In general, ForumPay settles funds to merchants on the next business day. Our servers run on GMT so each 24 hour period closes at midnight GMT.
In order to receive a settlement, the merchant balance must exceed 2,000 EUR/USD (this is by default, your threshold may vary). On any day, where at 24:00 GMT your balance due exceeds your threshold, a settlement will be initiated to you the next business day.
Cost and Methods
The is no cost for settlement and ForumPay offers the following settlement methods:
- U.S. Merchants - ACH unless a title/escrow company (wire)
- EU Merchants - SEPA
- Other - SWIFT
- All - Stablecoin to wallet
NOTE: The bank account ForumPay settles to must be in the same name of the entity which was onboarded and approved by ForumPay compliance.
If you have a need to change or update your settlement information, please send an email to [email protected]. This email must come from the email address that was used to register the account with ForumPay.
Viewing Settlement Information
You can access your settlement information at any time by selecting Account>>Settlements from the top navigation of your ForumPay Dashboard
The settlements page will default to the current, open settlement. There will be a left nav on this page where you can choose to review any of your past settlements in detail.
In addition to settlement information, this screen will also show you refund information for any payments that were under, over or late and a refund was issued.
You can click on the Open Report button to see a full list of all payments that were included in the settlement. The report also gives you the option to download and save the report as a CSV file.