Reconciliations (formerly known as settlements) payments are triggered from the time an order is approved by Afterpay and is processed. Reconciliation payments will be made based on the reconciliation processing time agreed.
When configured, an email is sent to the email address you have on file for reconciliation, summarizing the total reconciliation payment amount to be paid.
Please note, emails are not sent if there are no amounts due to the Merchant.
If you would like to request certain users to receive these emails, please contact our team by clicking on the envelope.
For US Bank accounts, reconciliation disbursement is made via ACH payment. International bank accounts will be paid via wire. US bank accounts only. ACH processing times vary by bank, (with banks typically taking an additional day or two to deposit the reconciliation into your bank account through ACH). Please note, weekend settlements and national bank holidays may have an additional delay due to bank operating hours and processing times.
Online Channel
Merchant fees + GST are deducted for CA but not the US and reconciled at the time of the order being processed and you will settle against the net amount into your nominated bank account.
If your refunds are greater than your sales, you may not receive a daily settlement, and instead see a negative balance. This means that instead of Afterpay attempting to direct debit your account, we will apply any negative balances against your future orders.
All negative balances will be rolled into future payments unless it goes beyond certain thresholds / limits, giving you more time to offset these, and avoid an ongoing negative balance.
See the ‘negative balance’ example below where if refunds are greater than the daily sales, there will be a negative balance:
Instore Channel
Afterpay Card transactions are settled with you as the gross amount (like any other card transaction would ie Visa/Mastercard) and we will then reconcile and deduct the Merchant fees (plus GST for CA) from your nominated bank account.
We will process settlements and collection of Afterpay Card fees each business day excl. Public Holidays and weekends. Processing times will vary depending on your bank and can be 1-3 business days.