For many businesses, weekends and public holidays are the best trading days of all. So it can be frustrating if you have to wait until Tuesday morning before your weekend takings are ready and waiting in your bank account.

That’s why the Commonwealth Bank has been working hard to ensure Australian businesses can settle merchant sales every day of the week. Now when businesses link a Commonwealth Bank merchant service to a Commonwealth Bank business transaction account, they will have access to each day’s takings by the end of the day every day of the year.

This means:

• Make a sale using your merchant terminal before 10pm AEST and you’ll have the money in your account on the same day – even on weekends and public holidays.

• Pay staff and suppliers faster, without drawing on your overdraft or personal funds.

• Save money by taking advantage of supplier’s potential early payment discounts.

• Free up cash that is tied up in your business, so you have more to spend or invest.

• Avoid running short of cash over the weekend.

• Simplify weekend trade reconciliation, with each day’s takings in your account on the day you make the sale.

“Not being able to settle accounts every day of the week is often a frustration of many small businesses, which is why we are especially excited to be able to offer Everyday Settlement,” said Kelly Bayer Rosmarin, Commonwealth Bank’s Executive General Manager of Business Products and Development, in a statement.

“Through this new service, the money a business makes today will go into their account that same day, no matter if it is a Saturday, Sunday or even a public holiday. Everyday Settlement will give businesses far greater control over their money, improving cash flow and facilitating simpler reconciliation. Combined with our Core banking technology, businesses can also get real-time access to those settled funds, including the ability to accrue value for them over the weekend.”

Everyday Settlement will be rolled out over the next few months.

Are you a small business owner who will be helped by Everyday Settlement?