Settlement and Reserve Policy

1. About this policy

1. 1.1
   This policy is part of our agreement with you, as set out in article 1.3 of our Terms of Service and article 1.2 of the Merchant Agreement. Capitalised terms have the meaning given to them in the Terms of Service.
2. 1.2
   Your payouts are managed either by Checky Pro or by your acquiring partner. This policy applies only where Checky Pro manages your payouts.
3. 1.3
   Where your acquiring partner manages your payouts, only the rules of your acquiring partner apply. Your acquiring partner then decides, under your agreement with it, when you are paid out, whether a reserve or a delay applies, how much it is, when it is released, and whether payouts are held. Nothing in this policy applies, and we cannot change, reduce, release or accelerate any of it.
4. 1.4
   Where Checky Pro manages your payouts, we determine when your acquiring partner pays out your funds and which part of them it holds as a reserve, and we instruct your acquiring partner accordingly. Your funds remain with your acquiring partner on your account at all times. We do not hold them.
5. 1.5
   Even where Checky Pro manages your payouts, your acquiring partner, a Card Scheme or a competent authority may take measures of its own in addition to those in this policy.

2. Which of your accounts this policy applies to

1. 2.1
   You may have more than one account with one or more acquiring partners, for example where your Stores are processed by different acquiring partners.
2. 2.2
   For each account, your Dashboard shows either "Payouts managed by Checky Pro" or "Payouts managed by your acquiring partner". This policy applies only to the accounts marked "Payouts managed by Checky Pro". These are the accounts to which Managed Settlement applies under the Terms of Service (each a Managed Account).
3. 2.3
   Everything in this policy, including Volume, the Chargeback Ratio, the reserves and the Payout Delay, is determined separately for each Managed Account.
4. 2.4
   Where an account stops being a Managed Account, for example because your Stores are moved to another acquiring partner, amounts withheld under this policy before that moment remain subject to this policy until they are released. Transactions after that moment are subject to the rules of the acquiring partner that then manages the payouts.

3. Definitions

1. 3.1
   Volume — the gross amount of the Transactions on a Managed Account captured in a period, before deduction of fees, refunds and chargebacks.
2. 3.2
   Payout Delay — the number of calendar days between the day a Transaction is captured and the day the amount of that Transaction is paid out, before any reserve is deducted.
3. 3.3
   Chargeback Ratio — the number of chargebacks received on the card Transactions of a Managed Account in the previous 30 days, divided by the number of card Transactions captured on it in the same 30 days. A dispute resolved by a refund after a pre-dispute alert, before a chargeback is raised, is not counted as a chargeback.
4. 3.4
   Fixed Reserve — the reserve under article 4.
5. 3.5
   Rolling Reserve — the reserve under article 6.
6. 3.6
   Maximum Holding Period — the period that applies to a Managed Account under article 8.1 to 8.3.
7. 3.7
   Amounts in this policy are stated in euro. Where a Managed Account settles in US dollars or pounds sterling, the same number of US dollars or pounds sterling applies.

4. Fixed Reserve

1. 4.1
   A Fixed Reserve applies to every Managed Account for as long as it is a Managed Account. It is 2% of the Volume over the previous 30 days, with a minimum of € 500, or 500 US dollars or 500 pounds sterling where the account settles in that currency. Where an account settles in more than one currency, the minimum applies in its main settlement currency.
2. 4.2
   The Fixed Reserve is built up by withholding amounts from your payouts until it is reached, and is then maintained by withholding from later payouts what is needed to keep it at that level.
3. 4.3
   We recalculate the Fixed Reserve every day. Where your Volume rises, the Fixed Reserve rises with it. Where your Volume falls, the lower Fixed Reserve applies 30 days after the fall.
4. 4.4
   The Fixed Reserve is released after this agreement ends, as set out in article 10, subject to article 8.

