When will the money be available in my account?
If A Payment Is Made During Week Days:
Funds will be available in your settlement account on the same business day date the Payer processes the POLi Transaction.
Just when the transactions are visible in either the Payer’s account or the Merchant’s account depends on the individual banks.
Payer’s Generally, banks are speeding up payment processing and Payer’s can usually immediately see the transaction in their account online.
Payee’s (Merchants) If the Merchant’s account is at the same bank (as the Payer’s bank), the Merchant will usually see the transaction immediately in their bank account. If the Merchant’s Bank account is at a different bank the Merchant may see the payment in about an hour in some cases while on the other hand, they may not see the transaction in their account until the following day.
If A Payment Is Made During Weekends and Holidays (non-Business days):
If the Payer processes the transaction on a holiday or weekend (not a business day) the Payer’s transaction and the Merchant settlement transaction will be processed and take place on the next business day. Note: at some banks, the Payer’s transaction may appear immediately in the Payer’s account and in some cases under the actual date of the transaction. If the Merchant’s account is at the same bank, the Merchant may also immediately see the transaction in their account. However, if the Merchant’s bank account is at a different bank to the Payer’s bank account, the Merchant settlement will always take place on the following business day at which time the transaction will become visible.