General Enquiries


Settlement Guidelines


All card transactions processed through Yoco are paid directly into your bank account!

You provided the bank details for this account in your Yoco Business Portal.

What must I do to receive my first settlement?


For us to settle your account, you would need to have:

    1. Provided us with your bank details in your Yoco Business Portal.
    2. Provided your Identity Document for FICA.
    3. Transacted a minimum amount of R15.00 in card transactions on your Yoco card machine.

Settlement schedule


Day of Transaction (before 7p.m.) Settlement Initiated (at 5a.m.) Settlement Complete
Monday Tuesday Wednesday
Tuesday Wednesday Thursday
Wednesday Thursday Friday
Thursday Friday Saturday
Friday Saturday Monday
Saturday Monday Tuesday
Sunday Monday Tuesday
Public holiday Next business day 1-2 days later


How long will settlement take?


7p.m. is the end of the banking business day. All of your card transactions, processed in the last 24hours, are added up. At 5a.m. the next business day, your settlement amount is paid out by Yoco. You should receive this amount in 1-2 business days.
 
Any card transactions you process after 7p.m. are considered part of the next day's transactions. These transactions will be included when your total is calculated the next day.
 
Given that Sundays and public holidays are not considered banking business days, the settlement process will only start on the next business day.

 

  IMPORTANT: The date of a ‘Settlement’ refers to the day that Yoco transfers the amount to your bank account and not the day that the amount are is received in your bank account. Please allow 1 to 2 banking business days for settled amounts to reflect in your bank account.

Is there a minimum amount for settlement? 


To receive a settlement, your total card transactions for the day must add up to at least R15.00 (before the deduction of our fees). A fixed fee of R1.73 is charged for credit card transactions below R50. 

How much will I be settled?


Yoco charges one fee per transaction. Rates start at 2.95% (excl VAT) for all new merchants and goes down as your sales go upThe VAT portion of this fee brings the total to 3.3925% (incl VAT). If your business is registered for VAT, you can claim this portion of the fee back from SARS.
 
There is one rate for every card, so debit or credit, the rate is the same! 
 
Here’s an example of how your settlement amount is calculated:

Card Transactions (before 7p.m.) Fee @ 3.39% (incl VAT) Settlement Amount
R100.00 R3.39 R96.61

How can I keep track of my settlements?


You can view all your settlements on both your Yoco Business Portal and Yoco POS app: navigate to Sales and Refunds → Settlements. You will also receive an official invoice once a month, via email, stating all the amounts paid out to you. 
 
Your settlement history is recorded on this page and each row can be clicked on to see a list of the individual card transactions that were included in the settled amount.

 

Settlement_article.png

 

 
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