Changes to your daily settlement
Paystation is making changes to how we process online transactions. We are modernising components of the back-end systems that process payments.
We will have contacted you about this change. If you have not been emailed about this yet, you have not been moved to the new system.
Your daily settlement time is now 8pm
As part of these changes, your daily settlement time of 10:30pm will be changing to 8pm. This means that any payments taken after 8pm will be part of the next day’s settlement. On the day you cut over from the old system to the new system you might receive two settlements - one for any transactions up until the time you were moved to the new system, and a second settlement for transactions on the new system. After that you will receive only one settlement per day.
The settlement reference on your statement will be a little different
When your settlement time changes, the reference in your statement will also change. This varies between banks. If you use accounting software that is connected to your bank accounts you will need to update the name of the settlement reference.
In very rare instances some settlements have been delayed. If this happens please contact your bank immediately - Paystation is not involved with settlement of funds in any way.
What about AMEX / American Express transactions?
American Express settlements are separate to Visa and Mastercard settlements from the bank, and work on a separate schedule. If you have any questions regarding an American Express payment which hasn't been settled into your account, please contact American Express Merchant Services directly on firstname.lastname@example.org or 0800 800 855.
I have EFTPOS terminals, is that changing too?
No, this change is only for online payments.
What do I need to do?
We will be coordinating this change with your bank, so you don’t need to do anything. Your transactions will continue to be processed as usual, the only change is to the settlement time and reference.