How does the payment flow work?
- All transactions processed using PAYMILL are settled on a weekly, two-weekly or monthly basis by one of our acquiring banks. The first settlement may be delayed depending on your go live day.
- In order to avoid small bank transfers a minimum threshold of 350€ netto is setup for your settlements.
- A negative balanced invoice is generated if during one settlement cycle the volume of your credited(refunds/chargebacks) transactions exceeds the debited ones. Your merchant account will hopefully be rebalanced for the next payout cycle through your future transactions. If you have a negative balance over several settlement cycles our acquiring bank will ask you to wire the funds in order to rebalance your merchant account.
- If a rolling reserve is applied to your transactions, your funds will automatically be settled with one of your weekly settlements after the given period in your contract.
- The percentage transaction fee will automatically be deducted from the transaction volume processed during your settlement cycle, and you will be invoiced for the fixed fee separately. You´ll find your invoices in your Merchant Centre to download.