Frequently Asked Questions (FAQs)
Find answers to frequently asked questions about Razorpay Payment Settlements.
Settlement is the process in which the money received from your customers is settled to your bank account. Settlements for all payments will be done in INR (Indian Rupees), irrespective of the currency in which the payment was made by the customer. Settlement cycle is subject to bank approval and can vary based on your business vertical, risk factor, and so on. Each settlement generated has a unique settlement id attached to it along with the amount settled. Know more about
.Our standard settlement cycle is T+2 working days, T being the date of transaction capture. This means that the captured payments are settled within 2 working days from the date of capture.
Handy Tips
Working days do not include second and fourth Saturdays, Sundays and bank holidays.
Each settlement has a Unique Transaction Reference (UTR) number, which is provided by our banking partners. You can see this number in the settlement section when you click on a particular settlement id. You can also download Settlement Reports from the Reports section to view UTR. This is a unique reference number available across banks, which can be used to track a specific settlement in your bank account.
Razorpay sends emails regarding blocked or failed settlements to your registered email address. Please revert to the email with the necessary details. If you have not received any email from Razorpay, please contact our
for assistance.You can
for the Settlement Reconciliation Report from the Reports section on the Razorpay Dashboard. The report contains transactions and the corresponding settlement ids.Razorpay sends emails regarding blocked or failed settlements to your registered email address. Please revert to the email with the necessary details. If you have not received any email from Razorpay, please contact our
for assistance.By default, the settlement cycle is T+2 days for domestic payment and T+7 days for international payments, where T is the date the payment was captured.
The Instant Settlement feature allows you to settle your current balance to your bank account instantly 24x7 for a small fee. You can either settle your current balance in full or choose to settle a portion of it as per your needs.
Yes. We charge a
to process Instant Settlements.The fees and tax for an Instant Settlement is deducted from the request settlement amount. For example, you place a request for ₹2,000.00. Fees of ₹3.00 and tax of ₹1.00 is deducted from the requested amount and the remaining amount, ₹1,995.00 is settled to your bank account.
We have introduced the limits on Instant Settlements to make the settlement process more predictable for your daily needs. With limits, you can:
- Settle a definite amount from the assigned limit until the next working day.
- Enjoy a quicker and higher success rate throughout the working day.
For any queries,
or your Relationship Manager.No. You can create an Instant Settlement request when you need the money. If you do not create an Instant Settlement, your current balance is settled to your bank account as per your settlement cycle.
Your current balance is settled to your bank account as per your settlement cycle.
No. You will only be charged for the Instant settlements you create. You will not be charged for settlements that happen according to your settlement cycle.
Instant settlements is an on-demand feature. You should
with our support team to get this feature activated on your Razorpay account. Know more about .You can initiate a Smart Settlement if the amount is abover ₹ 5 L. The maximum ceiling is ₹ 50 Cr per settlement.
No, Smart Settlement is a recommended option for amounts > 5 L and < 5 Cr because it settles the amount as one credit in your bank statement. You can still use the Instant Settlement option for this range, but it will appear as multiple entries in your bank statement. However, amounts > 5 Cr are settled through Smart Settlements only. Instant Settlement option is automatically disabled for amounts > 5Cr.
Find out more about
No, Smart Settlement feature is automatically enabled if the Instant Settlement feature is activated for your dashboard. However, Instant Settlement is an on-demand feature.
to get this feature enabled.No, Smart Settlements follow the same fee structure as Instant Settlements. Click to know more about
The fees and taxes for Smart Settlements are deducted from the requested settlement amount. For example, you place a request for ₹2,000.00, fees of ₹3.00 and tax of ₹1.00 is deducted from the requested amount and the remaining amount, ₹1,995.00 is settled to your bank account.
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