How settlements work
Overview
This guide is designed to help you recognize and understand the funding movements initiated by Aeropay in and out of your business bank account.
The guide below uses some key terminology throughout; please see below for an explanation of each.
Transaction → a funding movement
Deposit → a transaction in which the customer makes a purchase from you and initiates a funding movement from their bank account to yours
Withdrawal (Payout/Redemption) → a funding movement from your bank account to a customer's bank account
Batch → a group of transactions from a single business day that are collected for processing at a set time
Timing & processing
Depending on the type of transactions you create, you can see up to five types of transactions from Aeropay each day in your business bank account.
These five are:
A credit of gross deposits (purchases) from the previous day's transaction batch
A debit of gross withdrawals (payouts) from the previous day's transaction batch
A debit of the gross fees for both deposits and withdrawals
A credit of any failed withdrawals - failed withdrawals can occur 1-3 business days after initiation
An itemized debit for each refund processed in the previous day's transaction batch
Batch windows
Aeropay transactions are batched every business day.
Retail Merchants → batching happens at 3:00 a.m. CST to assist with single-day settlements. Payments made over the weekend are processed on Monday morning, within a batch window from Friday at 3:00 a.m. CST to Monday at 3:00 a.m. CST.*
Gaming Merchants → batching happens at 12:00 p.m. CST. Payments made over the weekend are processed on Monday morning, within a batch window from Friday at 12:00 p.m. CST to Monday at 12:00 a.m. CST.*
*Bank holidays are treated like weekends when the banks are closed
Standard batch
Credit (Deposit) of the combined revenue associated with transactions from the batch. Debit (Withdrawal) of the combined fees associated with transactions from the batch.
*These entries will appear on your bank statement the same calendar day they batch
Refund(s) in the batch
Refunds are withdrawn separately from the rest of the fees that are debited (individual debits in your account for each). Refunds are included in the batch once they are generated (and out of the queue if applicable).
The ‘refund queue’ is applied when the internal status of the transaction being refunded is ‘pending'. Transactions change from ‘pending’ to ‘processed’ the third business day after they were initiated. This is when the refund will generate and arrive in the user’s account the next business day.
*Transactions refunded before they batch are voided where no funds are moved
Using reports to assist with reconciliation
The Aeropay Merchant Portal allows you to generate two types of reports that display data within a customizable date range: Transaction Reports and Batch Reports.
For the purpose of reconciliation, we recommend using the Batch Report to match the credits and debits from Aeropay in your business bank account.
Once you have the report in hand, think of reconciliation of the totals as simple as:
batch report date + 1 business day = date of credit(s) or debit(s) in the business bank account
Please use this guide to understand how to create a transaction or batch report from the Aeropay Merchant Portal.