What is the meaning of the minimum settlement threshold?
Our minimum threshold is the minimum amount that can be automatically transferred from your Flutterwave account to your bank account. This means that amounts below this cannot be settled unless by special request.
How does this work exactly?
The way it works is this:
- A Nigerian merchant must have at least 100 Naira for settlement to occur,
- A U.S merchant must have $1,000,
- A Kenyan merchant must have KES20, and so on...
The Minimum thresholds for each currency settlement are shown in the table below:
Equivalent of $1,000
Note: this settlement threshold does not apply to Wallet Settlements.
Does a non-U.S merchant who collects USD need to have a minimum of $1,000 to be settled?
No, if a Non-U.S Merchant, collects payments in USD, they don’t need to have up to $1,000 to be settled since they’ll be settled in their local currency. So, if a Kenyan Merchant collects dollar payments, the dollar amount for the Kenyan only needs to be equivalent to or more than the KES minimum threshold (KES 20) to be settled.
Does the USD minimum threshold apply when a non-U.S merchant wants to be settled in USD?
Yes, it does apply. It won’t apply if they choose to be settled in their local currency.
Does the same USD rule above apply to GBP, EUR, ZAR and other currencies?
Yes. The minimum threshold applies for your local currency settlements regardless of what currency you received payment in. The minimum threshold for the currency of your payment only applies when you choose to be settled in the same currency.