5. Payout timing

1. 5.1
   First payout. The first payout from a Managed Account is made only after at least one of its Transactions has been marked as delivered in the Dashboard, with a valid tracking code. Where you sell goods or services that are not physically delivered, the first payout is made no earlier than 14 days after the first Transaction.
2. 5.2
   Standard Payout Delay. Until the total Volume of a Managed Account since it was activated reaches € 5,000, its Payout Delay is 7 days. After that it is 5 days.
3. 5.3
   Faster payouts. Where the Volume of a Managed Account over the previous 30 days exceeds € 30,000, you may choose in the Dashboard a Payout Delay of 3 days. For faster payouts we charge 0.25% of each amount paid out at the faster timing, as referred to in article 16 of the Terms of Service.
4. 5.4
   Faster payouts are available regardless of any Fixed Reserve or Rolling Reserve. Where the Volume no longer meets the threshold in paragraph 3, the standard Payout Delay applies again from the next payout, and we tell you. A measure under article 11 may set a longer Payout Delay for as long as it applies.
5. 5.5
   Payouts are made on business days. Where a payout falls on a day that is not a business day for your acquiring partner or your bank, it is made on the next business day.

6. Rolling Reserve

1. 6.1
   Where the Chargeback Ratio of a Managed Account reaches the level in the table below, a Rolling Reserve applies in addition to the Fixed Reserve. The Rolling Reserve is the stated percentage of the Volume of each payout, held for 60 days and then released.

2. 6.2
   A higher level applies from the first payout after the Chargeback Ratio reaches it.
3. 6.3
   A lower level applies once the Chargeback Ratio has stayed below the threshold of the current level for 60 consecutive days. Amounts already withheld are released on their own release date.
4. 6.4
   Where the Chargeback Ratio exceeds 2%, we may in addition hold the payouts of the account in whole or in part under article 31.1(g) of the Terms of Service, and terminate the agreement under article 33 of the Terms of Service.

7. How we measure

1. 7.1
   We calculate Volume and the Chargeback Ratio every day from the data we receive from your acquiring partner.
2. 7.2
   Your Dashboard shows the figures on which we base the reserves and the Payout Delay of each Managed Account, so that you can check them.
3. 7.3
   Where the data of your acquiring partner is corrected later, we recalculate. Where a correction shows that a reserve or measure should not have applied, we release the amount concerned with the next payout.
4. 7.4
   You may ask us to review the figures, a Rolling Reserve level or a Payout Delay that applies to a Managed Account, with reasons, through the Dashboard or by email. A member of our staff reviews it, you may give your view, and we respond within 5 business days.

8. Maximum holding period

1. 8.1
   As a standard, no amount withheld under this policy, whether as Fixed Reserve, Rolling Reserve, payout hold or longer Payout Delay, is held for longer than 90 days after the day on which it became available for payout in your balance with your acquiring partner.
2. 8.2
   Where your acquiring partner allows a longer period for the country in which your business is established, we may hold amounts for up to that longer period. For a business established in the United States, that period is up to 2 years.
3. 8.3
   Where your acquiring partner requires a shorter period for your country, that shorter period applies.
4. 8.4
   Your Dashboard shows the period that applies to each Managed Account.
5. 8.5
   Where a reserve is still needed when that period ends for a withheld amount, that amount is released and the reserve is maintained by withholding the same amount from the next payout. This does not change the level of the reserve.
6. 8.6
   Where no later payout is available, the amount is released.

9. Use of the reserves

1. 9.1
   The amounts withheld under this policy serve as security for what you owe in connection with the Managed Account, including refunds, chargebacks, chargeback fees, fees of your acquiring partner, fines and assessments of a Card Scheme, a negative balance, and amounts you owe us that are due and unpaid, insofar as article 18.7 of the Terms of Service allows us to collect them from your balance.
2. 9.2
   Where such an amount is due, we may instruct your acquiring partner to apply the reserves to it. Where a reserve falls below its level as a result, it is replenished from later payouts.
3. 9.3
   A reserve is not a limit of your liability. Where what you owe exceeds the reserves, you remain liable for the full amount, as set out in articles 18 and 20 of the Terms of Service.
4. 9.4
   No interest is paid on amounts withheld under this policy.

