Same Day Settlement
1. What is Same Day Settlement (SDS)?
SDS is a feature that allows businesses to access funds from transactions immediately, rather than waiting for the standard T+1 (next working day) settlement time.
This service is available for QRIS, Virtual Account (VA), and E-Wallet transactions.
2. How quickly will I receive funds with SDS?
Funds are settled in real-time, as long as the bank or payment channel is operational. Settlement follows the National Bank of Indonesia calendar and the availability of the respective payment providers.
3. What are the fees for SDS?
Fees vary based on the payment method, whether it is a business day or holiday, and the bank used for Virtual Account transactions.
Contact your Brick Sales Manager for more information.
4. Are there transaction limits for SDS?
Yes, daily limits vary by payment method and business day type, such as weekdays, weekends, or holidays.
Contact your Brick Sales Manager for more information.
5. Which banks are supported for SDS with Virtual Accounts?
SDS is available for banks where settlement is not already processed in real-time.
6. Is SDS available on holidays and weekends?
Yes, SDS is available on holidays and weekends, but different rates and limits may apply compared to business days.
Holiday rates are typically applied on a case-by-case basis and must be confirmed with Brick prior to the holiday period.
7. How do I activate SDS for my account?
To activate SDS, you need to sign an addendum to your existing Brick Service Agreement.
Contact your Brick Sales Manager or support team to initiate this process.
8. Can I choose to use SDS for some transactions and not others?
SDS configuration can be applied based on payment method and business day type, such as weekday or weekend.
Please check with your Brick Sales Manager for available customization options.
9. Are there any additional requirements to use SDS?
The primary requirement is signing the addendum to your existing agreement.
Additional eligibility criteria or risk assessments may apply, which your account manager can clarify.
10. How does SDS benefit my business?
SDS offers several benefits:
- Improved cash flow management
- Ability to reinvest earnings immediately
- Enhanced operational efficiency
- Competitive advantage in fast-paced markets
11. Is there a minimum transaction volume required to use SDS?
There is no specific minimum transaction volume. However, Brick expects high utilization of the assigned SDS limit.
Based on historical data, further adjustment of the limit and minimum transaction expectations may be discussed.
Consult with your Brick Sales Manager for any volume-related requirements.
12. What happens if I reach my SDS transaction limit?
If you reach your daily SDS transaction limit, any subsequent transactions will revert to the standard settlement time, typically T+1.
Here is what you need to know:
- The limit resets daily, so you can use SDS again the next day up to your assigned limit.
- Transactions beyond the limit are still processed, but will settle according to the standard timeline.
- It is important to monitor your transaction volume, especially during high-volume periods or holidays.
- If you frequently reach your limit, you may discuss the possibility of increasing your limit with your Brick Sales Manager.
Limits can vary based on several factors, including your business model, transaction history, and risk profile. Always refer to your specific agreement for the most accurate information about your limits.
13. How secure is the SDS process?
Brick emphasizes security in all its operations. The SDS process follows the same secure protocols as standard settlements, with accelerated timing.
14. Can I revert to standard settlement if I no longer need SDS?
Yes, you can revert to standard settlement. Discuss this with your Brick Sales Manager.
15. How does SDS work with my existing accounting processes?
SDS should integrate smoothly with most accounting processes by providing faster access to funds.
However, you may need to adjust your reconciliation procedures to account for quicker settlement times.
16. Is SDS available for all Brick clients?
SDS is offered on a client-by-client basis through individual addendums.
Check with your Brick Sales Manager to see if your business is eligible.