Manage settlements
Last updated: April 2, 2025
You can see an overview of your settlements, as well as your settlement bank accounts and schedules in the Dashboard.
You can also update your settlement bank account and time zone to better fit your liquidity and operational needs.
To view the settlements overview, you must have one of the following user roles:
- Administrator
- A custom role with the View and search for settlements permission
- Sign in to the Dashboard.
- Go to Business account > Settlements.
The overview lists the following details for your most recent to oldest settlements:
- Settlement amount – The settlement amount that was paid out to your bank account
- Payout date – The date the settlement was paid out or is scheduled to be paid out
- Status – The settlement status
- Settlement ID – The unique identifier for the settlement, as it appears on your bank statement
- Entity – The entity that the settlement is associated with
To view settlement details, you must have one of the following user roles:
- Administrator
- A custom role with the View settlements details and download the transaction breakdown report permission
To find a specific settlement, search by settlement ID and select it to view the details.
The Settlement details screen lists the following details:
- The settlement amount and status
- The settlement currency, as a three-letter ISO 4217 code – for example,
GBP - The settlement timeline
- The settlement ID
- The entity associated with the settlement
- The settlement payout date when the settlement was paid out or is scheduled to be paid out
The URL for the Settlement details screen also contains the payout ID. This is the unique Checkout.com identifier for the settlement payout, prefixed with pay_.
Settlements can have the following statuses:
| Settlement status | Description |
|---|---|
| Checkout.com has approved the settlement for payout. |
| A settlement is generated but is not eligible for payout because your Available balance is:
In this case, the Available balance is carried forward to your next settlement. NoteTo enable the |
| The settlement is generated and will be included in the upcoming settlement payout. |
| The settlement was canceled, most likely because some information was missing or incorrect. The funds are returned to the Available balance of the relevant sub-account. Checkout.com attempts to include these funds in your next settlement. |
| Your bank returned the funds to Checkout.com. The funds are returned to the Available balance of the relevant sub-account. Checkout.com attempts to include these funds in your next settlement. |
To view your settlement bank account details and settlement schedules, you must have one of the following user roles:
- Administrator
- A custom role with the View bank accounts details settlements are made to permission
- Sign in to the Dashboard.
- Select the Settings menu in the top navigation bar.
- Under Business settings, select Bank settlements.
- Under Bank accounts and settlement schedules, select an entry to view more details.
The Bank accounts and settlement schedule details screen lists the following details:
- Settlement schedule name
- Settlement frequency
- Currency
- Bank name
- Bank country
- Account holder
- Account number or IBAN
- Bank code or SWIFT/BIC
You may see additional details depending on your account type.
Your settlements are paid out to the bank account linked to your entity.
Information
To update a settlement bank account, you must be an authorized or delegated signatory. To add yourself as a signatory or for support with updating bank accounts, contact your Account Manager or [email protected].
To update the bank account linked to your entity:
- Sign in to the Dashboard.
- Select the Settings menu in the top navigation bar.
- Under Business settings, select Bank settlements.
- Under Bank accounts and settlement schedules, select the settlement currency you want to update the bank account for.
- Under Bank account, select Change.
- Add the new bank account details:
- The account holder must match your entity's legal name.
- The bank country must match the country where your entity is registered.
- For proof of bank account, upload bank statements for the existing settlement bank account and the new bank account.
- Select Submit.
Checkout.com contacts your organization's administrators to confirm we received the request to update your bank account.
We then verify the new bank account details, which typically takes five to seven working days. Your settlements continue to be paid out to your existing bank account during this time.
We inform you when the bank account is updated, and settlements start being paid out to the new account.
To update your settlement time zone, you must have the Administrator user role.
- Sign in to the Dashboard.
- Select the Settings menu in the top navigation bar.
- Under Business settings, select Bank settlements.
- On the Bank settlement preferences screen, under Settlement time zone, select the new settlement time zone from the Time zone dropdown.
- Select Save changes.
- In the popup that appears, select Confirm change.
Your time zone is updated immediately and the next settlement is paid out in that time zone. If your settlement time zone is in UTC, settlements are generated at 02:00 UTC. For all other time zones, the settlements are generated at 05:00 based on the regional Checkout.com entity you contract with.
The first settlement you receive in the new time zone may be smaller or larger than expected.
- In regions ahead of UTC (such as Europe or MENA), the first settlement is paid out in less than 24 hours.
- For regions behind UTC (such as the US), the first settlement is paid out after more than 24 hours.
After this, settlements are paid out in local time.
When you update your settlement time zone, some transactions may be missing from or duplicated if the report from the previous period and the report from the current period are in different time zones.
For example, you download a report ending at the end of the day on December 31 in UTC, and another report beginning at the start of the day on January 1 in America/Los_Angeles time zone. Some transactions do not appear in either report.
To reconcile, download reports for the reporting period in both UTC and the updated time zone.
The settlement ID is the unique identifier for a settlement as it appears on your bank statement, which helps identify the sub-account you were paid out from. It is also displayed in the Dashboard overview.
If you have multiple settlements in the same currency from different sub-accounts, you can customize your settlement IDs.
For example, you have multiple stores in the United Kingdom. All funds Checkout.com processes for these stores are settled in GBP. Custom IDs can help you map settlements to each store.
Information
To add or customize settlement IDs, contact your Account Manager or [email protected].