How Long Does it Take to Settle Contractor Payments?

Article author
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.

 

1. Direct Debit

 

As soon as you approve the invoice, Oyster will charge your bank account. Settlement and clearing of funds take 2-5 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 up to 3 business days.

 

2. 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 3 business days. 

 

Notes

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