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Regular Settlement of Payments Due

DalPay Direct merchants are settled directly by the relevant acquiring bank on a case by case schedule. If you are a sponsored/sub-merchant, please read on.


IMPORTANT NOTE: DalPay is not an e-wallet like PayPal, or Skrill, that issues electronic money, and where funds can be deposited and transferred out at will.

DalPay offers gateway services to direct merchant accounts as well as to sub-merchant accounts (also known as sponsored merchant acounts). We also offer a separate merchant account alternative for online sellers outside the Europe region.

Customers do not have to register for a DalPay account to buy your products and services.

Definitions

DalPay's basic accounting unit for statements is the week. A week runs from Sunday to Sunday (with all of the week's orders up to midnight GMT on the Sunday being included).

The settlement day is the day when your payment is initiated at our bank(s); it is either the first business day of the month (monthly settlement), or every Monday (weekly settlement).

We initiate a bank wire to you automatically on your settlement day, when sales (minus fees and rolling reserve) reach the release level.

Weekly Settlement (sponsored/sub-merchants)

Weekly Calendar Small Thumbnail Internet Merchant Accounts For those on weekly settlement the default release level is USD 500/EUR 400/GBP 300/CAD 500/CHF 500/JPY 50,000/DKK 3,000/SEK 4,000/NOK 3,000/RMB 3,000. You may specify a higher release level. See the payment schedule calendar here.

1. No payments will be sent unless we have received your completed DalPay account profile and supporting documents. Other reasons for a payment delay here.
2. If your processing history, or business plan qualifies you to start on weekly settlement (as accepted by the Risk Department), you will receive settlements on a weekly basis, two weeks in arrears, right from the start.

Payments are initiated at the bank every Monday (or first business day following when there are bank holidays), where the net amount (minus fees and rolling reserve) reaches the release level.

Monthly Settlement (sponsored/sub-merchants)

Monthly Calendar Small Thumbnail Internet Merchant Accounts For those on monthly settlement the default release level is USD 500/EUR 400/GBP 300/CAD 500/CHF 500/JPY 50,000/DKK 3,000/SEK 4,000/NOK 3,000/RMB 3,000. You may specify a higher release level. See the payment schedule calendar here.

1. No payments will be sent unless we have received your completed DalPay account profile and supporting documents. Other reasons for a payment delay here.
2. Lower volume sponsored/sub-merchants may be required to start on monthly settlement, two week in arrears.

Payments are initiated at the bank on the first business day of the month following that period, where the net amount (minus fees and rolling reserve) reaches the release level.


You can request to be moved from monthly settlement to weekly, two weeks in arrears if:

  • You have regular weekly sales above USD 500/EUR 400/GBP 300/CAD 500/CHF 500/JPY 50,000/DKK 3,000/SEK 4,000/NOK 3,000/RMB 3,000*;
  • You have sold with us for at least a month so that our Risk Department can make a risk assessment*;
  • Your monthly chargeback ratio is consistently below 1%, and your monthly refund ratio below 5%;
  • Your business type doesn't require delayed settlement (such as travel related, seminars & conferences, or other high risk business types which do).

(Your account manager will generally make an offer to put you on weekly settlement as soon as you fulfill the criteria above, as confirmed by the Risk Department.)
 

*Please note that businesses selling tangible products may be offered weekly settlement before the above weekly sales thresholds are achieved provided that you have sold for at least a month.

We do appreciate that such businesses in particular must have regular cashflow for rapid growth, and weekly settlements will not be unreasonably withheld. The bank wire fee is charged each time we settle funds.
Internet merchant account for tangible products

 

Bank Wire Fees (per bank transfer/bank wire)

 

Currency Destination Wire fee
EU euro within the EEA region (IBAN) EUR 8
EU euro outside the EEA region (SWIFT) EUR 8
US dollar within the EEA region (IBAN) USD 10
US dollar outside the EEA region (SWIFT) USD 10
UK pound within the EEA region (IBAN) GBP 7
UK pound outside the EEA region (SWIFT) GBP 7
Others within the EEA region (IBAN) EUR 8
Others outside the EEA region (SWIFT) EUR 8


Many banks (even if they have their own SWIFT connection) use correspondent (intermediary) banks to receive bank wires. In that case the correspondent bank may charge a fee of their own that is outside of our banks' control as we send our wires to banks outside the EEA region as SWIFT BEN. Some respondent banks (in the United States for example) also charge a fee for receiving foreign bank wires. See common problems and solutions.

Regular Settlement Bank Wire not Received?

See this section for further explanation and a description of common problems and solutions. We don't like the banks to be holding your money. If you haven't received it, there is a good reason.

DalPay reserves the right to initiate a holdback to cover amounts at risk if sales are irregular, or authorization forms are not received for qualified transactions. See the settlement not received section for further explanation.

DalPay also reserves the right to initiate a holdback if the sales volume on an account drops to zero (or rapidly declines over the week or two weeks of the arrears prior to settlement day) without prior notice to DalPay. See the settlement not received section for further explanation.

Apply for an Internet merchant account today.

Last Updated: July 1st, 2012.