Same Day Settlement
Bank of Melbourne Same Day Settlement allows you to access your Bank of Melbourne EFTPOS terminal's settlements on the same day, 7 days a week including weekends and public holidays.
Don't wait until Monday
If your business trades daily, including weekends, don't wait until Monday to receive your weekend EFTPOS settlements. Switch to Bank of Melbourne now to receive your EFTPOS funds on the same day, every day of the year.
What are the benefits of Same Day Settlement?
- Improved cash flow
- Access to funds, 7 days a week - pay suppliers, pay staff or place orders
- Simplify reconciliation – keeping track of payments is made easy as payments will appear in the your account on the same day
- Get a better understanding of your financial position at any time
*Eligibility
Settle your Bank of Melbourne EFTPOS terminal into a Bank of Melbourne business transaction account before 9.30pm -Sydney time. Applies only to Mastercard, Visa and eftpos transactions (plus UnionPay if using EFTPOS Connect).
The Detail
Applications for merchant facilities are subject to approval. Conditions, fees and charges apply.
Bank of Melbourne same day settlement is not available between 9:30pm and 11:59pm (EFTPOS 1 terminals) and between 9:30pm and 11:00pm (EFTPOS Now and EFTPOS Connect terminals) - Sydney time. You can only perform a settlement once a day, before 9:30pm (Sydney time). A settlement done after 11:00pm for EFTPOS Now and EFTPOS Connect terminals and after 11:59pm for EFTPOS 1 terminals, will be processed as a settlement for the next day. Subject to system availability, settlement can take place 7 days a week. Settlement must be to an eligible Bank of Melbourne business transaction account. Same day settlement is only available for Mastercard, Visa and eftpos transactions (plus UnionPay if using EFTPOS Connect).