When a transaction is processed through your account, it must be sent for settlement for the funds to be credited into your account.
Settlement is the process that is carried out between us and the banks that will move the funds from your shoppers account into your own.
When does settlement happen?
At the end of each day (roughly midnight) all transactions processed through your account for the previous day are collected into a batch. This batch is then sent to your bank for settlement.
What is a batch?
A batch is a collection of all of your transactions for any given day. The batch is a total of all of your transactions that have been settled.
Only successfully settled transactions will be given a batch number. Transactions that have not settled will not be part of a batch.
How do I check my settlement?
If you want to see your settlement totals you can by logging into your mysagepay account and selecting the transactions tab, followed by settlement.
You will then be given a list of your settlement totals by batch number.
If you want to see the transactions that are included in each batch, just click on the batch number to be shown the breakdown.
When do I receive my money?
It all depends, after settlement has taken place the funds are moved from your shopper’s accounts into your merchant account.
They will then need to clear into your business bank account.
The funds normally take 3-5 working days to clear into your account. This is agreed between you and your merchant bank and can vary.
If you have any questions about the time it takes to receive your funds we can only advise you to contact your merchant bank. They will then be able to answer any questions you may have about the time it takes for the funds to clear into your account.