Get your money faster with Next Day Settlement.
What is Next Day Settlement?
'Settlement' is when authorised transactions are sent to the acquiring bank for payment to you. This typically takes 3-5 working days.
Next Day Settlement speeds up the delivery of funds from card payments to your bank account to one business day.
What day will funds be deposited into my account?
Your takings will reach your account one business day after your funds have been settled (submitted to the acquiring bank).
Your funds are settled every day at the end of your 24 hour banking window - either 6pm or 3am.
Please contact us if you are unsure what your banking window is.
6pm banking window
Any transactions taken up until 5.59pm will be settled the next working day. For example, transactions taken up to 5.59pm on a Monday will be in your account on Tuesday. Any money taken after 6pm would be classed as the next day’s funds and would be in your account on Wednesday.
This option is typically preferred by businesses that trade during the day (e.g. 8am to 5:30pm).
3am banking window
Any transactions taken up until 2.59am will be settled the next working day. For example, transactions taken from 3am on Monday to 2:59am on Tuesday would be in your account on Wednesday.
This option is typically preferred by businesses who trade during the evening (e.g. 12pm to 11pm) as it avoids split settlement batches for that trading day.
When will I receive my weekend takings?
Funds are not submitted into your account over the weekend.
6pm banking window - you will receive your Friday, Saturday and Sunday takings on Monday.
3am banking window - you will receive your Friday and Saturday takings on Monday and your Sunday takings on Tuesday.
Do I need to run an End of Day report to receive my takings?
You do not need to run an End of Day report on your terminal to receive your takings via Next Day Settlement. Your terminal will automatically batch your takings for settlement at the end of the daily banking window. See more information about banking windows below.
However, End of Day reports are a useful tool for your business. They help when cashing up and will reset your terminal totals to zero - making the next day's reconciling easier.
Who is eligible for Next Day Settlement?
Next Day Settlement is currently only available to eligible customers. Eligibility is determined by account information, including acquiring bank, business type, tenure and turnover.