What does 'Insufficient balance' mean?

A balance is insufficient when the merchant's ledger/payout balance is not sufficiently funded to allow settlement to take place. This is often caused by chargebacks/refunds that have been deducted from a merchant's balance just before a settlement is due. It mostly affects merchants whose settlement destination is a bank account. To resolve this, a reconciliation of the merchant's balance will have to be done. It typically takes between 24 and 48 hours to resolve, depending on the transaction volume.

What is the transfer threshold for international settlements?

Transfer threshold is the term used to explain the minimum amount that a merchant should accumulate before due settlement(s) can be remitted to the merchant's account. You can check the thresholds for different currencies here

Can one merchant have 2 accounts?

Yes, a merchant can have two accounts.

Why is my settlement stuck on 'Pending'?

A pending settlement means the settlement has not been reviewed and approved. A settlement will usually display when it is not due for settlement. Where the due date is past and still shows as pending, kindly reach out to the support team immediately.

Why did my settlement fail?

Settlement can fail for several reasons. These reasons can be operational, technical, or an error during sign-up. Please contact support by sending a mail to hi@flutterwavego.com for more information on the failed settlement.

What rate was used in converting my settlement amount? Flutterwave uses a globally accepted benchmark such as Bloomberg or xe.com (with a markup to cover FX liquidity risk). The rate is usually updated daily.

What is the settlement cycle?

The settlement cycle defines when collections by a merchant will be due for settlement. Generally, the settlement cycle for local & international transactions is T+1 and T+5 respectively. However, there are a few exceptions based on certain criteria and agreements with the merchant.

What do I need to do to get settled?

For a new merchant, settlement happens automatically but there might be a need for you to provide certain documents required for verification of your business. This depends on certain factors like your location or type of business.

Why was my settlement flagged?

A settlement can be flagged for various operational, technical, or compliance reasons. You can report a flagged settlement to our Support team.

Can I settle into a domiciliary account? Yes, this is possible. However, you can only receive a settlement in a corporate domiciliary account.

For Nigerian merchants, all transactions originating from a Naira card will be settled in Naira irrespective of the purchase currency, in line with the dollarisation policy in Nigeria.

Can I settle into more than one account?

Yes, this is available to merchants with more than one account. Each account is expected to have its own separate settlement account.

How do I change from balance settlement to bank account settlement and vice versa?

To change where you receive your settlement.

1. Log in to your Flutterwave dashboard

2. Click on "Settings" then click "Business preferences"

3. Under "How do you want to get your earnings?" you can select either your bank account or your payout balance.

How long do refunds take?

Refunds take 3-15 working days to reflect in your bank account.

How long do I have to reply to a chargeback?

Local transactions have a response time of 24 hours while international transactions have a response time of 48 hours. You can read more about the chargeback process here