Smartpay settles to your nominated bank account for processing the next day when your settlement window is our standard period (automatically 10.00pm to 10.00pm).
If you require a custom settlement window (one that is different to our standard period and/or one that aligns with your business operating hours, i.e. 4.30am to 4.30am), then settlement will typically be processed to your nominated bank account 2 days post transaction.
Please note there are 11 public holidays that will affect the settlement day and will likely make it a day later to your normal settlement day (regional public holidays are excluded and will settle as per your normal time).
What settlement windows can I pick from?
We recommend that you pick a settlement window that falls after your business is expected to end trading for the day. We have the following settlement windows that you can pick from:
- Standard 10pm – 10pm
Custom settlement windows:
- Red-eye 6am – 6am
- Morning 12pm – 12pm
- Afternoon 6pm – 6pm
- Night 4.30am – 4.30am
Can I change my daily settlement cut off time?
To change your automatic settlement time, please contact our merchant services on 0800 476 278. Just mention that you want to change your automatic settlement time.
Why don’t you have same day settlement?
We will settle to your nominated bank account once we have received all funds from our settlement partners. We will pay your settlement amounts seven days a week, and depending on your settlement window chosen, you will either see your settlement the next day or 2 days post transaction.
How can I choose what settlement time is best for my business?
- Lucy has a florist shop and is open from 7am till 6pm every day of the week. Once her shop closes, she doesn’t take any more payments. The best settlement time for her business is our standard settlement window which means she will have her transactions settled into her bank account the next day. If she transacts on Monday then she will see the money for those transactions in her bank account on Tuesday.
- Brian has a bar and restaurant which is open from 12pm till 2am. As his trading hours are outside our standard settlement window, we would recommend he has a custom settlement time of either 3am or 4am. This will mean Brian will see all his transactions from Saturday 12pm till Sunday 2am will be settled into his account on Tuesday.
- Toko has a fish and chip shop which is open from 12pm till 8pm, seven days a week. As his trading hours are within our standard settlement window, any transactions will be settled into his bank account the next day. So if he is open on Tuesday, his transactions will be in his bank account on Wednesday.
