ELECTRONIC FALLBACK
Q: W HAT DOES ELECTRONIC F ALLBACK (EFB) MEAN?
A: Please refer to both your BOQ Merchant Terms and Conditions and section 5.11
Electronic Fallback Procedure.
CLOSE BATCH (SETTLEMENT) AND REPORTING
Q: W HAT DOES A USTRALIAN EASTERN DAYLIGHT S AVINGS TIME (AEDST)
MEAN WHEN IT COMES TO SETTLEMENT
?
A: All Settlement times are reflected in Australian Eastern Standard Time (AEST) which does
not cover daylight savings periods (e.g. 5.30pm for Sydney/Melbourne is 4.30pm for
Queensland). The default settlement time is 6pm AEST.
Q: H
OW DO I PRINT A MANUAL SETTLEMENT REPORT FROM MY TERMINAL?
A: Select the grey menu function key located on the right-hand side of terminal, then navigate
to and select Settlement, then 1. Close Batch, and this will print report. Refer to section
6.3.1 Close Batch (Settlement) - Manual. Note: The Settlement/Close Batch report cannot
be reprinted.
Q: I USED TO BE ABLE TO SETTLE SEVERAL TIMES A DAY, CAN I STILL DO
THIS
?
A: No, a Close Batch (Settlement) can only be performed once per day. For merchants that
wish to reconcile against shift totals, please use the ‘Sub-total’ function to provide running
totals of transactions that have been performed through the day.
Q:
C AN I CHANGE MY C LOSE B ATCH ( SETTLEMENT) TIME?
A: Yes, please contact the Merchant Helpdesk on 1800 700 226 and select option 2.
Q: DO I NEED TO MANUALLY CLOSE B ATCH EACH DAY TO RECEIVE MY
FUNDS OVERNIGHT
?
A: No, the terminal works best when it is set to settle automatically. In this instance,
transactions processed prior to the Close Batch Auto Settlement time will always be paid
into your nominated BOQ account overnight (on business days), providing this time is set
to 6.00pm AEST. This is referred to as same day settlement.
BOQ currently process settlement funds overnight Monday to Friday. That means
transactions processed on Saturday, Sunday and Monday (prior to cut-off) will be funded
overnight on Monday night (with the funding date as the effective date of the transaction).
Q:
W HEN ARE MOST TERMINALS SET TO AUTO S ETTLE?
A: 6.00pm AEST. Any transactions processed after this Close Batch has occurred will be
funded with your next day’s settlement.
Q: 6.00PM AEST DOESN’ T SUIT ME – CAN I CHANGE THE TIME THAT
SETTLEMENT OCCURS
?
A: Yes. Many businesses operate extended business hours, such as restaurants, grocery
stores or gyms. These businesses generally want to fund their full day transactions at one
time. We recommend that these merchants change their Auto Settlement time till after
midnight (Local time). This means that a full day’s trading will settle, in one batch, but not
overnight. Funds will be received the next settlement day. This is called Next Day
settlement.
Q: WHEN IS THE LATEST TIME I CAN COMPLETE A C LOSE B ATCH AND STILL
RECEIVE MY FUNDS OVERNIGHT
?
A: 6:00pm AEST is the latest time within the day that a terminal can Close Batch and for
funds still be settled into your account overnight. This is referred to as Same Day
settlement.
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