As a Nedbank merchant, settlements are made every day for the previous day. I.e, the net amount from all transactions for the present day will be settled to the merchant’s business bank account the following day.
For example, the amount from payments received from clients less amounts refunded or reversed back to clients on the 4th of March up until midnight will be settled in your business account on March the 5th.
This payment (or deduction if you had more credits than debits for that 24-hour period) will reflect on your statement with the reference Nedlink DP + your merchant number + the batch number.
The batch number is a reference used by Nedbank for a set of transactions that they are settling at the same time.
Therefore, the balance you see on our Peach Portal for a certain day should match the amount settled to your account by Nedbank the following day.
Sometimes this may not be the case. In a few instances, Nedbank will withhold certain transactions due to their internal checks that they perform in an effort to protect their merchants from fraudulent activities.
The withheld transactions will then be settled in a different batch.
Do get in touch with us if you have further questions: support@peachpayments.com