Merchant money, settled and safeguarded. Reconciled every day.
Scheme settlements, processor payouts and partner bank statements reconciled every day. Every receipt traced into safeguarding before its deadline. What each entity owes its merchants checked against what it holds, currency by currency.
How money moves through a payment business.
Settlement arrives net, often in the wrong account, in several currencies. Each stage has its own check.
Card schemes and processors pay out net of interchange, scheme fees, refunds and chargebacks.
Settlement and processor files matched to your ledger, within the allowed difference and date window you approve.Settlement often lands in an operating or settlement account, not in safeguarding.
Every receipt outside safeguarding logged with its deadline. Unidentified money treated as customer money.Funds owed to merchants sit in safeguarding accounts across banks and currencies.
Owed and held for each entity and currency. A surplus in one currency never covers a gap in another.Your earned fees and margin belong to you, not to merchants.
Fee withdrawals prepared by Autopilot and released only after approval.Merchant settlements go out daily or weekly, in each merchant's currency.
Payout days forecast 24 hours, 7 days and 30 days ahead, funded before the run.Every receipt, into safeguarding on time.
A payment operations day.
Reconcile, resolve, forecast, approve and report, every business day.
01Reconcile
Scheme and processor settlement files, your merchant ledger and every partner bank statement, matched for each entity, pool and currency.
02Resolve
A settlement short by fees, a refund booked twice, a credit with no reference. Autopilot closes routine timing differences; AI investigation proposes the cause of the rest.
03Forecast
Expected settlements and merchant payouts over 24 hours, 7 days and 30 days, with the low point measured against the minimum balance for each currency.
04Approve
Top-ups before payout runs, fee withdrawals and currency transfers proposed with the amount and deadline, approved under your limits, sent to your bank as a standard payment file.
05Report
The UK monthly safeguarding return ready to file. DNB, Bank of Canada, MAS and ASIC packs prepared in each regulator's structure.
Each licence, under its own rules.
Payment institutions protect customer money under a different rule in every market. Safeheld applies each entity's rule to its own figures. FCA, PS25/12.
| Regulator | What the rule tests | What Safeheld produces |
|---|---|---|
| Financial Conduct AuthorityUnited Kingdom | CASS 15 safeguarding for payment institutions, including small payment institutions that opt in. | Monthly safeguarding return, ready to file in My FCA. Resolution pack and audit pack. |
| De Nederlandsche BankNetherlands | Wft 3:29a safeguarding for payment institutions. | T80.01 and T83.00 workbook for DLR, including chargebacks reserved and granted, which your team completes. |
| Central Bank of Ireland and Bank of LithuaniaIreland, Lithuania | National safeguarding rules for payment institutions. | Daily coverage result and audit pack for each period. |
| Bank of CanadaCanada | Retail Payment Activities Act, section 20: end-user funds. | Annual report sections 2 and 4, as a completion workbook for PSP Connect. |
| Monetary Authority of SingaporeSingapore | Payment Services Act 2019, section 23: relevant money. | PSN04 Form 8 and Form 5 in the MASNET layout. |
| Australian Securities and Investments CommissionAustralia | Corporations Act, section 981B: client money. | FS71 Part 2 with the client money schedule. |
Every report is reviewed and approved by your team before it is filed.
Questions.
Our scheme settlements land in a settlement account. Does that matter?
Yes, until the money reaches safeguarding. Safeheld logs every receipt that arrives outside a safeguarding account and tracks it to the deadline the rule sets, which in the UK is the end of the next business day. Receipts that cannot yet be identified are treated as customer money.
Can Safeheld reconcile processor and scheme files, not only banks?
Yes. Settlement and processor reports load by secure file transfer or upload, or through a direct connection, alongside bank statements in MT940, camt.053, BAI2 or CSV, and are matched to your ledger within the allowed difference and date window you approve.
How are our own fees taken out of safeguarding?
Autopilot prepares the fee withdrawal as a proposal. Nothing moves until your approvers sign it off, and the withdrawal is recorded against the position once the bank confirms it.
We settle merchants in several currencies. Is anything offset?
No. Each entity is positioned in each currency on its own, with no exchange rate assumed. A surplus in euros never covers a shortfall in sterling, and one entity's money never covers another's.
Does Safeheld replace our processor or our bank?
No. Safeheld reads from them. Approved payments are produced as a standard payment file for your bank.