SEPA (Eurozone) payment timings
Timings
If you are creating a payment for a customer it will take 1 business day before the customer is charged.
Once the customer has been charged, it will take a further 2 business days before the funds are paid out to you and received by your bank.
Please note: The timings are based on the payments being collected as soon as possible. If a payment is created in advance, for example with a specific charge date, then the payment would be submitted automatically, 1 working day before the charge date.
|
Creation Deadline |
D - 1 at 5:30 AM (CET) |
|
Charge date (D) |
Day 0 |
|
Payout received |
D+2 |
*The creation deadline provided is the earliest time on that day before which the payment must be created, to account for variances in daylight savings across time zones. This deadline may fall slightly later during parts of the year due to this and so, for the most accurate creation deadline, we would advise you to refer to our UK creation deadline, which is always 4:30 AM UK time.
International Payments
If you are collecting payments internationally with FX, please allow an extra 2-4 business days to receive your payout.
After a payment is created, it is submitted to the bank for processing the same business day if it is created before the creation cut off. The payment is then collected from the customer 1 business days after it is submitted, 1 working day after it has been created.
If the Direct Debit is set up before 5:30 AM (CET), the payment will be charged 1 business day after it is created.
For instance, creating a payment scheduled to be charged on Wednesday 10th can be done as late as 5:30 am on Tuesday 9th.
If the Direct Debit is set up after 5:30 AM (CET), the payment will be charged 2 business days after it is created.
The payment is then paid out and received into your bank account 2 business days later.
The timings are based on the payments being collected as soon as possible. If a payment is created in advance, for example with a specific charge date, the payment would be submitted automatically, 1 working day before the charge date.
Please note: 'Created' refers to the creation deadline - the latest day a payment can be created (at 4:30 AM UK time) to be collected from the customer on the charge date shown in the calendar example above.
Please note: SEPA payment authorisations are only set up when the first payment is due to be processed. The authorisation is submitted with the first payment.
FAQ’s
When will I receive the payment?
Approximately 3 business days after the payment has been created, if the payment was created before 5:30 AM (CET).
Approximately 4 business days after the payment has been created, if the payment was created after 5:30 AM (CET).
What happens if I miss the daily creation deadline?
The payment process will start on the next business day.
What happens if there is a national public holiday where I am based / where I am collecting a payment from?
Payments are not processed on national public holidays and will move to the next business day. Payouts that are due to be paid out on a national public holiday will move to the next business day.