How do settlements work?
Funds received into virtual accounts are settled to your main wallet instantly. For merchant accounts, settlements can be scheduled daily, weekly, or ...
Last updated August 5, 2026
Settlements transfer funds from virtual accounts to your wallet.
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.
- Choose your settlement frequency:
- Instant: Funds available immediately
- Same-day: Settled at 6 PM daily
- Next-day: Settled by 10 AM next day
- Confirm with your PIN.
What happens during settlement
- Funds from virtual accounts are aggregated.
- The settlement amount is calculated (minus fees, if applicable).
- Funds are transferred to your linked bank account.
- You receive a confirmation notification.
Viewing settlements
- Go to Business > Settlements to see all past settlements.
- Filter by date range or settlement type.
- Download statements as CSV or PDF.
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.