Clever Connect keeps money movement simple by using two main merchant-facing terms: Settlement and Account Transfer. Knowing which one applies comes down to where the money is coming from and where it is going. This page explains the two terms, then covers how Settlements and Withdrawals behave under each balance model.

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Settlement vs. Account Transfer

Settlement

Moves available funds out of a Payments Account, either to a Treasury Account or to a named external bank account. A settlement fee usually applies.

Account Transfer

Moves funds between your Hello Clever accounts, or between a Treasury Account and an external account. Internal transfers do not charge a fee; external movements may.
The simplest way to tell them apart:
  • If the source is a Payments Account and funds are moving out → it is a Settlement.
  • If both the source and destination are Hello Clever accounts, and you are not settling payment proceeds → it is an Account Transfer.
  • If the source or destination is external and the Hello Clever account is a Treasury Account → it is an Account Transfer.
Cross-currency movement is only allowed between Treasury Accounts, and it is presented as an Account Transfer. Movements involving a Payments Account do not support cross-currency.

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Which term applies

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Fees at a glance

Fees are always shown before you confirm, so you can see the exact cost of a Settlement or external Account Transfer before it happens.

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Settlements

A Settlement moves funds out of your Clever balance. The only practical difference between the two balance models is whether you choose an account first.

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Settlements under Aggregated Balance

When you create a Settlement under Aggregated Balance:
  • The amount is deducted from your single merchant balance.
  • No account selection is required.

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Settlements under Dedicated Balance

When you create a Settlement under Dedicated Balance:
  • You must select an account first.
  • The amount is deducted from that account’s balance only.
Settling AUD 500 from Store A: Store B’s balance is not affected and remains unchanged.

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Withdrawals

Withdrawals follow the same pattern as Settlements: your model determines whether you pick an account.

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Withdrawals under Aggregated Balance

Withdrawals are processed from the merchant balance, and no account selection is required.

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Withdrawals under Dedicated Balance

Withdrawals are processed from the selected account balance. Withdrawing AUD 500 from Store A: Store B’s balance remains unchanged.
Under Dedicated Balance, both Settlements and Withdrawals start by asking which account you want to draw from, since each account holds its own balance.

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What every confirmation shows

Whether you are settling or transferring, the confirmation screen shows the same core details so you always know exactly what will happen:
  • Source account and destination account.
  • Amount and currency.
  • Timing: end of day, on demand, or dependent on the payment method (with the option to schedule a transfer for the future).
  • Fee, if any.
  • Expected balance impact.
  • A reference ID after submission, and the status after submission.
Ready to move money out of a Treasury Account step by step? See the transfer flow.