The Settlement cycle is the process of moving funds from your customer’s bank account to yours after a sale. This guide explains the different payout frequencies available at Teya, and how to change them.
Settlement frequency options
Teya offers four options for how often you receive your funds. You can choose the frequency that best suits your cash flow needs.
| Frequency | When you get paid | Cost | Eligibility |
|---|---|---|---|
| Instant | The moment a sale happens. Funds land within seconds in your Teya Business Account. |
+0.2% on your transaction rate | Available if you have a Teya Business Account and your business activity qualifies. |
| Everyday |
Every day, including weekends and bank holidays. Payouts typically arrive between 8 AM and 5 PM. |
+0.1% on your transaction rate | Everyone |
| Business Day |
Monday to Friday (excluding bank holidays). Payouts typically arrive between 8 AM and 5 PM. |
Standard rate (No extra fee) | Everyone |
| Scheduled | Choose when your funds will be settled to best suit your business (3, 7, 15, or 30 days after each sale). Payouts on business days only. | Standard rate (No extra fee) | Everyone |
How to change your Settlement frequency
You can update your payout preference directly in the Teya app and the Business Portal.
On the Teya App:
- Open the Teya app and tap Money in the bottom tab bar.
- Tap Settlements at the top of the screen.
- Select Frequency.
- Select your desired frequency.
- Tap Continue to review the fee adjustment.
- Tap Apply to confirm.
On the Business Portal:
- Open the Business Portal and log in with your credentials.
- In the left sidebar, select Settlements preferences under Settings.
- Select Frequency.
- Select your desired frequency.
- Tap Continue to review the fee adjustment.
- Tap Apply Now to confirm.
New preferences typically become active within 24 hours.