Why Haven't My First Payments Been Settled to My Bank Account?
Why a new account's first payments can take longer to settle, and what else can delay a settlement.
Last updated About 3 hours ago
If you've recently opened a Pay Advantage account, you may notice that your first few payments take a little longer than usual to reach your nominated bank account.
This is normal for new accounts and may occur while we complete our initial account verification and security checks.
These checks help us ensure your account is set up correctly and that payments can be settled securely to your business.
Why Are My First Settlements Taking Longer?
When you first begin processing payments through Pay Advantage, your account may be subject to additional verification and security checks before funds can be released.
During this time, you may see successful payments recorded in your Pay Advantage account, even though the funds haven't yet been transferred to your bank account.
Once the necessary checks have been completed and your account is approved for settlements, your funds can be released in accordance with our standard settlement process.
Is There a Minimum Amount Before Funds Are Paid Out?
No. Pay Advantage does not require you to reach a minimum balance before a settlement can be made.
Once your payments have cleared and your account is approved to receive settlements, available funds are included in the applicable settlement run, regardless of the amount.
Other Reasons Your Settlement May Be Delayed
In some cases, your settlements may be delayed because we're still waiting for additional information or documentation to complete your account verification.
This may include:
Identity verification: An outstanding identity check for a business owner, director or authorised representative.
Bank account verification: Confirmation that your nominated settlement account belongs to your business.
Business licences: Copies of any relevant licences or registrations required for your industry.
Additional business documentation: Information or supporting documents requested as part of our account review.
If we require additional information, our team will generally contact you to explain what's needed.
Important: If you've received a request for additional documentation, please provide it as soon as possible to avoid further delays to your settlements.
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