Timings
If you are creating a payment for a customer, with an active authorisation, it will take 2 business days before the customer is charged.
Once the customer has been charged, it will take a further 4 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 on the charge date.
|
Creation deadline |
D-2 at 5 pm (NZST) |
|
Charge date (D) |
Day 0 |
|
Payout received |
D+4 |
International Payments
If you are collecting payments internationally with FX, please allow an extra 2-4 business days to receive your payout.
As illustrated above, after a payment is created (in this case on the 9th of the month), it is submitted to the bank for processing 2 business days later. The payment is collected from the customer the same day it’s submitted, 2 working days after it has been created.
It is then paid out and received into your bank account 4 business days later (6 days after creation).
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 on the charge date.
Important:
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'Created' refers to the creation deadline - the latest day a payment can be created (at 5 pm) to be collected from the customer on the charge date shown in the calendar example above.
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BECS NZ payment authorisations are only set up when the first payment is due to be processed. The authorisation is submitted with the first payment.
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In the case of payments with a scheduled charge date falling on a Monday, or Tuesday; following a Monday which is a public holiday, your last opportunity to cancel the payment is 04:00 NZST on the Saturday prior to the charge date.
FAQ’s
When will I receive the payment?
Approximately, 6 business days after the payment has been created.
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 the 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.