Westpac Instant Settlement
You could receive your daily business takings instantly
Same day isn't soon enough for business today. You could receive your daily business takings instantly.
Westpac Instant Settlement gives merchants with a Westpac branded settlement account immediate access to their Westpac EFTPOS takings for the day (excluding UnionPay transactions) from their Westpac issued terminals, provided they settle their EFTPOS machine the same day.
Westpac Instant Settlement benefits
- Immediate access to the money you earn that day [excluding UnionPay transactions] – once in every 24 hours (a block-out period applies)
- Make payments to your suppliers or staff and even make ATM withdrawals on the same day after your EFTPOS takings are settled
- Tracking payments is made easier – amounts will appear in your Westpac business bank account immediately after settlement is performed
- Available across all Westpac’s EFTPOS terminals [Terminals must be settled before 09:30pm (Sydney time)].
Not sure if EFTPOS is right for you?
Things you should know
Westpac instant settlement functionality is not available between 9:30pm and 11:59pm (Sydney time) for all EFTPOS 1 and Presto Smart terminals and is not available between 9:30pm and 11:00pm (Sydney time) for all other terminal types. You can only settle a Westpac issued EFTPOS terminal once within a 24 hour period. Subject to system availability, settlement can take place 7 days a week. Settlement must be to a Westpac business transaction account. Instant settlement functionality is not available on Corporate Online and is only available for Visa, Mastercard and EFTPOS transactions (excludes Dynamic Currency Conversion and UnionPay transactions).
Terms and Conditions apply and are available on request.