Merchant FAQs

General

When does Currency Select pay our settled funds?

We will send a payment instruction to your bank the next day (T+1) for all transactions processed up until the last settlement today (T+0). This is true no matter what time you settle. So if you settle at 12:15am today (T+0), then all transactions performed between 12:00am and 12:15am will be sent to your bank the next day (T+1).

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When will I receive my settlement funds?

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This depends on your bank because we can't control when they physically credit your account. We can only guarantee transmission of the payment instruction to your bank on T+1 and that the credit date will be the same (T+1). Your bank may take another day to provide cleared money into your account.

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How long are Preauthorisations held?

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The exact length of time is dictated by the cardholders issuing bank, however the standard period is 30 days if no action (completion or release message) is taken on the original auth.

You can speed up this process my using Currency Select's Merchant Portal to send of a 'Preauth Cancel' message to the cardholders issuing bank, which also allows you to email a receipt confirmation to the cardholder.

In rare cases, even after sending a completion or auth cancel message, the cardholders issuing bank may still not release the preauthorised amount. In scenarios like this, it is recommended that you provide as much documentation to the cardholder around your efforts to release the preauthorisation and have them contact their bank.

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When are Statements and Cost of Acceptance reports issued?

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Typically statements are generated and sent in the first full week of the month, after the Currency Select Settlements team has completed their month end reconciliation.

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Integrated Payments

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Why are my integrated transactions being slow?

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An integrated transaction is solely reliant on the network and internet connection at the property. If you are finding that your integrated transactions are taking a while to process, this could be the result of;

• The internet connection at the property that the terminals are connected to is slow or has a lot of traffic on the network
• There are certain network limitations/restrictions slowing down the data packets being sent to Currency Select

To troubleshoot this issue we ask that you please:

• Check with your ISP (Internet Service Provider) if there are any issues with your Internet and/or services in your area
• If applicable, please consult your IT to check if your terminals can communicate to Currency Select's host efficiently
• Have your IT Team investigate any potential impact caused by security software such as Antivirus or Firewalls
• Restart your Currency Select terminal

If you have attempted the above and are still experiencing issues, please contact our Customer Care team by email DCC-Customer-Care@currencyselect.com or alternatively call 1800 767 338 (Option 3).

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Contactless Payments

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Does Currency Select accept Contactless payment methods?

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Yes, all Currency Select terminals accept various Contactless payment methods including; Visa, MasterCard, Amex, China Union Pay as well as mobile wallets including Apple Pay, Samsung Pay, WeChat Pay and Alipay.

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Why won't my terminal read cards using Contactless?

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If your Currency Select terminal is not reading cards that are being tapped (Contactless), there are a number of reasons the terminal might not be reading the card. These include:

• Contactless is not enabled on the terminal (please check with our Customer Care team)
• There may an issue with the card itself and therefore it is recommended you try another card to see if the issue occurs again
• The card was not held long enough to be read (this can take anywhere from 2-3 seconds)
• It is also important to ensure the card is being tapped and held directly over the contactless reader on the terminal

If all of the above steps have been completed and you are still unable to get your terminal to read the card, it may be a hardware fault and therefore we recommend you contact our Customer Care team by email DCC-Customer-Care@currencyselect.com or alternatively call 1800 767 338 (Option 3).

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Reporting

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Does Currency Select provide transaction reporting?

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Yes, Currency Select provides full enhanced reporting which includes all the necessary transaction fields required to assist with end of day reconciliation/balancing. Our reporting is also broken down by Terminal ID, making it easy to identify where a transaction originated and eliminates the need to manually print off batch reports on the terminal itself.

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