invoices for my SaaS subscriptions?

There are two ways Cledara automatically collects invoices for SaaS subscriptions. This will greatly reduce the time spent chasing people for invoices:

How does the Accounting Integration work?

Cledara currently supports Netsuite, Quickbooks and Xero. Once you define in which account you'd like us to record your expenses, journal entries will be generated automatically in your accounting system. Entries can be sent reconciled or unreconciled, allowing you flexibility in your approval process.

We will be adding new accounting integrations shortly, If your accounting system is not currently supported, please let us know.

Can I still automate the bookkeeping for SaaS if my company doesn’t use Xero?

Certainly. SaaS Invoices will still be matched to their corresponding payment automatically and you’ll be able to export them, as well as the transactions record in CSV format.

Additionally, you can also generate a bank statement of all movements in Cledara by time frame.

Is Cledara compatible with Curve?

Yes, Cledara's virtual cards can be added to Curve cards so that you can spend anywhere you want.

Can I get a physical Cledara card?

As most SaaS is paid for online, Cledara operates exclusively with virtual cards and does not issue plastic cards.

Can I make one-off payments with Cledara’s virtual cards?

Yes. Even though Cledara is specifically built for SaaS, it is possible to make one-off payments with Cledara’s virtual cards.

Security and regulation

Where is my money held and is it safe?

The funds are held by our financial services partners.

For our debit customers in the UK and Europe, your funds are securely held under a ring-fenced segregated Client Account as per the Safeguarding Rules applicable to electronic money issuers in the UK and European Economic Area. These funds are bankruptcy remote from both Cledara and its financial services provider, PayrNet.

Only you are permitted access to your funds. Cledara cannot take any risk with your money. We also can’t lend it out as traditional banks do.

How is Cledara regulated?

The Cledara Group consists of Cledara Inc., a Delaware Corporation and Cledara Limited, registered in the UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806). Cledara Limited is a distributor of Modulr FS Limited, a company registered in England and Wales with company number 09897919, which is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr FS Limited. While Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and the full value safeguarded in line with the Electronic Money Regulations 2011.

Do you have a program to report any vulnerabilities?

Cledara offers the latest technology and processes to keep your data and software payments safe and compliant. To find out how we keep you, your money and your data safe and secure visit our Security Page Should you identify anything you believe to be a vulnerability, please contact us as part of our Vulnerability Disclosure Program at dpo@cledara.com.

How do I make a complaint and how will my complaint be handled?

You can make a complaint with Cledara through any of the following channels:

How will my complaint be handled?

At Cledara, we take all complaints very seriously. Our goal is to resolve complaints promptly, fairly, and consistently. Here are the key steps in our complaint handling process:

  1. Recording: We will record all details of your complaint as soon as we receive it.
  2. First Contact Resolution: We aim to resolve complaints immediately at the first point of contact if possible.
  3. Acknowledgment: If not resolved instantly, we will acknowledge receipt of your complaint promptly, typically within 6 business days.
  4. Investigation: An appropriate and independent team member will be assigned to thoroughly investigate your complaint.
  5. Updates: We will keep you updated on the progress of your complaint.
  6. Final Response: We will provide a final response to your complaint within 8 weeks.

Throughout the process, we aim to treat you fairly and work to resolve your complaint satisfactorily.

How does Cledara make service levels transparent?

At Cledara, we are deeply committed to providing an exceptional customer experience. We publicly share key service level metrics on our website. These metrics include:

We update and publish these metrics regularly.

How long does it take to become a Cledara customer?

Once you submit a complete application, in most cases we are able to approve your application within 3 business days. Note that if your application is incomplete or we are unable to retrieve information about your company from public registers, we may ask for additional documentation.

How are my documents stored and processed?

We encrypt and store your documents securely in order to process your application. We may rely on third party service providers to assess the validity of the information and documents you provide. Refer to our Privacy Policy for more information about the use and retention of data.

Cledara Rewards

Is there a limit to the amount of cashback I can earn with Cledara Rewards?

For the first year of your subscription, you can claim rewards on all SaaS expenses up to the price of your subscription, excluding any applicable VAT.

How is the cashback for Cledara rewards calculated?

You earn reward points on your spending with Cledara for the first year of your subscription. One point is earned for every £/€1 spent.

How do I redeem Cledara Rewards points?

The points are available to claim from 30 days after the transaction date, and they will expire after 12 months.