Settlement and Payouts on Paystack in Nigeria

Transaction Day	Settlement Day
Monday	Tuesday
Friday	Monday
Saturday	Monday
Sunday	Monday
Public holiday	Next business day

Settlement appears in your bank account by 10 AM on the settlement date. Your Paystack account must be fully verified and your bank account confirmed for automatic settlement to work.

// Create a transfer recipient (one-time per vendor)
async function createNGNRecipient(name, accountNumber, bankCode) {
  var res = await fetch('https://api.paystack.co/transferrecipient', {
    method: 'POST',
    headers: {
      Authorization: 'Bearer ' + process.env.PAYSTACK_SECRET_KEY,
      'Content-Type': 'application/json',
    },
    body: JSON.stringify({
      type: 'nuban',
      name,
      account_number: accountNumber,
      bank_code: bankCode, // e.g., '058' for GTBank, '057' for Zenith
      currency: 'NGN',
    }),
  });
  var data = await res.json();
  return data.data.recipient_code; // Store this in your database
}

// Send a payout
async function sendNGNPayout(recipientCode, amountNGN, reason) {
  var res = await fetch('https://api.paystack.co/transfer', {
    method: 'POST',
    headers: {
      Authorization: 'Bearer ' + process.env.PAYSTACK_SECRET_KEY,
      'Content-Type': 'application/json',
    },
    body: JSON.stringify({
      source: 'balance',
      amount: Math.round(amountNGN * 100), // NGN to kobo
      recipient: recipientCode,
      reason,
      currency: 'NGN',
    }),
  });
  return res.json();
}

This guide is part of the Paystack by country guide.

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