Understanding Payment Confirmation Updates
What is a payment confirmation?
Fundtap does not receive real time confirmation of payment from our direct debit provider, so if you are wanting to draw down more funding on your account we may request confirmation of a previous repayment. This means sending us a screenshot of the funds leaving your bank account, and displaying the closing balance.
How are payment confirmation updates handled?
Once a payment confirmation is received by us, your account will be updated shortly afterward. If payment confirmation is not requested, then payments you make are usually reconciled the next business day after they are made, although processing delays can extend this to up to 3 business days.
What should I do after making a payment?
If you have made a payment, you can send through the payment confirmation or proof of payment. If you have uploaded a new invoice for funding, your account will be updated after the payment is confirmed.
How long does it take for the account to update?
- Usually: the next business day
- In some cases: up to 3 business days
What if the payment does not appear on the account yet?
Sometimes, due to weekends or public holidays, processing can take longer. Once the payment has been confirmed, the account will be updated shortly.