Processing time for payments varies for each country. The reason for this is that all countries have different local intermediary banks that have their own settlement times. ipaymy works hard to ensure we are always working with partners and providers that ensure the most secure and fastest settlement options.
One Time Payments
Payment Country | Currency | Settlement Time |
Singapore | Singapore Dollar (SGD$) -Visa/Mastercard
|
1 Business Day* 2 Business Days 2 Business Days |
Australia | Australia Dollar (AUD$) | 1 Business Day* 2 Business Days |
Hong Kong | Hong Kong Dollar (HKD$) | 1 Business Day* 2 Business Days |
Malaysia | Malaysia Ringgit (MYR) | 3 Business Days |
For example, based in Singapore, if you make a payment on a Monday, the earliest payout date to your recipient will be on Wednesday. For payments made with AMEX, the earliest payout date will be on Thursday.
*For payments made by 4.30pm SGT - more details can be found here.
*For payments made by 4.30pm HKT - more details can be found here.
*For payments made by 6:30pm AEST - more details can be found here.
Recurring Payments
Payment Country | Currency | Settlement Time |
Singapore | Singapore Dollar (SGD$) -Visa/Mastercard |
|
Australia | Australia Dollar (AUD$) | 1 Business Day |
Hong Kong | Hong Kong Dollar (HKD$) | 1 Business Day |
Malaysia | Malaysia Ringgit (MYR) | 2 Business Days |
For example, based in Singapore, if you schedule a recurring rent payment to be made to your landlord on the 28th of every month from January 2022 to January 2023, your card will be charged 1 business day before the 28th of the month. If the 28th falls on a non-business day (Saturday, Sunday, or Public Holiday), your charge date and payout date will automatically adjust so your landlord receives the funds the last business day before the due date. (e.g. 28 May falls on a Saturday, your landlord will receive the funds on Friday 27 May and your card will be charged on Thursday 26 May)