Settlement Ledger Floating Balance

A Floating Balance is the amount which we will aim to maintain on your ledger. Its purpose is to help prevent additional debits from your account and dramatically speed up refund response times.

Faster Refunds

Refunds can be issued to your customer once your "cleared" ledger balance covers the refund amount. The ledger balance is increased by payments settling or drawing from your account into your ledger.
When we draw from your account we don't consider this amount in the ledger balance until it has cleared (you can see this amount at the top of your ledger when applicable). Clearing usually takes 3 business/banking days. By maintaining a sufficient float, we can issue refunds immediately to your customers.

Reduced Drawings

A floating balance also helps reduce the number of drawings we attempt from your account due to transactional and account fees. If there is sufficient balance to cover any fees applied to your ledger then we will not attempt to draw from your account.

Staying Afloat

We do not aggressively attempt to maintain the floating balance at all times, rather we take an opportunistic approach. When Settlements increase your ledger balance to more than your desired float, we will only deposit the balance over the float into your account. The other method we use to maintain your float balance is to increase any drawing that is required from your account to achieve the desired float. We will not draw from your account just to achieve your floating balance.