If you want your contractors to be paid by the end of the month, all contractor invoices must be approved by the 15th.
Direct debit timelineAs soon as you click approve, Oyster will charge your bank account. Settlement and clearing of funds take T+2 (date of charge plus 2 business days). As soon as Oyster receives payment, the contractor will be paid out same or next business day.
In some currencies, payment will be received in seconds and in others up to 3 business days.
Direct debit timelineIf you are sending funds to Oyster, as soon as we receive the funds, contractor will be paid out next business day.There could be some delays in matching funds received to the contractor. We encourage all customers to set up direct debit.
- Direct debit is currently live for US (ACH Debit), UK (BACS) and EU (SEPA) customers.
- In some currencies, payment will be received in seconds and in others up to 3 business days.