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Settlement Process Overview

  1. Collection: Funds are successfully collected from your customers.
  2. Reconciliation: Spotflow meticulously verifies all collected payments to ensure every penny is accounted for (no phantom funds allowed).
  3. Initiation: Once reconciled, the settlement request is initiated (either automatically or by you, depending on your schedule).
  4. Fund Transfer: Spotflow transfers the collected funds to your specified bank account.
  5. Confirmation: You receive a confirmation with the exact amount transferred and the settlement date.

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Settlement Schedule

Spotflow offers flexible options, with funds generally hitting your account in T + 1 days (Transaction day plus one business day) after collection. You can typically choose the settlement cycles you’ll prefer. For better details, contact support@spotflow.one for better details.
Your settlement cycle is dependent on your transaction volume. The higher your transaction volume, the easier it is for us to provide you flexible settlement options. Kindly contact support@spotflow.one for better details.

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Settlement Fees

  • Spotflow charges settlement fees based on the settlement amount, currency, and the original payment method.
  • For detailed information on your specific fee structure, please contact the Spotflow support team at support@spotflow.one.

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Reconciliation & Responsibility

You are responsible for cross-checking the Spotflow settlement reports with your own bank statements.
  • Spotflow provides detailed reports to make this process as painless as possible.
  • Spot a discrepancy? Report it immediately to support@spotflow.one for investigation.

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Additional Considerations

  • Currency Exchange: If you accept multiple currencies, Spotflow handles the conversion during settlement using prevailing exchange rates.
  • Dispute Resolution: We have mechanisms in place to help handle any disputes related to settlements, ensuring a fair process.