FAQ - Verse

FAQ

What is Verse?

Verse is a mobile app that enables you to send and request money from anyone instantly.

  • Split your dinner with your friends using Verse.
  • Send money to your friend who’s in a different city using Verse.
  • Short on cash? Verse your friend and they can pass you their cash!
  • You live in the UK but your funds are in Spain? Use Verse to transfer your money from Spain to the UK.

Free? Yes! Add your credit or debit card and your payments are free when there’s no currency change involved. If you collect money, you can transfer it to your bank for free.

What is a Verse Balance?

You can think of your Verse balance like cash in your wallet that your friends have paid you. Any money living in your Verse balance can be used immediately to pay other users in Verse, and can be sent to your bank account.

Requirements for using Verse

There are two main requirements for using Verse:

  1. You must be physically located in Europe.
  2. You must have a European cell phone that can send/receive text messages (please note that this phone number can not be on file with another Verse account)

If you ever want to transfer money from your Verse balance to your bank account (most users do), you need to add a European bank account. If you want to make payments over your Verse balance, you’ll need to add a credit card, or debit card.

I paid the wrong person!

When you send a payment on Verse, the funds are instantly sent. If you sent the payment to someone who has a Verse account, send them a request for an amount equal to your mistaken payment along with a note about why you are sending the request. As soon as they accept the request, the funds will automatically be added back to your Verse balance.

If the other user is not accepting your request, please contact us and we’ll do our best to help you get the situation straightened out.​ Verse Support cannot cancel the payment you made, we can only reverse the payment with permission from both parties.

I paid someone and they never signed up. Do I get my money back?

You can cancel payments sent to email addresses and phone numbers that are not used on current Verse accounts. The funds will return to the original funding source.

If the payment is not collected within 30 days of the payment, the money will automatically return to the original funding source.

How do I send or request money?

When you send money to someone, the money is withdrawn from your funding source and sent to your friend’s Verse balance for them to use.

When you request money from someone, the recipient of the request will be notified and the request will sit in their pending payments feed until they accept or reject the request.

Do I need to add money to Verse to pay someone?

No. Verse works much like a wallet: you can add a card to Verse, then use that card to make payments to your friends. You can add funds to Verse and the funds will sit in your Verse balance (like the cash in your wallet). You can choose to use your Verse balance for payments or you can transfer those funds to your bank account.

How do I add a credit/debit card to Verse?

You can use a debit card or credit card to send money to your friends on Verse, but not to receive it.

Money you receive first goes into your Verse balance. To transfer this balance to your bank you must add your account number to Verse. Adding a debit card or credit card is not the same as adding a bank account.

  1. Go to your Settings page
  2. Navigate to “Credit cards”
  3. Select “Add a New Credit”
  4. Add your card information

Once you add the card, you can set it as your primary funding source in the “Credit Cards” section by selecting “Set as default” and clicking on the desired funding source. This will ensure that the card is set as your default for any payments you send to other users.

Note: When you add a card to Verse, we automatically create a small authorization on it to make sure that it’s valid. If you see this on your bank statement, rest assured that you were not charged for this transaction.

Why was my card charged $0/$1 when I added it to Verse?

Sometimes when people add a card to Verse, they’ll see a small line item on their debit/credit card statement. This is a temporary authorization that we run on your card to confirm that the details you entered are correct. It’s important to note that this is not an actual charge to your card. When we create this authorization, we immediately cancel it so that you can use this money again.

However, there are times where the authorization doesn’t fall off your statement in a couple of days. If you still see a $0.01 authorization from Verse after 5-7 business days (Monday-Friday), please contact your bank and ask them to remove it for you. We already attempt to cancel all of these when we create them, and cannot take further action on our end once we do so.

How do I add a bank account to Verse?

Money you receive first goes into your Verse balance. To transfer this balance to your bank you must add your account number to Verse.

  1. Go to your Settings page
  2. Navigate to “Bank Accounts”
  3. Select “Add a New Bank Account”
  4. Add your Bank Account information

Once you add the bank account, you can set it as your primary withdrawing source in the “Bank Account ” section by selecting “Set as default” and clicking on the desired bank account. This will ensure that the account is set as your default for any transfer from your Verse balance to your bank.

How do I transfer money to my bank account?

When a friend sends you money, it will immediately be available in your Verse balance. In order to send funds to your bank account, you will have to:

  1. Add a bank account
  2. Send funds to your account

If you already have a bank account on Verse, navigate to “Withdraw Funds”.

Can I add a PIN to my account?

If you want to keep your Verse account safe, you can set a PIN code in your account as another layer of security.

iPhone: Once you add a PIN on the iPhone app, it will need to be entered when you log in or open the app. To set your PIN, go to Settings > PIN Code, then choose your 4-digit PIN. Once you do this, you’ll be prompted for your PIN every time you enter the app.

Android: Once you add a PIN in the Android app, you’ll be prompted to enter it every time you complete a transaction. To set your PIN, go to Settings > PIN Code. Once you’re there, choose your PIN Code.

You’ll be prompted to enter the passcode you created every time you make a payment or view your private account information.