Approving Settlements

Learn how to approve Settlements to payout your sellers.


When Settlements with day-to-day payments and transactions are approved, a Funding Transfer gets created that credits the seller's bank account with their payout.

The grouping of Settlements and when they're available for approval depends on the payout schedule you've configured. Settlements, Entries, and Funding Transfers are available for review and approval via Finix's API and your Finix Dashboard.

  • For Finix Flex customers, Finix manages and approves Settlements.
  • For Finix Core customers, you’ll need to approve and manage your user's Settlements. Your sellers receive funds (or get paid out) when their Settlements are approved.

For example, say one of your sellers has a Settlement that only contains refunds. Once the Settlement is approved, the Funding Transfer will debit funds from the user's bank account.

Creating Settlements

On a Daily schedule, Finix will automatically create Settlements:

  • Monday through Friday on our LITLE_V1 processor.
  • Every day using the VANTIV_V1 processor.

Payment Facilitators (Finix Core) Timelines

If you are a payment facilitator, you will need to approve your user's Settlements by 3:30 PM PST. If a Settlement gets approved after 4:00 PM PST, the Funding Transfer is sent to the merchant the following business day.

Managed Settlement Flow (Finix Flex)

If you are on Flex, Finix will automatically review all Settlements and approve them. Settlements can get delayed if Entries or transactions get flagged for review.

Settlements that require further review get held for risk review. Finix's team will reach out to you via a support ticket if further investigation is needed.

Settlement Schedules

Settlements for Merchants using the LITLE_V1 and VANTIV_V1 processors get completed Monday-Friday with the exception of federal banking holidays.

Finix Core customers must approve Settlements before 7:00 PM Eastern Time (4:00 PM Pacific Time) for sellers to receive next day funding. We recommend approving settlements no later than 6:00 PM Eastern Time to allow time for additional adjustments or review. 

Weekly Settlement Schedule

Weekly LITLE_V1 Schedule

Day of the Week Settlement Approval Day Reconciliation Day
Monday Approve Monday Monday
Tuesday Approve Tuesday Tuesday
Wednesday Approve Wednesday Wednesday
Thursday Approve Thursday Thursday
Friday Approve Friday Friday

Weekly VANTIV_V1 Schedule

Day of the Week Settlement Approval Day Reconciliation Day
Monday Approve previous Saturday Saturday, Sunday, Monday
Tuesday Approve Sunday - Tuesday Tuesday
Wednesday Approve Wednesday Wednesday
Thursday Approve Thursday Thursday
Friday Approve Friday Friday

Federal Banking Holidays

Standard Federal Reserve Bank Holidays:

For holidays falling on Saturday, Federal Reserve Banks and Branches will be open the preceding Friday. For holidays falling on Sunday, all Federal Reserve Banks and Branches will be closed the following Monday. An expanded schedule can be found on the Board of Governors' website (Off-site).

Holiday 2022 2023 2024
New Year's Day Jan 1* Jan 1** Jan 1
Martin Luther King Jr. Day Jan 17 Jan 16 Jan 15
Presidents Day Feb 21 Feb 20 Feb 19
Memorial Day May 30 May 29 May 27
Juneteenth Day June 19** June 19 June 19
Independence Day July 4 July 4 July 4
Labor Day Sep 5 Sep 4 Sep 2
Columbus Day Oct 10 Oct 9 Oct 14
Veterans Day Nov 11 Nov 11* Nov 11
Thanksgiving Day Nov 24 Nov 23 Nov 28
Christmas Day Dec 25** Dec 25 Dec 25
  • * Saturday - the Board of Governors is closed on November 10, 2023.
  • * * Sunday - the Board of Governors is closed on December 26, 2022, and January 2, 2023.
Holiday Settlement Schedules

Thanksgiving: Thursday, November 24, 2022

Merchants using VANTIV processors

Thanksgiving FBO Funded PF Approving Settlements
Thursday, November 24th (Holiday) No No action needed
Friday, November 25th Activities on Wednesday 23rd Approve Thursday 24th Settlements on Finix
Monday, November 28th Activities on Thursday 24th and Friday 25th Approve Friday 25th and Saturday 26th Settlements on Finix
Tuesday, November 29th Activities on Saturday 26th, Sunday 27th, and Monday 28th Approve Sunday 27th to Tuesday 29th Settlements on Finix

Merchants using LITLE processors

Thanksgiving FBO Funded PF Approving Settlements
Thursday, November 24th (Holiday) No No action needed
Friday, November 25th Activities on Wednesday 23rd and Thursday 24th Approve all Litle Settlements on Finix
Monday, November 28th Activities on Friday 25th to Sunday 27th Approve all Litle Settlements on Finix
Tuesday, November 29th Activities on Monday 28th Approve all Litle Settlements on Finix