Why Are My Settlement Funds on Hold?

If you've noticed that payments have been successfully processed through your Pay Advantage account but the funds haven't yet reached your nominated bank account, your settlements may be temporarily on hold.

There are several reasons why this can happen, including account verification requirements, payment disputes or outstanding account balances.

This article explains why settlement funds may be held, what this means for your business and what you can do to have your funds released.

Common Reasons Your Settlement Funds May Be on Hold

1. New Account Verification and Security Checks

If you've recently opened a Pay Advantage account, your first few payments may take a little longer than usual to reach your bank account.

This is normal for new accounts, as we may need to complete additional verification and security checks before releasing your first settlements.

These checks help us confirm that your account has been set up correctly and that funds are being transferred securely to the appropriate business bank account.

During this process, you may see successful payments recorded in your Pay Advantage account, even though the funds haven't yet been transferred to your bank.

Once the required checks have been completed and your account is approved for settlements, your cleared funds can be released in accordance with our standard settlement process.

2. Outstanding Verification Documents

In some cases, settlements may be placed on hold 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: Supporting information requested as part of our account review.

If additional documentation is required, our team will generally contact you by email to explain what needs to be provided.

Important: If you've received a request for additional information, please provide the required documents as soon as possible to avoid further delays to your settlements.

3. Recently Updated Bank Account Details

If you've recently changed your nominated settlement bank account in Pay Advantage, your settlements may be temporarily placed on hold while we verify the new account details.

For security reasons, any changes to your settlement bank account require verification before we can release funds to the new account.

This helps us confirm that the updated bank account belongs to your business and ensures your funds are being transferred to the correct account.

What should I do?

If you've recently updated your bank account details:

1. Complete any bank account verification requests sent to you by Pay Advantage.

2. Complete an identity check verification sent to you by Pay Advantage.

3. Allow our team to review and approve the updated bank account details.

Once your new bank account has been successfully verified and approved, your cleared funds can be released in accordance with our standard settlement process.

If you're having difficulty completing the verification, please contact our Support team for assistance.

4. Open Payment Enquiries or Chargebacks

If a customer or their bank disputes a payment, your settlement funds may be temporarily held while the enquiry or chargeback is being reviewed.

In some cases, funds may be held to cover the disputed amount until the matter has been resolved.

What should I do?

If you have an open payment enquiry, you can respond directly through your Pay Advantage account:

1. Log in to your Pay Advantage account.

2. Locate and open the relevant payment enquiry. This will also be sent to you via email.

3. Provide the requested information and upload any supporting documentation.

Depending on the nature of the dispute, supporting documents may include:

• Invoices or payment receipts

• Proof of delivery or services provided

• Signed customer agreements

• Relevant customer correspondence

Providing the requested information promptly can help our team review the enquiry and determine the next steps.

For more information, see our Understanding Chargebacks help article.

5. Negative Account Balance

Your Pay Advantage account may have a negative balance if refunds, chargebacks or outstanding fees exceed the funds currently available in your account.

When this happens, incoming payments may be used to recover the outstanding balance before additional funds can be settled to your nominated bank account.

Is There a Minimum Amount Before Funds Are Settled?

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.

If your funds haven't been settled, this is generally due to payment clearance times, verification requirements, account restrictions or other outstanding adjustments rather than a minimum payout threshold.

Need Assistance?

If your settlement funds are on hold and you're unsure why, our Customer Support team is happy to help.

Phone: 1300 641 310

Email: support@payadvantage.com

Related articles

• Payment Enquiries, Disputes and Chargebacks

• Why Haven't My First Payments Been Settled to My Bank Account?

• What Happens if a Settlement Fails or Is Delayed?

• Why Has Pay Advantage Debited My Business Bank Account?