Autogiro (Sweden) Payment Timings
Timings
If you are creating a payment for a customer, with an active authorisation, it will take 8 business days 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, 2 working days before the charge date.
|
Creation deadline |
D-8 at 5 pm (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 pm UK time.
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 6 business days later. The payment is then collected from the customer 2 business days after it is submitted, 8 business days after it has been created.
It is then paid out and received into your bank account 2 business days later (10 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, 2 working days before the charge date.
Please note: 'Created' refers to the creation deadline - the latest day a payment can be created (at 4 pm UK time) to be collected from the customer on the charge date shown in the calendar example above.
Please note: Autogiro payment authorisations are set up in advance. The authorisation has to be set up 8 business days before the customer charge date.
FAQ’s
When will I receive the payment?
Approximately, 10 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.