Name the break before you chase the money
Timing, fees, FX, holdbacks, and refunds look identical as “unexplained” until you label them. How we structure a settlement break taxonomy.
Field notes
Writing from the settlement desk
Short pieces on breaks, files, and diligence — drawn from audits with payment companies, not product marketing.
Late clearing files and quiet payout holds
When a clearing file arrives after payout cut-off, some stacks silently hold merchant funds. Others pay and reverse. Both need an explicit policy.
Fee schedule drift in HKD corridors
Scheme fees, processor markups, and merchant rate cards drift out of sync. Small residuals become unexplained balances.
What sponsors ask about settlement first
Banks and scheme partners open with exception ownership, reconciliation cadence, and evidence speed — not architecture diagrams.