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settlement service

How long is the IPS merchant's settlement cycle?
How does the merchant apply to settle accounts in advance?
Is there any transfer service charge in normal settlement for merchants?
May the settlement cycle and settlement quota be changed?

How long is the IPS merchant's settlement cycle? 
Answer: The normal IPS settlement cycle is carried out twice a week. Every Monday and Thursday, settlement list and forms will be made and every Tuesday and Friday the appointed bank will make settlement. It costs 1-3 working days for settlement fund to reach the appointed accounts according to different areas and banks.

How does the merchant apply to settle accounts in advance? 
Answer: When the merchant, because of unusual situation and having no completely delimited the funds quota, needs to carry on settlement in advance, the merchant may apply to IPS for settlement in advance. Please fill in "Settlement in Advance Application" and fax it to our Account Service Department. After receiving your material, we will process it in 2 working days for you.
Note: The merchant needs to undertake the service charge of ￥ 5.5 and it will be deducted from this settlement fund.
 
 
Is there any transfer service charge in normal settlement for merchants? 
Answer: No. The transfer service charge is undertaken by IPS during the normal settlement.

 
May the settlement cycle and settlement quota be changed? 
Answer: Yes. IPS will satisfy the different settlement requirements of merchants after checking the kind of the merchants and their transaction volume. Merchant need submit the settlement change application to IPS customer mananger in Account Service Department and feedback about the result will be turned back to the merchant within 3 working days.

 
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