Settlement periods – getting paid
Standard settlement terms
Most customers can enjoy next day settlement, or payment within 1-2 working days.
For example: you take £100 on a Monday, we tally up your sales and authorise payment of the £100 overnight and you receive payment between Tuesday and Thursday.
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†.
†Please check merchant terms and conditions above. Settlement terms may vary. To receive next day settlement, transactions need to be taken before 9pm.