Receiving Settlements

How settlements work

To receive settlements for successful payments made via DirectPay or Direct Debit, set up a settlement bank account so Mono can send your funds. Settlements are processed in NGN and happen by default at 7 PM (WAT) the next day.

Settlement timing:

• Monday to Thursday payments (12:00 AM - 11:59 PM) settle the next day at 7 PM.
• Friday to Sunday payments (12:00 AM - 11:59 PM) settle on Monday at 7 PM.

On your Mono dashboard, you can view a list of all of your settlements and the expected date to receive them in your bank account.

Adding your bank account information

Currently, we only support NGN payments so you can only add an NGN bank account for settlements. To add your bank account for settlements, follow the instructions below:

• Log into the Mono dashboard, click "More" on the sidebar menu, and select "Settings".
• On the settings page, navigate to "Manage settlements".
• Then you can select "Add bank account" to add your settlement bank account.
• Next, enter the details of the account you'd like to add (i.e Bank account Number and Bank) and click the "Continue" button.
• Finally, on successful resolution, your account will show up in the Settlement Accounts section.