Your accepted payments or account may not be eligible for settlement.
A Settlement is defined as the flow of funds from Zeller to your Zeller Transaction Account or nominated BSB and account number, based on the value of acquired transactions less any transaction fees.
An accepted payment is defined as a payment that you received on your Zeller Terminal.
There are two types of settlement freezes that can apply to your Zeller account:
- Partial freeze - Where a particular transaction or a proportion of your accepted payments are illegible for settlement.
- Full freeze - Where the entire balance of your accepted payments is illegible for settlement.
What makes a payment illegible for settlement?
There are two core reasons that make a payment or a proportion of your accepted payment illegible for settlement:
- The transaction is subject to a cardholder dispute (otherwise known as a chargeback), which requires you to submit information to the bank to resolve the issue. Until the issue is resolved, we are unable to settle that transaction.
- The transaction has been identified as potentially fraudulent, which may impact you, and we're undertaking steps to determine whether the transaction is fraudulent.
When does a full freeze take place?
There are three main reasons why we will place a full freeze over settlements:
- Your account has been compromised. Zeller maintains industry-leading counter-fraud controls to best protect your payments. We will proactively reach out as we undertake this action.
- If there is more information that we need about your business, we won't be able to settle your funds until we receive the information requested.
- We've been asked to place a freeze by law enforcement or court directive.
If you would like to discuss specific details about your account, please contact our Support team.