10. When this agreement ends

1. 10.1
   After this agreement ends, or after an account stops being a Managed Account, we keep the Fixed Reserve and any Rolling Reserve to cover refunds and chargebacks that arrive later, and then release what remains:

   1. a.for a business established in the United States, 180 days after the last Transaction on the account;
   2. b.for any other business, 90 days after the last Transaction on the account.
2. 10.2
   Where the Maximum Holding Period ends earlier for an amount, that amount is released at the end of that period.
3. 10.3
   Amounts that you owe after the reserves have been released are collected as set out in articles 18 and 20 of the Terms of Service.

11. Measures for individual accounts

1. 11.1
   In addition to articles 4 to 6, we may at any time, with immediate effect, apply a higher reserve, a longer Payout Delay or a hold on payouts to a Managed Account, where:

   1. a.its Chargeback Ratio, its refund rate or the number of pre-dispute alerts rises sharply;
   2. b.its Volume rises sharply compared with its previous average, or its average Transaction amount changes significantly;
   3. c.Transactions are not marked as delivered, tracking codes are missing or invalid, or Shoppers report that goods were not received;
   4. d.you sell products or services other than those approved for your Store, or you change your business model;
   5. e.its balance is negative, or an invoice from us remains unpaid;
   6. f.we reasonably suspect fraud or another circumstance referred to in article 31.1 of the Terms of Service;
   7. g.there are signs that you may not be able to meet your obligations, such as an application for bankruptcy or suspension of payments, or attachment of your assets;
   8. h.you or we have given notice of termination;
   9. i.your acquiring partner, a Card Scheme or a competent authority requires it;
   10. j.the bank account for payouts is changed, for the time needed to verify the change.
2. 11.2
   A measure under paragraph 1 is limited to what is needed to cover the risk concerned, and is subject to article 8.
3. 11.3
   We tell you which measure applies, why, and what is needed to return to the standard settings, as set out in article 12. Where we can, we tell you beforehand. Where that would increase the risk, we tell you as soon as possible afterwards.
4. 11.4
   We review a measure when the reason for it changes, and at least every 30 days.
5. 11.5
   We may at any time lower a reserve, shorten a Payout Delay or release a hold, for all Managed Accounts or for yours.
6. 11.6
   You may ask us to review a measure, as set out in article 7.4.

12. Information in the Dashboard and by email

1. 12.1
   For each of your accounts, your Dashboard shows whether Checky Pro or your acquiring partner manages the payouts.
2. 12.2
   For each Managed Account, it also shows the Volume and Chargeback Ratio on which we base our decisions, the Fixed Reserve, the Rolling Reserve level, the Payout Delay, any measure under article 11 with its reason, and for each withheld amount the date on which it will be released.
3. 12.3
   We notify you in the Dashboard and by email of a new Rolling Reserve level, a measure under article 11, the end of faster payouts under article 5.4, and an amendment of this policy.

13. Changes to this policy

1. 13.1
   We may amend this policy. We announce an amendment in the Dashboard and by email at least 30 days before it takes effect. You may terminate the agreement in accordance with article 32 of the Terms of Service before the amendment takes effect.
2. 13.2
   An amendment takes effect immediately where your acquiring partner, a Card Scheme, a competent authority or the law requires it. We tell you what changed and why.
3. 13.3
   An amendment that only lowers reserves, shortens Payout Delays or is otherwise only to your advantage may take effect immediately.
4. 13.4
   A move between levels under article 6 and a measure under article 11 are not amendments of this policy. They take effect as those articles provide.
5. 13.5
   The version in force is the one published on our website, with its version number and date.

Version 1.4 · Effective 1 November 2026 · Checky Pro B.V., Brandweerstraat 20, 7514 AE Enschede, the Netherlands · Chamber of Commerce 42000293