The Expected Clearing date
The expected clearing date is the date we expect this money to reach your business's bank account, you can see this for each invoiced amount by going to a proposal, and clicking on the Invoice & Payment tab.
Payments themselves are collected on the due date of the invoice - that is the 'Collection'
Credit Card - If the client is paying by Credit Card, then it will typically take 1-2 business days to clear from the date of collection.
Direct Debit - If your client is paying by Direct debit, then it will typically take 6 business days (T+5) to clear from the date of collection (T).
Why does it take so long for Direct Debit?
It takes about 4 business days for the bank to send a success/failed payment message then another 2 days for them to deposit. As soon as we receive the funds, we disburse them to your nominated bank account.