Bank Account Details

Settlements

Settlement is a process whereby money collected on your behalf is delivered to your Primary Bank Account or other listed account in case of split payment.

Once you receive payments into your SPay account, your funds are automatically settled to you primary account the next business days (T+1 ). You can also settle your funds to other registered bank account other than the primary bank account in case of split payment

Why Settlements Are Flagged

Flagged settlements are settlements that don’t meet disbursement requirements and are therefore withheld. Settlements can be flagged for a good number of reasons. Here are the most common causes of flagged settlements:

1. Incomplete KYC Verification.
2. Temporary lien on your account.
3. No settlement account.
4. Negative settlement amount.
5. Settlements below the threshold.

Add Account

Account can either be primary or non primary. Primary account is the default settlement account and all money collected on your behalf will be settled into this account unless in the case where split is specified in the payment request.

When split is specified in the payment request the split amount will be settled into the split settlement account specified int the request; it could be primary account or non-primary account.

You can only have one primary account and all other account will be non-primary.

Create Non-Primary Account

Create Primary Account

Settlement Accounts