Article facts
| Field | Visible value |
|---|---|
| Who may apply | Eligible online and offline merchants |
| Settlement sources | Acquiring banks, PSPs, payment facilitators, card-acquiring platforms |
| Settlement currencies | EUR, GBP, USD, depending on provider and configuration |
| Does account approval bind your acquirer? | No |
| Can funds then be used for payments? | Yes, for approved business payments |
| Last reviewed | 2026-09-09 |
What a merchant settlement account is
A merchant settlement account is an account used to receive funds paid out by an acquiring bank or payment service provider after customer transactions have been processed.
The settlement amount may reflect deductions such as processing fees, refunds, chargebacks, reserves or other amounts specified in the merchant's acquiring agreement. The payout is therefore not the same figure as gross processed volume.
What merchants can do with the account
- receive acquiring settlement payouts;
- receive marketplace or platform payouts;
- hold EUR, GBP and USD;
- exchange supported currencies;
- pay suppliers and contractors;
- transfer funds to another approved account;
- organise incoming flows using virtual IBANs;
- manage payment activity through one dashboard.
Two approvals, not one
- 2PayApp approval — the compliance review, resulting in your account configuration and account details.
- Your acquiring provider's acceptance — each provider applies its own requirements to settlement accounts, beneficiary countries, currencies and account identifiers.
Confirm the second before changing any settlement instruction. See Will my acquirer accept the account details?.
What this is not
Opening the account does not enable card acceptance. Payment acceptance, authorisation, processing, refunds and chargeback management are normally covered by a separate agreement with an acquiring bank, PSP or another acquiring provider — see What is the difference between merchant settlement and card acquiring?.
Frequently asked questions
Can online merchants apply? Yes. Eligible e-commerce and digital businesses may apply.
Can physical stores apply? Yes. Eligible offline merchants receiving settlements from point-of-sale acquiring may apply.
Can we receive settlements in different currencies? EUR, GBP and USD settlement flows may be supported depending on the acquiring provider and approved account configuration.
Can we pay suppliers from received settlement funds? Eligible settlement funds may be used for approved business payments to suppliers, contractors and other counterparties.
This article is explanatory. The individual offer, the applicable agreements and your acquiring agreement prevail if they differ from it.