# Settlements

> How Ozow pays what you have collected into your bank account: what a settlement contains, when it arrives, how to track it, and how it meets your float.

Source: https://hub.ozow.com/payment-products/settlements-and-float/settlements/

A settlement is Ozow paying the money you've collected into your bank account.

When a customer pays you through Ozow, the funds may land with Ozow first. Ozow then groups those
payments together, works out what you're owed, and transfers it to you. That transfer is a
settlement.

## Settlements apply to pay-ins only

Only money coming *in* gets settled. Payouts and refunds move money the other way, out of your
[float](https://hub.ozow.com/payment-products/settlements-and-float/float-top-up.md), so they're never part of a settlement.

```mermaid
flowchart LR
    A["Customers pay you"] --> B["Funds held by Ozow"]
    B --> C["Settlement"]
    C --> D["Your bank account"]
    E["Your float"] --> F["Payouts and refunds"]
    F --> G["Recipients and customers"]
```

If you only send payouts and never collect payments, you won't have settlements at all.

> ℹ️ Ozow has more than one settlement model. By default, funds from your payments are
> aggregated and then settled to you. Your arrangement is agreed during onboarding, so speak to
> your account manager if you're not sure which applies.

## What's in a settlement

A settlement is the money you're owed from the payin transactions in that settlement period.
Nothing is netted off it.

- **Ozow fees are billed separately.** They aren't deducted from your settlement.
- **Refunds and payouts come out of your [float](https://hub.ozow.com/payment-products/settlements-and-float/float-top-up.md)**, not your settlement.

Your settlement therefore reconciles against your completed payin transactions for the period.

## When you get paid

Settlement timing depends on the payment method the funds came in through; they don't all settle on
the same cycle. If you enable a new payment method, your settlement pattern may change.

Your specific settlement arrangement is confirmed during onboarding. If you're not sure what applies
to your account, speak to your account manager.

## Tracking settlements

Settlements have their own statuses, separate from transaction statuses. A transaction reaching
`Complete` means the customer's payment succeeded. It does not mean the money has reached your bank
account; the settlement status tells you that.

The two vocabularies use many of the same words, so check which one you're looking at before acting
on it. See [Transaction and settlement statuses](https://hub.ozow.com/integration-methods/statuses.md).

You can view your settlements in the [Ozow Dashboard](https://dash.ozow.com) or via API.

## Settlements and your float

These are easy to confuse, and they move in opposite directions.

| | Settlement | Float |
|---|---|---|
| Direction | Ozow pays you | You pay Ozow |
| What it's for | Paying out what you've collected | Funding refunds and payouts |
| Applies to | Pay-ins | Payouts and refunds |

If you process refunds or payouts, you need a funded float; a settlement won't cover them. See
[Float top-up](https://hub.ozow.com/payment-products/settlements-and-float/float-top-up.md).