Tyro Health manages the settlement of funds into your bank account for approved claim and payment transactions that are submitted for processing via the new GapOnly provider portal
Timing of Tyro Health settlements
Settlements are processed every business day for transactions approved the day prior. Settlements are paid the business day following a successful (approved) transaction. Note - weekends and national public holidays are not settlement days so claims approved over these periods accumulate and are settled on the next available business day.
All approved transactions for a day are paid as a single settlement amount into the nominated bank account in the GapOnly provider portal. Detailed remittance advice for all transactions included in a settlement can be found on the 'Remittance' page in the GapOnly provider portal, including the bank lodgement reference.
Cut-off times for approved transactions to be included in daily settlement
Funding source | Settlement cut-off time* |
Online payments (credit and debit cards) | 10pm AET** |
GapOnly claims | 10pm AET** |
* Transactions may be submitted prior to the cut-off but if approved thereafter, those will be included in the next processing period.
** AET = Australian Eastern Standard Time (AEST) and will adjust to Australian Eastern Daylight Savings Time during those periods defined for Melbourne, Victoria.
NOTE: Settlement into external accounts are processed using BECS (Bulk Electronic Clearing System) files. This is how financial institutes send data to each other to be processed. BECS-based settlement can have either a one business day or two business delay when being processed.
The type of bank can also affect how long settlement takes to be processed. Large banks, (e.g. CBA, NAB) normally process the settlement on the same day the BECS file is sent; depending on your banking provider it may take up to 3 business days to receive funds. Tyro has no control over how long it takes for the external bank to process the BECS file.
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