ClickPesa

Simplyfing payments

Settlement Account

Introduction #

The settlement settings is the location where your company’s bank account is added. The settlement account is the bank account where the collected payments from your customers are/will be settled.

How to add settlement account details #

  1. On the ClickPesa Merchant Dashboard homepage, go to the bottom left corner and click on the Settings tab, select Settlement tab.
  2. Click the “Add Bank Details” button to add the details of the account that you want ClickPesa to settle your funds to once they arrive in your ClickPesa Merchant Dashboard.
  3. After adding your Bank Name, Account Name, Account Number, Account Currency, Swift Code, and Routing Number(Routing number does not apply to some of the banks and countries like Tanzania so you can leave it blank)

    Note: The bank account name needs to be in the name of the registered company. Any other name will not be accepted and the collected funds will not be settled accordingly.
  4. Edit Settlement Account details
    1. On settlement settings page, click edit button to modify any information in your settlement account details.
    2. Once you’ve updated your settlement account details, click the “Save” button to ensure the changes are saved.

Note: Please be aware that ClickPesa will settle the collected payments to the bank account that is added, regardless of the original currency of the payment received. For instance, if you receive a payment in USD, but you have added a TZS account, ClickPesa will settle the funds in TZS.

Tips and Best Practices #

  1. It is recommended to setup general settings before using any of the payment or payout features.

Frequently Asked Questions (FAQ) #

  1. What procedure does Clickpesa follow in case of bounced funds or failed transactions?
    In case of bounced funds or failed transaction ClickPesa will inform you of the reason and the necessary next steps to follow.
  2. How does ClickPesa handle transaction flow collection?
    For collection, the collected payments will be settled the company’s bank account in 2 workings days (T+2).
  3. Can I add my personal bank account as director as a settlement account?
    The bank account name needs to be in the name of the registered company. Any other name will not be accepted and the collected funds will not be settled accordingly.