How do settlements work?
Funds from POS and virtual account transactions are aggregated and settled to your linked bank account. Choose instant, same-day, or next-day settleme...
Last updated August 5, 2026
Settlements transfer your business earnings to your bank account.
Settlement process
- Funds from POS transactions and virtual account payments are collected.
- Funds are aggregated in your merchant wallet.
- At the scheduled time, funds are settled to your linked bank account.
Settlement options
| Option | Speed | Fee |
|--------|-------|-----|
| Instant | Immediately | 0.5% |
| Same-day | By 6 PM daily | Free |
| Next-day | By 10 AM next day | Free |
How to set up settlements
- Go to Business > Settings > Settlements.
- Link your bank account (if not already linked).
- Choose your settlement frequency.
- Confirm with your PIN.
Viewing settlements
- Go to Business > Settlements to see all past settlements.
- Filter by date range or settlement type.
- Download statements as CSV or PDF.
Settlement reports
Each settlement report includes:
- Settlement date
- Gross amount (before fees)
- Fees (if applicable)
- Net amount (settled to your bank)
- Transaction count
Tip: Same-day and next-day settlements are free — choose the option that works best for your cash flow.
Need a hand? Email hello@cashmatrix.ng.