Settlement
When you capture a transaction, the transaction amount deducted our fees are transferred to your account.
For your account you can see two balances (numbers):
- Available
- Total
Available balance
Your available balance is the amount that is due to be settled (transferred) from your Paylike account to your bank account. This amount is your total volume deducted fees and reserve.
Reserve (Total deducted Available)
Your reserve is your total balance deducted your available balance. Read more about how reserves are calculated here.
Settlement period
We settle (transfer) your funds to you weekly on Wednesdays. Some enterprise merchants (having a sales volume of EUR 50,000 or more per month) are eligible to receive more frequent settlements.
Settlement bank and currency
We can settle your funds to any EU bank. To setup your account for settlements, insert your IBAN on the settings page of your live account.
If your Paylike account currency differs from your bank account currency, your bank will convert the funds to the currency of your bank account.
Example
You have the following standard terms for your Paylike account:
Your sales the last 7 days prior to the settlement has been EUR 1,000 / day at 10 transactions per day.
Total volume = 1,000 * 7 = EUR 7,000
Fees = 7,000 * 1.35 % + 10 * 7 * 0.25 = EUR 112
Reserve = 7,000 * 5 % + 2 * 1,000 = EUR 2,350
Available = total volume - fees - reserve = 7,000 - 112 - 2,350 = 4,538
The settlement will then be EUR 4,538
Assuming you have no sales the following week, your available balance for next weeks settlement will be:
Reserve = 7,000 * 5 % = EUR 350
Available = total volume - reserve - last weeks settlement = 7,000 - 350 - 4,538 = EUR 2,112