What is a settlement?
A settlement consists of the process of paying out the funds that you have received in your merchant account, to your bank account.
Which settlement currencies do you support?
Transaction currencies are the currencies that you as a merchant offer your products/services in. Your customers pay for their orders in transaction currencies. With Payrexx, you can accept all the transaction currencies offered by Visa & Mastercard.
Settlement currencies are the currencies you receive your payouts in. We can pay you in CHF and EUR.
Why have multiple settlement currencies?
By having several settlement currencies, you as a merchant can save conversion costs when offering your services in countries which use different currencies than your local one, or a currency different from your settlement currency. Each settlement currency at Payrexx receives a separate merchant account.
When do you pay out my money?
We pay out the money from your merchant account to your bank account depending on the settlement period used. There are 3 settlement periods: daily, weekly and monthly.
Important: For security reasons, you will receive your money at the end of each month during the first three months. In addition, you must expect around three days' bank delay for all settlement periods.
- Daily: The transactions you capture between, for example, Monday 19.00 and Tuesday 19.00, will be settled the following Tuesday.
- Weekly: The transactions you capture between, for example, Monday 19.00 and the following Monday 19.00, will be settled the following Thursday.
- Monthly: The transactions you capture between, for example, the 31st of July 2019 19.00 and the 31st of August 2019 19.00, will be paid out on the 5th of September 2019.
What settlement periods to choose?
By default, all customers have monthly settlements. If you wish to have daily or weekly settlement, for example, due to cash flow or subscription based business model, feel free to contact us through our contact form. We're happy to help you choose the right settlement.