# Receive settlements When Checkout.com captures funds from customers on your behalf, we can transfer the funds for your Checkout Business Account to your bank account as a settlement payout. Alternatively, you can transfer funds that are ready for settlement to a verified [stablecoin wallet](https://www.checkout.com/docs/funds-management/move-funds/transfer-funds-to-wallets.md) in `USDC` or `USDT`. --- ## How it works 1. When Checkout.com captures a payment, the funds enter your [_Pending_](https://www.checkout.com/docs/funds-management/manage-funds/balances.md#Pending_balance) balance. We set a date for when the funds become available, depending on the [funds availability speed](#Fund_availability_speed) of the sub-account's currency. When funds become available, you can settle them or use them for other purposes in your account. 2. Every midnight in your settlement time zone, the payments in your _Pending_ balance that have become available move to your [_Available_](https://www.checkout.com/docs/funds-management/manage-funds/balances.md#Available_balance) balance. 3. When your next settlement is generated, it comprises your existing _Available_ balance and any payments that entered _Available_ at midnight minus any fees. These funds then move from _Available_ to your [_Payable_](https://www.checkout.com/docs/funds-management/manage-funds/balances.md#Payable_balance) balance. 4. The settlement is paid out from _Payable_ to your bank account according to your settlement schedule. > **Information** > > Fees for a payment may be deducted from later settlements when further financial actions occur. --- ## Settlement time zone Your settlement time zone determines when funds that have become available move from your _Pending_ balance to your _Available_ balance. By default, funds are batched for an entire day, from midnight to the following midnight, in UTC. If your settlement time zone is set to UTC, your settlements are generated at 2:00 AM UTC. For all other time zones, settlements are generated at 5:00 AM local time, based on the regional Checkout.com entity you're contracted with. Settlements are then paid out at your configured settlement frequency. If the default setting does not align with the operating and banking hours of your entities across different regions, you can specify different settlement time zones for different entities. This improves reconciliation and liquidity management. The time zones available for each entity depend on its location. To view and manage time zones, see [Update settlement time zone](https://www.checkout.com/docs/funds-management/receive-settlements/manage-settlements.md#Update_settlement_time_zone). --- ## Settlement schedule You can schedule to receive settlements at one of the following frequencies in your preferred time zone: - Daily – Weekdays, excluding non-business days - Weekly – A weekday of your choice, excluding non-business days - Monthly – First or 15th of each month (first or 16th in Japan) - Bimonthly – First and 15th of each month (first and 16th in Japan) If a scheduled settlement falls on a non-business day in your settlement time zone, the funds are paid out on the following business day instead. > **Information** > > You can set different schedules for different sub-accounts in an entity. > > To update your settlement schedule, contact your account manager or [request support](https://dashboard.checkout.com/support/new?topic=case_account_management_and_access&issue=issue_account_changes). --- ## Fund availability speed The availability speed is the period between time of sale and when the funds in your _Pending_ balance become available in your Checkout Business Account. This depends on your region and settlement currency, and may range from a few minutes to a few days. Availability speed is usually represented as T+X, where: - T is the transaction date. - X is the number of business days after the transaction date that the funds become available. For example, a payment is processed on Tuesday and the currency's standard availability speed is T+2. The funds become available on Thursday, and are paid out in your next settlement. If your settlement schedule is: - Daily – The funds are paid out on Thursday. - Weekly on Fridays – The funds are paid out on Friday. ### Standard availability speeds We apply the following default availability speeds: | Standard speed | Applicable currencies | | --- | --- | | T+2 | Mainly domestic currencies for each acquiring country or region: `GBP`, `EUR`, `USD`, `AED`, `HKD`, `SGD`, `AUD`, `NZD`, and `CAD` | | T+3 or above | Mainly international currencies for each acquiring country or region | > **Information** > > Standard availability speeds are indicative and may differ by currency, the Checkout.com entity servicing your account, and your account configuration. > > Speeds may be longer for specific currencies and acquiring regions where the majority of transactions from schemes or payment methods have longer settlement delays. ### Availability dates When you process a payment, Checkout.com sets a future availability date for the funds. Setting the date takes approximately 15 minutes. If funds do not have a date assigned, it may be because they are Issuing refunds or incoming foreign exchange (FX) transfers. ### Available funds When funds become available, all payments processed on that business day are batched and move from _Pending_ to your _Available_ balance shortly after midnight. Payments