What is a settlement?
Settlement refers to the deposit of funds accrued on the Online Payments product into your bank account. Note that the settlement will be net of any fees.
How long does settlement take?
Settlement takes 2-3 business days depending on the card scheme (Visa & Mastercard). Your settlement may also be impacted by the reserve requirements you have received by Airwallex. For example T+4 day settlement means that you will receive your funds (less Airwallex fees) into your wallet by Day 4.
For more information about reserves please refer to the following link.
What does settlement look like?
To make it easier for you, Airwallex will settle into your wallet in the different settlement currencies. Please note that we will settle in batches and not on a transaction basis.
How do I access settlement reports?
Airwallex provides you with all the details necessary to understand your settlements. To do so access ‘Wallet’ and you can export settlement reports which include full details on payments, refunds, disputes and fees.
More details on settlement reports can be found here.
What currencies do transactions settle in?
Transactions will settle in a range of currencies depending on a number of factors such as region, payment method and your nominated default settlement currency.
On Visa and Mastercard transactions for Australian merchants, Airwallex provides like-for-like settlement for 7 currencies. This includes AUD, USD, HKD, EUR, GBP, SGD and JPY.
Full details on settlement currencies by payment methods can be found here.