📘 Let’s define some terms:
Banking day: Monday to Friday except for legal holidays
Calendar day: Monday to Sunday including legal holidays
There could be a few reasons why your deposit is still pending:
Check standard clearing or PESONet settlement times
The clearing day and time may vary depending on the time that the transaction was made, as well as on the cutoff times of the bank you transferred from. This is dependent on Banking Days. Please check your bank’s PESONet policies for more information.
Please refer to the UnionBank PESONet Settlement Advisory (August 1, 2024) for more details.
Funds are still in transit to NextPay
Wire transfers and check deposits may be subject to delays depending on the journey of the money transfer from the source account to the destination bank of NextPay.
At times, despite funds being deducted from your bank account (source), there may be delays in the banks crediting it to our bank account (destination) due to system or network traffic or banking day reasons.
Foreign exchange conversion rate
Wire transfers (international/overseas) may take some extra time as the final amount may be subject to change due to foreign exchange rate movements while the funds are in transit.
💡Tip: Please review the estimated crediting period provided by your wire transfer platform.
Failure to timely and correctly log your deposit
Even if you've made the deposit to our bank, failing to log it correctly and on time will delay the verification process, and you may have to log it again.
📌 IMPORTANT NOTE: NextPay cannot independently speed up the processing of your deposit into the bank itself. This depends greatly on how and when you deposit your funds into the bank.
Rest assured, the funds will be promptly credited to your NextPay account once they are reflected in our bank account. For a smoother experience, we suggest proactively planning and executing your deposits ahead of time to avoid potential delays.
If your deposit takes longer than expected, feel free to reach us at [email protected] or use the chat widget for assistance.