How long does it take to settle Contractor payments?

Ben
Ben
  • Updated

 

The amount of time it takes for the payment to be settled in the Contractor’s account depends on the method you use to pay us. See how the below options for general timeframes.

 

Direct debit

 

As soon as you approve the invoice, Oyster will charge your bank account. Settlement and clearing of funds take two to five business days. Once we receive your payment, the Contractor will be paid out the same or next business day. In some currencies, the Contractor will receive payment in seconds and in others it may take up to three business days.

 

Wire transfer


If you are manually sending funds to Oyster, as soon as we receive the funds, the Contractor will be paid out the same or next business day. In some currencies, the Contractor will receive payment in seconds and in others up to three business days. 

 

Note

  • Direct debit is currently live for US (ACH Debit), UK (BACS) and EU (SEPA) customers. We encourage all customers to set up direct debit.