Settlement of Funds

Funds held with Azupay are swept into your settlement account using different patterns. This depends on the settlement type configured for your account. The available options are:

Settlement types	Description	Details
*Next day settlementdefault**	Daily sweep of the net amount of funds in and out of your account between 12am-12am AEST for the previous 24 hour period.Sweep amount is the smaller amount of: Available balance at the time of sweep OR Net amount of previous 24 hour transactions (sum of all incoming credits received during day T minus the sum of all outgoing payments including sweeps)	[day T = date of transactions]Time of sweep: 8am day T+1 AEST (for transactions in previous 24 hour period between 12am to 12am on day T).
Maintain float	Any funds remaining in the float account over your agreed maximum balance will be automatically swept to your account once a day.(Azupay will check the balance of your account at 8am and sweep out excess funds over the agree maximum balance at this time.)	Time of sweep: 8amSweep amount: amount of funds over your agreed balance in your Azupay account (float account.)
Instant settlement	Funds to a specified amount can be instantly settled through the Azupay client dashboard by Finance Admin or Admin users	Time of sweep: ad-hocSweep amount: as specified by the Azupay dashboard user, and cannot exceed the available balance at the time of the sweep

Note: Merchants can receive webhook notifications for automated sweeps and instant settlement sweeps via: SweepRequestEvent (client.sweepNotification)

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Please contact your Azupay representative if you have other settlement requirements not listed above.