Glossary
What is settlement?
Settlement is the point at which money has actually moved and is available to you — as distinct from authorisation, which is only a promise that it will.
Updated 7 August 2026
A card payment can be authorised in a second and settle later. A bank transfer is usually settled when it appears.
The distinction matters when you are deciding whether to hand something over. Smilelink shows cleared and pending separately for exactly this reason.