How Can I Activate and Benefit from the 7-Day Settlement Cycle with Teya?
Teya offers a convenient 7-day settlement cycle that allows you to receive payouts every day, including weekends. Below is a guide on how to activate this service, its benefits, associated fees, and troubleshooting tips.
What Is the 7-Day Settlement Cycle?
The 7-day settlement program ensures that payouts are processed every day, including Saturdays and Sundays. This allows you to receive your funds seamlessly throughout the week, providing enhanced cash flow and financial flexibility.
How to Activate the 7-Day Settlement Cycle
To activate the 7-day settlement cycle for your Teya account, follow these steps:
- On your Teya App, access the Settlements section from your Home screen
- Click on Settlement Preference and enable Everyday payout frequency
- Select Continue to review fees
- Click on Apply Now
Fees for the 7-Day Settlement Cycle
Switching to the 7-day settlement cycle comes with a slight fee adjustment:
- This service will see a 0.05% increase in your blended rate fee.
- For example, if the current blended transaction fee is 1.29%, it will increase to 1.34% after activating the Everyday Settlement Frequency.
Troubleshooting Common Issues
If you experience any challenges with activating or receiving the 7-day settlements, please contact Teya Support.
Benefits of the 7-Day Settlement Cycle
- Receive daily payouts, including weekends.
- Improved liquidity and cash flow for your business.
- Seamless integration with Teya payment systems.
Switching to the 7-day settlement cycle is a strategic option for businesses aiming for continuous access to their funds. Ensure you follow the proper activation steps to take full advantage of this service.