Statements

Statements and Settlement

Settlement

Release Schedules

Where to find your processing Statements

Understanding your processing Statements

How to export/download a processing Statement

Understanding your exported Statement

Related Topics

GETTING PAID

Settlement

Whether you use a Protected Processing Account or a Trust Account, all funds are held in customer segregated Trust Accounts with the added protection of our specially appointed trustees who are a combination of lawyers & accountants. A Statement is generated ahead of each release of funds detailing processed bookings and fees for easy reconciliation and analysis.

Pay-outs

Pay-outs are the release of processed funds, less any charges, from Trust My Travel. Pay-outs will occur on a rolling basis, dependant on your pay-out schedule. Each time a payout is sent to your bank you will receive a Payment Confirmation email

Your first Pay-out

There will be a delay of one full processing period before you are released funds for the first time. This allows you time to begin successfully processing bookings before any deductions or charges are due. This delay also means Trust My Travel are able to detect any suspicious or potentially fraudulent activity before funds are automatically released.

 

Methods of Settlement

Trust My Travel's avoid high transfer fees by utilising our global payment network.

Our long-standing banking relationships ensure you receive cost-effective settlement in your chosen currency on a regular basis via local payment methods, available domestically in over 65 countries.

We will only charge the pay-out fee specified in your contract – if you incur any additional fees you need to liaise with your bank regarding these additional fees.

Release Schedules

Release Schedules are determined by your account type. Each account type will have a different duration of 'processing period'. Depending on your agreed account type, funds will be settled (aka paid-out to you) every 7 days or on a monthly basis.

If you're unsure how often to expect funds, your Release Schedule can be found be referring to your Trust My Travel Contract.

Your payout can take up to 5 working days from the payout date to reach your bank account.

Please note global public holidays can affect your payout due to bank closures.

 

7 Day

Providers on a 7-day release will receive funding on a rolling weekly basis. The 7-day period always begins on a Monday and ends on a Sunday.

 

(A) This statement will show all transactions that have processed from Monday to Thursday. This Statement will now appear in the Statements section on the Dashboard and will show as pending.

(B) This statement will show all transactions that have processed from Friday to Sunday. This Statement will now appear in the Statements section on the Dashboard and will show as pending.

C) Period 1 and Period 2 statements will now change from Pending to Published in the Statements section on the dashboard. These statements will now also appear in the Ledger section on the dashboard and will show in the Owing Tab. Once your statements have been paid they will show in the History tab of the Ledger section.

(D) A week (7 days) is split into 2 processing periods

(E) You will receive two Statements per week (7 day period) https://help.trustmytravel.com/getting-paid/statements/

(F) https://help.trustmytravel.com/getting-paid/getting-started-trust-ledger/ 

To summarise:
  • Statements are produced twice a week and will show in the Statement section of the dashboard as pending
  • Statements are published once a week, on a Monday, and will now show as published in the Statements section of the dashboard
  • Once Statements have changed to 'published' they will also appear in the 'Owing' tab of the Ledger section of the Dashboard
  • Once the published Statements has been paid it will no longer show in the 'Owing' tab and will move to the History tab of the Ledger section - Please Note: Funds are usually received within 5 working days from the published date

 

 

Monthly

Providers on a monthly release will receive funds within 9 days of the start of the month following their Statement.

 

(A) This statement will show all transactions that have processed from Monday to Thursday. This Statement will now appear in the Statements section on the Dashboard and will show as pending.

(B) This statement will show all transactions that have processed from Friday to Sunday. 

(C) These statements will now also appear in the Ledger section on the dashboard and will show in the Owing Tab.

(D) All the statements that been Published in the calendar month (Days 1 to 31 in this example) (Periods 1A, 2A, 1B, 2B, 1C, 2C in this example) will be released for Payout.

(E) https://help.trustmytravel.com/getting-paid/statements/

(F) https://help.trustmytravel.com/getting-paid/getting-started-trust-ledger/  

To summarise:
  • Statements are produced twice a week and will show in the Statement section of the dashboard as 'pending'.
  • Statements are published once a week, on a Monday, and will show as 'published' in the Statements section of the dashboard.
  • Once statements have changed to 'published' they will also appear in the Owing Tab of the Ledger section of the dashboard.
  • Once the published statement has been paid it will no longer show in the Owing tab and will move to the History tab of the Ledger section.
  • Once a pay-out has been released, funds can take up to 5 working days to reach your bank account.

 

GETTING PAID

Statements

1.Login to the Infinity Platform

Screenshot 2021-04-13 at 17.07.50

2.Select 'Statements' on the main menu

3.Search for statement per your processing channels using the drop-down menu

Screenshot 2021-04-13 at 17.09.31

4.You can also search by Date using the date selector (top right). When you click on the dates a Calendar will pop out so you can change the date range you wish to look at

Screenshot 2021-04-13 at 17.11.15

STATEMENTS

Understanding your processing Statements

The 1st column is the date that the statement was generated

The 2nd column is the title of the statement – this is a blue link which can be clicked on to open out more details of this statement.  Once you are in the statement you can see a further breakdown by clicking on the blue Export button at the top right and this will download a full description of the statement showing all the bookings that have been included in this statement

The 3rd column shows the value of the statement

The 4th column shows the Status:

'Pending' means the statement has been generated but not Paid out

'Published' means the statement has been moved to your Trust Ledger

 

STATEMENTS

How to download a processing Statement

1.To view and download a Statement, login to your TMT Infinity Dashboard and click 'Statements'

2.Select a Statement. See above for searching for a specific statement

3.Click 'Export' which downloads a CSV of your statement as a zip file on your device

Please note, you will only see the 'Export' button for statements containing processing data (credits, debits). Statements with no data (representing a period where no processing took place) can be viewed but not downloaded.

STATEMENTS

Understanding the exported Statement

At the bottom of your exported statement you will see this section:

Booking Trust ID = Trust ID associated with the Booking

Booking = Last name and email address from the Booking

Booking Reference = Your Reference from the Booking

Description = Payee name | payee email address | transaction type

This is for the payment that the cardholder made for the booking and will be shown as a credit on your statement.

For each Booking Trust ID you may see some or all of these:

Transaction Fee (as per your contract) - fees are charged for all transactions types e.g. refund, capture, authorise, fail and purchase

Credit Card Fee / Card Processing Fee (% of transaction value as per your contract)

Reserve (% of transaction value held back as per your contract)