Settlement
Period - Weekly, 7 Days in Arrears
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Many people just read the settlement as '7 working
days in arrears' and forget it is actually settled
weekly. Therefore please remember that you are paid
once a week and not daily.
How it works
Once each week, all sales that are at least 7 business
days old are paid. The cutoff point is 4:00am British
Time on day of your given remittance (normally the
day your account went live). Sales posted BEFORE
this time will be paid the following week i.e. 7 business
days later. Sales posted AFTER this
time will be paid on the next remittance day following
the last one.
As a guide we have provided examples below of when
payment will be sent depending on the day you took
payment. For this example you are settled (remitted)
every Tuesday using a 30 day calendar month.
| Example
week 1 |
| Payment
taken by you: |
Payment
sent to designated bank: |
| Monday 1st |
Tuesday 9th |
| Tuesday 2nd (before 4am) |
Tuesday 9th |
Tuesday 2nd (after 4am) |
Tuesday 16th |
| Wednesday 3rd |
Tuesday 16th |
| Thursday 4th |
Tuesday 16th |
| Friday 5th |
Tuesday 16th |
| Saturday 6th |
Tuesday 16th |
| Sunday 7th |
Tuesday 16th |
| Example
week 2 |
| Payment taken
by you: |
Payment sent to
designated bank: |
| Monday 8th |
Tuesday 16th |
| Tuesday 9th (before 4am) |
Tuesday 16th |
Tuesday 9th (after 4am) |
Tuesday 23rd |
| Wednesday 10th |
Tuesday 23rd |
| Thursday 11th |
Tuesday 23rd |
| Friday 12th |
Tuesday 23rd |
| Sunday 13th |
Tuesday 23rd |
| Sunday 14th |
Tuesday 23rd |
| Example
week 3 |
| Payment taken
by you: |
Payment sent to
designated bank: |
Monday 15th |
Tuesday 23rd |
Tuesday 16th (before 4am) |
Tuesday 23rd |
Tuesday 16th (after 4am) |
Tuesday 30th |
Wednesday 17th |
Tuesday 30th |
Thursday 18th |
Tuesday 30th |
Friday 19th |
Tuesday 30th |
Saturday 20th |
Tuesday 30th |
Sunday 21st |
Tuesday 30th |
| Example
week 4 |
| Payment taken
by you: |
Payment sent to
designated bank: |
Monday 22nd |
Tuesday 30th |
Tuesday 23rd (before 4am) |
Tuesday 30th |
Tuesday 23rd (after 4am) |
Tuesday 7th |
Wednesday 24th |
Tuesday 7th |
Thursday 25th |
Tuesday 7th |
Friday 26th |
Tuesday 7th |
Saturday 27th |
Tuesday 7th |
Sunday 28th |
Tuesday 7th |
Sales posted to the merchant account appear on your
online account statement the day after the sale was
processed. So a sale processed on Monday will be posted
on Tuesday then remitted the following Tuesday.
Please be aware that your own designated bank may
take a few days to pay you your funds after payment
has been sent. Due to the many different banks it
is impossible for us to specify how long each one
will take.
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