# Get started Everything you need to know for your first settlement. ## Overview Your PXP account manager configures settlement during onboarding. Once set up, settlements run automatically, with the system handling everything based on your configured settlement cycle. The only manual step you'll need to perform is adding new sites to a settlement profile when they're created. Otherwise, the Card service can't be activated for that site. This guide helps you verify your setup and understand what to expect during your first settlement cycle. If you change bank accounts or if your account is closed or suspended, notify PXP immediately to update your details. Any payouts sent to a closed or suspended account will be delayed and need to be returned by the receiving bank before they can be resent. ## Before you start Before settlement can be enabled, you need to have an active Card service with PXP as acquirer and provide your bank account details. ### Check the Card service 1. In the Unity Portal, go to **Merchant setup > Merchant groups**. 2. In the *Services* tab, check that *Card service* is present. 3. Click **Edit** in the *Card service* row, then **Capability settings**. 4. Check that `PXP Financial` is listed as an acquirer. If you use a different acquirer, you can't use PXP Settlement. Your funds are settled by your acquirer directly. ### Provide your bank account details Your PXP account manager will need: - An IBAN (UK/EU) *or* an account number and sort code (UK only) - A BIC/SWIFT code (required for account number, optional for IBAN) - A bank country (required for account number) - A currency (currently only `GBP` is supported) They'll also confirm your registered business address, primary business location, and Merchant Category Code (MCC), as this information affects settlement routing and cutoff times. ## What PXP configures During onboarding, your account manager sets up: - Your [settlement schedule](/guides/settlement/how-it-works#settlement-cycles): - Settlement cycle (daily, weekly, or monthly) - Settlement timing for daily cycles (T+1, T+2, or T+3) - Settlement model (currently only net settlement is supported - fees are automatically deducted from your settlement) - Your [settlement profile](/guides/settlement/settlement-profiles): - Cutoff time (default: midnight GMT) - Which sites are included (default: all sites) - Bank routing rules - Your [pricing configuration](/guides/settlement/how-it-works#settlement-fees): - Pricing model (currently only blended pricing is supported) - Blended card rate fees - Gateway fees - Your [rolling reserves](/guides/settlement/how-it-works#rolling-reserves), if applicable: - Percentage of funds held - Retention period ## Verify your setup Once settlement is enabled: 1. Log in to the Unity Portal. 2. Check that **Settlement** appears in the left menu. 3. Go to **Settlement** > **Settlement Profiles**. 4. Verify all your sites are listed under **Entities** in the default profile. Every site must be assigned to a settlement profile. You can't activate the Card service for a site until it's assigned to a profile. Note that you can't create sites yourself. Only PXP can create merchant groups, merchants, sites and add services. ### Set up report delivery (optional) Optionally, you can configure whether to receive settlement reports by email or webhook. Learn more in the [Reports guide](/guides/settlement/reports#report-delivery). ## Your first settlement ### What to expect Daily settlement **Day 1:** Transactions accumulate throughout the day. At cutoff (midnight), the daily balance is calculated and an invoice generated. **Day 2:** More transactions accumulate. If thresholds are met, the first clearing payout is created. Automatic screening may occur (one-time security check). **Day 3:** The first funds arrive in your bank account (T+1 timing). Match the amount against the clearing payout report. **Timeline:** The first payout typically occurs within 2-4 days, depending on your T+N model and any official holidays. **If you have rolling reserves:** During the first 30 days (or your configured retention period), reserve balance builds up gradually. Each day a percentage is held from captures, but nothing is released yet. From day 31 onwards, held amounts start being released. For example, with a 5% reserve and £1,000/day captures: - Days 1-30: Receive £950/day (£1,000 minus £50 reserve) - Day 31+: Receive £1,000/day (£50 held, £50 released from 30 days ago) Weekly settlement **Monday-Sunday:** Transactions accumulate throughout the entire week. Daily balances are calculated each day at cutoff. **End of week:** After the Sunday cutoff, the settlement trigger fires. All daily balances from Monday to Sunday are combined into one invoice. **Following days:** The clearing payout is created (if thresholds are met) and sent to your bank. Automatic screening may occur. **Timeline:** The first payout occurs at the end of your first full week, typically within 1-2 business days after week-end. **If you have rolling reserves:** Rolling reserves are calculated daily even with weekly settlement. During the first 30 days (or your configured retention period), reserves build up. Each day's captures have a percentage held, but nothing is released yet. From day 31 onwards, held amounts start being released daily. For example, with a 5% reserve and £7,000/week captures: - Weeks 1-4: Receive approximately £6,650/week (£7,000 minus daily reserves totaling ~£350) - Week 5+: Receive approximately £7,000/week (new reserves held, old reserves released) Monthly settlement **Throughout the month:** Transactions accumulate for the entire calendar month (1st to last day). Daily balances are calculated each day at cutoff. **End of month:** After the last day's cutoff, the settlement trigger fires. All daily balances from the month are combined into one invoice. **Following days:** The clearing payout is created (if thresholds are met) and sent to your bank. Automatic screening may occur. **Timeline:** The first payout occurs at the end of your first full calendar month, typically within 1-2 business days after month-end. **If you have rolling reserves:** Rolling reserves are calculated daily even with monthly settlement. During the first 30 days (or your configured retention period), reserves build up. Each day's captures have a percentage held, but nothing is released yet. From day 31 onwards, held amounts start being released daily. For example, with a 5% reserve and £30,000/month captures: - Month 1: Receive approximately £28,500 (£30,000 minus daily reserves totaling ~£1,500) - Month 2+: Receive approximately £30,000 (new reserves held, old reserves released) ### Monitor your settlement In the *My finances* dashboard, you can see: - Current accruals (today's pending amount) - Settlement profile overview (next settlement date) - Rolling reserves, if applicable - Clearing payouts (payment status) Learn more in the [My finances dashboard guide](/guides/settlement/dashboard). ## Adding new sites When you create a new site, you must manually add it to a settlement profile: 1. Create the site in the Unity Portal. 2. Go to **Settlement** > **Settlement Profiles**. 3. Edit the appropriate profile. 4. Add the new site to **Entities**. 5. Save the profile. You can't activate the Card service for a site until it's assigned to a settlement profile.