LEARN HOW PUBLIC HOLIDAYS IMPACT WHEN YOU RECEIVE YOUR PAYOUT
By default, April collects your transaction payments over a period of time and then transfers them to your specified bank account in bulk as a NET settlement.
Transactions are collected between midnight and midnight UTC (10 AM AEST) and are transferred 2 banking days later. Payouts are only made on banking days. This schedule is known as T+2. For more information on Payouts, please see the article here.
There are three ways that public holidays impact your payout schedule
Using the example of MONDAY, JANUARY 1, 2024 we will explain these in further detail.
For reference, the normal T+2 payout schedule for Australia is as below:
1. A payout due on a public holiday will be received on the next business day
As payouts are made only on business days, there will be no payout on a public holiday. Instead, a payout due to be received on the date that there is a public holiday will be received on the next business day.
Example: There will be no payout on 1 January (Monday) since it is a public holiday. The payout due to be received on Monday 01/01 (For transactions on Thursday 28/12) will be received on Tuesday 02/01.
2. Transactions made the day before a public holiday will be received a day later than usual.
Public holidays are not a business day. Since the T+2 is counting business days, a public holiday is not counted in the T+2 timing.
Example: Sales made on Friday 29/12 would be paid out two business days later, i.e. on Wednesday 03/01
3. Transactions made on a public holiday will be paid out with the transactions for the following business day.
Transactions made on non-business days are batched together and paid out with the sales of the following business day. This is why in a normal schedule, Saturday and Sunday's transactions are batched with Monday's and paid out all together on a Wednesday.
Example:
- The next business day after public holiday Monday 01/01 is Tuesday 02/01.
- Transactions made on Tuesday 02/01 will be paid out on Thursday 04/01.
- Therefore, transactions made on Saturday 30/12, Sunday 31/12, Monday 01/01 will all be included in the payout for Tuesday 02/01 which will be received on Thursday 04/01.
More detailed information on the transactions in each payout and their schedule can be found in your merchant dashboard
- You can see your scheduled and accumulating payouts in your Merchant Dashboard in the "Balance" tab
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You can see a list of your payouts and view the transactions within them in your Merchant Dashboard in the "Transfers" tab.
From here, you can also download the .CSV file of your payout.