processed on non-business days are included in the batch on the next business day. To check when specific payments will become available: 1. Search for the payment in either of the following reports for the relevant date range: - [Balance Breakdown Report](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/balance-reports/balance-breakdown-report.md) - [Financial Actions by Date Range Report](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/balance-reports/financial-actions-by-date-range-report.md) 2. Check the _Available On_ field for that payment. This shows the date when the funds become available. ### Balance minimum If you have set a [balance minimum](https://www.checkout.com/docs/funds-management/manage-funds/balances/manage-balances.md#Set_a_balance_minimum), funds above the minimum are paid out to your bank account. If your funds ready for settlement remain below the minimum, we do not generate a settlement. ### Currency holidays A currency holiday is a day when local banks do not convert specific currencies. Currency holidays and non-business days may delay the standard settlement speed, depending on the Checkout.com entity you're contracted with: | Region | Checkout.com entity | Currency holidays | | --- | --- | --- | | Europe | Checkout SAS | Currency holidays are set by the settlement currency. | | United States | Checkout LLC | Currency holidays are set by the settlement currency. | | United Kingdom | Checkout Ltd | Currency holidays are set by the settlement currency. | | All other regions | All other Checkout.com entities | Currency holidays are set by the settlement currency and include local bank holidays. | For example: - A UK bank holiday means settlements in `GBP` are not paid out that day, but settlements in other currencies are. - A Singaporean bank holiday means settlements in `SGD` and any other currencies are not paid out that day. --- ## Settlement fees When Checkout.com pays out a settlement through bank transfer, we charge you a fee based on the: - Checkout.com entity you’re contracted with - Country in which your bank operates - Terms of your contract with us We automatically deduct the fee from the relevant sub-account's _Available_ balance, which means it comes out of your next settlement. --- ## Paused settlements If Checkout.com has risk concerns about your payment processing, we may pause your settlements for a single sub-account, a single entity, or all your entities at the client level. You cannot pause settlement payouts yourself. > **Information** > > While your settlements are paused, you can continue to process payments, but the funds are not paid out. A notification appears in the Dashboard and we contact you as soon as possible. When the concerns are resolved, settlements resume immediately. --- ## Settlement currencies The currencies you can receive settlements in depend on the Checkout.com entity you’re contracted with. For the full list, see [Supported currencies](https://www.checkout.com/docs/funds-management/manage-funds.md#Supported_currencies). --- ## Settlement statuses Settlements can have the following statuses: | Status | Description | | --- | --- | | `Complete` | Checkout.com has approved the settlement for payout. | | `Carried forward` | A settlement is generated but cannot be paid out because your _Available_ balance is:
- Negative
- Zero
- Below your payout threshold

In this case, the _Available_ balance is carried forward to your next settlement.

**Information**: To enable the `Carried forward` status, contact your account manager or [request support](https://dashboard.checkout.com/support/new?topic=case_account_management_and_access&issue=issue_account_changes). | | `Pending` | The settlement is generated and will be included in the upcoming settlement payout. | | `Rejected` | The settlement was canceled, most likely because some information was missing or incorrect. The funds are returned to the sub-account’s _Available_ balance. We then attempt to include these funds in your next settlement. | | `Returned` | Your bank returned the funds to us. The funds are returned to the sub-account’s _Available_ balance. We attempt to include these funds in your next settlement. | --- ## Settlement reports The following reports provide information about your settlements: - [Financial Actions by Payout ID Report](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/settlement-reports/financial-actions-by-payout-id-report.md) – A detailed record of all financial activity associated with a specific settlement - [Payouts Report](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/settlement-reports/payouts-report.md) – An overview of upcoming Bank Payouts, Card Payouts, and settlement payouts within a specified time frame, along with the associated fees - [Settlement Breakdown Report](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/settlement-reports/settlement-breakdown-report.md) – All financial movements that relate to a specific settlement - [Settlement Statement](https://www.checkout.com/docs/funds-management/retrieve-financial-reports/settlement-reports/settlement-statement.md) – An overview of your settlement, including a summary of associated financial activities --- ## Related topics - [Manage settlements](https://www.checkout.com/docs/funds-management/receive-settlements/manage-settlements.md): View your settlements in the Dashboard, and update your schedule, bank details, time zone, and settlement IDs.