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Settlement Period - Weekly, 7 Days in Arrears


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.

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

Tuesday 11th

Tuesday 2nd

Tuesday 11th

Tuesday 2nd

Tuesday 11th

Wednesday 3rd

Tuesday 18th

Thursday 4th

Tuesday 18th

Friday 5th

Tuesday 18th

Saturday 6th

Tuesday 18th

Sunday 7th

Tuesday 18th

Example week 2

Payment taken by you:

Payment sent to designated bank:

Monday 8th

Tuesday 18th

Tuesday 9th

Tuesday 18th

Tuesday 9th

Tuesday 25th

Wednesday 10th

Tuesday 25th

Thursday 11th

Tuesday 25th

Friday 12th

Tuesday 25th

Sunday 13th

Tuesday 25th

Sunday 14th

Tuesday 25th

Example week 3

Payment taken by you:

Payment sent to designated bank:

Monday 15th

Tuesday 25th

Tuesday 16th

Tuesday 25th

Tuesday 16th

Tuesday 2nd

Wednesday 17th

Tuesday 2nd

Thursday 18th

Tuesday 2nd

Friday 19th

Tuesday 2nd

Saturday 20th

Tuesday 2nd

Sunday 21st

Tuesday 2nd

Example week 4

Payment taken by you:

Payment sent to designated bank:

Monday 22nd

Tuesday 2nd

Tuesday 23rd

Tuesday 2nd

Tuesday 23rd

Tuesday 9th

Wednesday 24th

Tuesday 9th

Thursday 25th

Tuesday 9th

Friday 26th

Tuesday 9th

Saturday 27th

Tuesday 9th

Sunday 28th

Tuesday 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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