What is Instant Settlement?
Instant Settlement means that your money is available to you immediately your customer makes the payment instead of being available to you the following day as is the case when you select Next Day Settlement.
How can I enable Instant Settlement?
Instant Settlement can be enabled in your dashboard. Click “settings” at the bottom left. In the settings page, click “account settings” and for the “How do you want to get your earnings?” question, select “Instant Settlement.”
Leave in Available Balance - what does this mean?
This instructs Flutterwave to leave money you’ve collected in your dashboard in your available balance.
Auto settle at midnight daily - what does this mean?
This instructs Flutterwave to settle the money in your available balance into your preferred bank account.
What is the difference between Instant Settlement and Next day settlement?
- Instant Settlement - Your money is made available to you as soon as your customer pays.
- Next Day Settlement - Your money is made available to you the following day.
Can I switch back to Next day settlement from Instant Settlement, and vice versa?
Yes, you can switch at any time.
Is there a charge for Instant Settlement?
Yes, there is a standard fee of 45 Naira.
What currencies are supported for Instant Settlement?
At the moment, this feature is only available to Nigerian merchants and only NGN transactions and Nigerian bank accounts are supported.
What is the minimum amount for Instant Settlement?
There’s no minimum amount.
What happens to my settlement if auto settlement fails?
No worries, since the money is immediately sent to your available balance, it technically can’t fail. A failure can only happen if the payment failed.
Will Instant Settlement also work for split payment?
Yes, it works for split payment.