A payment is not money until the rail settles
Sending is instant on every rail. Settlement is not. Kelvern shows you the settlement date at the point of approval, then holds itself to it.
The same run, four rails
This is a real payment run drawn from the settlement table below. The axis is 96 hours from initiation.
- Faster Payments UK haulier, weekly account
- SEPA credit transfer Rotterdam supplier, 30 day terms
- SWIFT, one correspondent Shenzhen supplier, deposit
- Commercial card Freight surcharge, port of Felixstowe
- SWIFT, recalled Duplicate invoice, pulled back by the payer
Cut-off times
- Faster Payments
- No cut-off
- Runs every day of the year, including weekends and bank holidays.
- SEPA credit transfer
- 15:00 CET
- After the cut-off the payment takes the next business day.
- SWIFT, one correspondent
- 14:00 GMT
- A second correspondent adds a day and a fee you cannot see in advance.
- Commercial card
- Instant
- Authorisation is instant. Settlement to the acquirer takes three days.
The recalled instrument on the board above is a real outcome, not an error state. A payer can pull a payment back before settlement, and once it is pulled back there is no value date to show. Kelvern reports it as recalled rather than as pending, which is the difference between a ledger that closes and one that does not.
See it on your own run
We take one of your recent payment runs, every rail on it, and show the settlement dates you would have been given.