Settlement periods – when do I get paid?

Settlement periods – when do I get paid?

Standard settlement terms

Most customers are on our standard settlement terms, which means it normally takes 2-3 working days from the transaction date for the money to land in your bank account.

For example: you take £100 on Monday, we tally up your sales and authorise payment of the £100 overnight, and the money will arrive in your account by Thursday. 

Deferred settlement

You might be on ‘deferred settlement’, where we hold onto the money from your transactions and release it to you after a pre-agreed number of days.

The number of days is set when you open your account, and is based on factors such as your industry and the way you trade.

We use deferred settlement to create a cash reserve, which can be used if you ever have an outstanding balance on your account. We do this to make sure your account doesn’t build up any debt, particularly in the first year of trading.

After 12 months, if you’re on deferred settlement and want to move to standard settlement terms instead, just let us know and we’ll be happy to review your account.

Next up, we recommend finding out How to read your statement.