Settlement
This reference guide describes how Push settles payments to your operational account.
Overview
Settlement of funds begins when a payment is approved and posted to the payment network and ends when the amount of those funds is deposited or withdrawn from your organization’s operational account.
Core Concepts
The Push Cash settlement process is modeled using the following core resources:
- Accounts: A balance of funds held on the platform
- Transactions: A record of change in the balance of funds on the platform
- Transfers: A movement of funds onto or off the platform
Accounts
In order to move money between a user’s account and your operational account, funds are briefly deposited into an intermediate settlement account maintained and managed by Push. To view your available accounts and their balances, make a request to the list-accounts endpoint.
Transactions
Push records transactions to acknowledge receiving funds for approved payment intents from the network. Once a transaction settles, the amount of the transaction will be reflected in the balance of your Push account following the settlement schedule.
Transfers
Transfers are used to move funds between your operational account and the Push settlement account. Each day at 4PM Eastern, Push submits a transfer to your operational account with the net-settlement amount of they day’s settled transaction.
The network operator will settle transfers to your operational account same-day if a processing day falls outside of a weekend or bank holiday. Otherwise, the funds will be settled on the next banking day.
Push Cash submits transfers to the payment network every day of the week, regardless of holidays or weekends.
Settlement Schedule
Push Cash defines a 24 hour settlement window for payment intents submitted between the hours of 4PM Eastern the previous day and 4PM Eastern on each day of processing.
- For any
cash_inpayment intents, the funds will be settled 3 days later (T+3) - For any
cash_outpayment intents, the funds will be settled the next day (T+1)
The following table and diagrams depict the settlement schedule for a payment intent submitted at different times of the day.
| Direction | Submission Time (Eastern) | Settlement Date |
|---|---|---|
cash_in | < 4PM on 2024-09-12 | 2024-09-15 (T+3) |
cash_in | > 4PM on 2024-09-12 | 2024-09-16 (T+3) |
cash_out | < 4PM on 2024-09-12 | 2024-09-13 (T+1) |
cash_out | > 4PM on 2024-09-12 | 2024-09-14 (T+1) |