An account per client, so money reconciles on arrival
A settlement account gives each client, customer, loan or landlord its own reference point, so a payment is identified the moment it lands rather than matched by hand later. For anyone holding money that belongs to someone else, it is the difference between a clean ledger and a spreadsheet.
What it is
Settlement accounts, including virtual accounts, let you present a unique account or reference per client, customer, loan or property. Money paid to it is automatically attributed to that entity on arrival, and money paid out from it is segregated from everything else.
Credit Canary orchestrates these accounts through a regulated partner; we connect and reconcile them, we are not an account provider or a bank. Where client-money safeguarding applies, the regulated partner and the arrangement determine the wording.
Where it wins, and where it doesn't
- Brokers and agents holding money for several clients at once
- Inbound debtor or tenant payments that must reconcile automatically
- Marketplaces splitting settlement between parties
- Keeping client money segregated and auditable
- A simple single-merchant take-a-payment flow, where a rail is enough
- Cases where no money is held on behalf of others
Cost shape
Settlement accounts are account-based rather than per-transaction, so the cost shape is a structure you run rather than a fee per payment. We quote it as part of the overall volume picture.
We quote on volume, not per rail. No price points here by design.
Failure and risk
The control the structure buys is the point: segregation reduces the risk of commingling client money, and automatic attribution removes the manual matching where errors creep in. Where safeguarding of client money is required, that sits with the regulated partner and the arrangement.
Best for
The industries where this rail does the most work. Each one has its own payment mix.
One ledger across every account
Credit Canary presents the accounts, attributes every inbound payment to the right client or loan on arrival, segregates outbound money, and posts it all to one reconciled ledger. You see cleared and pending balances per account in one place, instead of a different portal for each.
Settlement accounts: FAQs
A unique account or reference you present per client, customer or loan, so money paid to it is automatically attributed to that entity. It gives you the reconciliation of many accounts without opening many real ones.
That depends on the regulated partner and the arrangement, and we only describe them that way where it is confirmed. We orchestrate the accounts; the account provision and any safeguarding sit with the partner.
Anyone holding money for others: brokers, lettings agents, invoice financiers, marketplaces. They turn a pile of unattributed inbound money into a reconciled ledger.
No. We orchestrate accounts provided by a regulated partner and reconcile the flows. We are not an account provider or a bank.
Give every client its own reference
Tell us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.