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Receive your daily business takings in an instant

Support your cash flow by accessing business income the same day you receive it.

With Westpac Instant Settlement you can access your Westpac EFTPOS machine takings almost instantly after settlement into your Westpac transaction account once every day by 9.30 pm – meaning you can start using your earnings immediately1.


How does Instant Settlement for EFTPOS work?

  • Available with all Westpac EFTPOS machines (EFTPOS 1, EFTPOS 1i and Presto Smart
  • Applies only to Mastercard, Visa and eftpos transactions (plus UnionPay if using EFTPOS 1i)
  • EFTPOS machines can only be settled once each day (which must occur before 9.30pm Sydney time)    
  • Allows you to pay suppliers and staff and make ATM withdrawals as soon as your EFTPOS takings are settled – subject to funds being available
  • For easy tracking, payment amounts will appear in your Westpac business bank account immediately after settlement.

 

Things you should know
1. Westpac instant settlement functionality is not available between 9:30pm and 11:59pm (EFTPOS 1 and Presto Smart terminals) and between 9:30pm and 11:00pm (EFTPOS 1i terminals) - Sydney time. You can only settle a Westpac issued EFTPOS terminal once each day. 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. Instant Settlement is only available for Mastercard, Visa and eftpos transactions (plus UnionPay if using EFTPOS 1i).