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: 8am Sweep 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-hoc Sweep amount: as specified by the Azupay dashboard user, and cannot exceed the available balance at the time of the sweep

Settlement types

Description

Details

Next day settlement*default

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: 8am

Sweep 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-hoc

Sweep amount: as specified by the Azupay dashboard user, and cannot exceed the available balance at the time of the sweep

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

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

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