Early Settlement

5 minutes Managing Your Advance

Overview

You can pay off your payment-linked advance at any time before the scheduled completion. Early settlement allows you to clear your balance in one lump sum. This guide explains the early settlement process.

Early Settlement Process

Step 1: Notify SAPI that you want to make an early Settlement

You can either send an email or phone SAPI team
- Email: [email protected]
- Phone: +44 20 3868 4990, ext: 4

You are expected to provide:
- Your SAPI account number (8 characters)
- Preferred settlement date
- Method of payment (bank transfer preferred)

Step 2: Receive settlement instructions (1-2 business days)

SAPI will provide you with

Current Outstanding Balance: The amount you owe as of current date
Payment Instructions: Bank account details and payment reference for your transfer

Important: Before the settlement is successfully made, we will continue collecting your repayments from each of your sales via the card terminal as normal. Therefore, if any overcharge occurs, a refund will be issued to your business bank account.

Step 3: Review and make Payment

After receiving instructions from SAPI team,

Please review if you are all aligned with the outstanding balance and instructions SAPI team provided. If there is any concerns, kindly email SAPI team with your concerns.
Once confirm all is good and you still wish to proceed, please follow below steps
1. Initiate a bank transfer from your business bank account to SAPI bank details
2. Transfer the exact settlement amount provided by SAPI team
3. Use the payment reference provided (critical for matching your payment)
4. Share a screenshot of successful payment to SAPI's email ([email protected])

Step 5: Wait for SAPI Confirmation (1-2 business days)

Once SAPI receives and processes your payment, you will receive

A Settlement confirmation email: Confirms your advance is fully settled and closed.
Final account statement

Once Your Account Is Fully Settled

Repayment Collection

Our system will be updated to stop collecting repayments from your account and you will receive 100% of your card sales. This process may take 1–2 business days. During this time, there is a possibility that we may still collect your repayment. If this occurs, we will promptly refund any overpaid amount to your business bank account.

Reapplying for Future Advances

Settling early reflects positively on your credit profile with SAPI. When you're ready to re-apply with SAPI, just reach out to our team.

Benefits of being a returning customer:
- Faster approval (often same-day)
- Potentially better terms (lower fee, higher advance amount)
- No need to reconnect payment processors or resupply documentation (if recent)

How soon can I reapply?
Immediately. There's no waiting period after settlement.

Frequently Asked Questions

Q: Is there a penalty for early settlement?
A: No. You can settle early at any time with no penalties.

Q: Can I negotiate the discount for early settlement?
A: Discounts can be considered but not promised. You can discuss your situation with SAPI's team by sending email to [email protected].

Q: What if I can't pay the full settlement amount in one payment?
A: Contact +44 20 3868 4990 to discuss options, such as a large partial payment or structured payoff plan.

Q: Will settling early help me get better terms on a future advance?
A: Yes, you might get a better offer as early settlement demonstrates strong financial management.

Q: Can I settle from my personal account instead of my business account?
A: Generally, payments should come from your business account. If you need to pay from a personal account, contact SAPI first to arrange and verify.

Q: How quickly do collections stop after settlement?
A: Collections stop in 1 - 2 business days after your settlement payment is processed.

Q: What if I request an early settlement but don't settle later?
A: No obligation. The collection for your advance continues normally. You can request another early settlement anytime.