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
You will receive settlements (pay-outs by the acquirer
to your bank account) on a weekly basis. These settlements
will be wired every Thursday. Please note that it
can take several days before international wires are
credited to your account. Each following Monday you
will receive a “Reconciliation Statement”
via email, informing you about the total sum that
is wired to your bank account. The acquirer automatically
deducts the discount fee (and if applicable, any chargeback
and/or refund fees) from your total transaction amount.
All other fees will be separately invoiced by us.
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 Thursday using a 30 day calendar month.
| Example
week 1 |
| Payment
taken by you: |
Payment
sent to designated bank: |
| Monday 1st |
Thursday 11th |
| Tuesday 2nd |
Thursday 11th |
| Wednesday 3rd |
Thursday 11th |
| Thursday 4th |
Thursday 18th |
| Friday 5th |
Thursday 18th |
| Saturday 6th |
Thursday 18th |
| Sunday 7th |
Thursday 18th |
| Example
week 2 |
| Payment taken
by you: |
Payment sent to
designated bank: |
| Monday 8th |
Thursday 18th |
| Tuesday 9th |
Thursday 18th |
| Wednesday 10th |
Thursday 25th |
| Thursday 11th |
Thursday 25th |
| Friday 12th |
Thursday 25th |
| Sunday 13th |
Thursday 25th |
| Sunday 14th |
Thursday 25th |
| Example
week 3 |
| Payment taken
by you: |
Payment sent to
designated bank: |
Monday 15th |
Thursday 25th |
Tuesday 16th |
Thursday 25th |
Wednesday 17th |
Thursday 2nd |
Thursday 18th |
Thursday 2nd |
Friday 19th |
Thursday 2nd |
Saturday 20th |
Thursday 2nd |
Sunday 21st |
Thursday 2nd |
| Example
week 4 |
| Payment taken
by you: |
Payment sent to
designated bank: |
Monday 22nd |
Thursday 2nd |
Tuesday 23rd |
Thursday 2nd |
Wednesday 24th |
Thursday 9th |
Thursday 25th |
Thursday 9th |
Friday 26th |
Thursday 9th |
Saturday 27th |
Thursday 9th |
Sunday 28th |
Thursday 9th |
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 Thursday then remitted the following Thursday.
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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