Get your money faster
Same Day Settlement speeds up the delivery of funds from card payments to your bank account, in just a few hours; compared to the normal 3-5 working days typically provided by card processors.
Imagine the impact of not waiting 3-5 days for your money. This could drastically improve cash flow and allow you to start reinvesting money and energy into your business.
Receive your money fast and grow even faster.
Same Day Settlement explained
Our simple definition
'Settlement' is when authorised transactions are sent to the processor for payment to you (the merchant). This typically takes 3-5 working days.
By comparison, 'Same Day Settlement' means you will receive your funds in just a few hours, hence 'Same Day'.
This will change your business
Perform your End of Day Banking report (also known as a 'batch') within the time frames listed below, to determine the arrival time of your funds:
Batch Time
11.01 pm - 4.00 am
4.01 am - 3.00 pm
3.01 pm - 11 .00 pm
Funds Received
Before 11.00 am start of business
Before 7.00 pm same day
Before 11.00 am next day
①
Accept card
Your customers pay by card
②
Run your End of Day Banking report
Batch your terminal before 3 pm
③
Get paid
Funds go into your bank before 7 pm the same day
Pay suppliers faster
You could be a pub or restaurant that needs to pay your suppliers on a Tuesday, but you're still waiting for your money from card payments until Wednesday.
Getting your funds the same day could strengthen your supplier relationships and remove some financial pressure.
See an instant benefit
★★★★★
Same Day Settlement will keep your money coming in quickly and frequently, removing the typical settlement times provided by most merchant services providers (3-5 days) and delivering your funds in a matter of hours.
FAQs | Same Day Settlement
You can get a card machine with Same Day Settlement as part of your RMS membership, along with:
Competitive rates on card processing
UK-based customer support
Exclusive access to small business funding
Contact us to get a free no obligation quote.
Your funds will be sent via Same Day Settlement when you run your End of Day Banking report (also known as ‘batching’) on your card machine. Note: This is the case for settling funds from card transactions regardless of their settlement time.
Once your account has Same Day Settlement enabled (we can do this for you), there are no extra steps required on your part.
You may find your terminal is set to auto-batching, in which case you will not need to worry about performing this report on a daily basis.
With Same Day Settlement, you will always receive your money in a matter of hours, but the exact time your funds get delivered to your bank account will depend on what time your terminal is batched.
Batch your card machine within the time frames below to receive your funds at the respective times:
Batch Time
11.01 pm - 4.00 am
4.01 am - 3.00 pm
3.01 pm - 11 .00 pm
Funds Received
Before 11.00 am start of business
Before 7.00 pm same day
Before 11.00 am next day
Same Day Settlement will improve cash flow in your business. Receiving your money from card transactions faster, means that you will be able to:
Reinvest in your business with readily-accessible funds; whether it’s new stock, staff intake, promotional material or building renovations.
Reduce stress brought on by financial commitments with time constraints such as paying suppliers, high-interest rates and late payment fees.
Spend less time managing finances and concentrate on growing your business.
For most RMS members, we can simply enable Same Day Settlement on your account. However, there are some exceptions depending on your account type and which acquiring bank you use.
The good news is, if you don’t qualify for Same Day Settlement, you may still be eligible for ‘Next Day Settlement’; which delivers your funds from card payments within 24 hours.
If you’re an existing customer looking to get Same Day Settlement, please contact our Customer Support team.
Some Small Print
*Same Day Settlement, alternatively known as 'Faster Payments', is a product provided by Elavon Financial Services DAC. You may be subject to a monthly fee and/or processing charge for the use of this product, depending on the terms of your RMS membership agreement.
Get your money faster
To get Same Day Settlement, along with some competitive rates on card processing, speak to our team today.
Flexible payment solutions for small businesses