Settlement occurs when payment received from your customers is made directly into your bank account or Flutterwave payout balance.

Once you receive payments into your Flutterwave account and it appears in your Bollection Balance, your funds are automatically settled to you within 1 - 5 business days, depending on the settlement schedule. You can also manually send funds to your bank account anytime, via transfers.

How to receive settlements in other currencies

As a merchant who receives payments in a different currency outside of your local currency, you may prefer to be settled in that currency. There are 2 options to consider:

As your primary settlement account

Click the ‘Settings’ tab on the dashboard homepage and go to ‘Settlement accounts’. Choose the preferred bank account and make a primary account.

If you don’t already have an account in the preferred currency, reach out to our support team either via chat or email to have it updated.

Settle into Payout Balance (Recommended)

With this settlement option, you don’t have to own bank accounts across various currencies you’re trying to collect from. When you receive payments in other currencies, individual currency balances are created in your Flutterwave account, and you can choose to transfer from these balances to any bank account of your choice. 

When choosing how you want to get paid, pick the “Settle into my payout balance” option on your dashboard.

Here’s how to do that:

• On the Settings menu, click the ‘Business preference’ tab.

• Scroll down and check the “Settle into my payout balance” under the “How do you want to get your earnings?” option.

Additional Information

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