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Cut off times for settlements

Here's a reminder of the settlement cut off for next day settlements, with an overview of how our products send the transaction data to the Acquirer for processing. 


Do I need to run a report to send the transactions to the Acquirer for processing?

No, all of our products run automatic batching after every transaction, meaning you don't need to remember to run an end of day report to submit your transactions to the Acquirer for processing. 

For customers with the Verofy® Move product, you can still run a Z report at the end of the day if you need this for your business, but we recommend doing this at 23:59 GMT so it is in line with the settlement cut off period. This makes it much easier for you to reconcile your transactions. Click here for more information on running the end of day report on the Verofy® Move product. 


What is the latest I can transact to receive funds the next working day?

The settlement cut off for Verofy® Move products is currently 23:59 GMT (11:59PM). 

This means any transactions you take on your Verofy® Move up until 23:59 GMT will be processed and paid out the next working day (if you have our Verofy® Faster Settlements service). 


The settlement cut off for vPayment products is currently 22:59 GMT (10:59PM).

This means any transactions you take up until 23:00 GMT will be processed and paid out the next working day (if you have our Verofy® Faster Settlements service). 

The settlement cut off for vPayment products will soon be moving to 23:59 GMT, we'll update you once this is available. 


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