On every business day, the previous day's transactions are sent to Lightspeed Payments to begin the settlements process.
As a general rule of thumb, you can expect to see settlements deposited into your bank account 2 business days after the original transaction, but a number of circumstances may affect this timeline.
Here's a quick overview of the process so you can better understand when to expect your funds.
What's In This Guide?
How transactions are sent to Lightspeed | 2 minutes
When will I receive my first payout? | 2 minutes
When will I get paid? | 2 minutes
How transactions are sent to Lightspeed
On a regular business day, the card payments you accept before that day's cutoff time are sent to Lightspeed Payments and the process of transferring funds from your customer's bank account to yours begins.
The cutoff time for transactions in Australia is a full calendar day, so from Midnight to Midnight.
When will I receive my first payout?
Your first payout can take up to 5 business days, this is because once your first settlement has been completed, the payout will go through a series of checks with the banks before the funds can be deposited.
After the first payout has been successful it takes between 24-48 hours from the time the transaction is processed to be deposited in to your bank account
When will I get paid?
Transferring funds will appear in your account on the next Business Day, so if a transaction happens on Tuesday, you can expect to see that money in your account on Wednesday.
Transferring funds does not occur on weekends, so Friday, Saturday & Sunday transactions will be deposited into your account on Monday.
Each North American or Australian public holiday there is the likelihood payment settlement will be offset a day.
The chart below will show a clear visual representation of when you should expect your deposits.
Frequently Asked Questions
What Happens if I have not received my first payout and it has been more than 5 business days?
If you have not received your payout and it has been more than 5 business days, please contact our Payment Resolution Team at firstname.lastname@example.org as there may be an issue with your payment documentation.