TinkerDay 1, by day. Requests and captures, no money yet.held €7,943.90 · charged €234.50 · Larkspur kept €0.00
Chapter 3 of 7
Overnight
Captured payments still aren’t money in Larkspur’s account. That happens at night, and the finance team wants to know why Ana’s payment arrives smaller.
This chapter: Where does the money go overnight, and who takes a fee?
About this chapter
You will learn
- Settlement moves the money at a nightly cut-off
- Three fees come off
- The EU caps one of them
Words you’ll meet
- Settlement
- The nightly transfer: the issuer pays, the network passes it on and Larkspur’s bank pays Larkspur.
- Interchange
- The fee the issuer keeps from each payment; EU law caps it.
Step 1 of 5
By day Larkspur collects holds and captures, but no money. Money moves at night.
Move the clock to Day 1, night (22:00).