Deposit general information
- Our third-party payment processing partner is Payrix.
- Payrix handles all financial transactions and is responsible for processing your deposits.
- As the "money manager," Payrix is responsible for all PCI compliance with federal and banking rules and regulations.
- The default deposit schedule is once a month.
- For monthly deposits, settlement cutoff time is on the 2nd of the month with a deposit date of the 3rd.
- Organizations that process more than $7,500 per week qualify for a weekly deposit.
Transaction Settlement Time
Payrix submits transaction settlement batches daily to the processor for both credit cards and ACH transactions at 9:30 PM EST. Each batch is composed of all sale and refund activity that has been captured for processor settlement within the daily period.
- Transactions processed after 9:30 PM EST will be captured in the next day's batch.
- Once card payments are settled, the Merchant's account is funded the next business day.
- Once ACH payments are settled, the Merchant's account is funded within 3-5 business days.
- Transactions that do not meet the settlement time threshold criteria will be held until the next deposit period.
What's Included in your Deposit?
- Any transaction that was not included in your last deposit due to settlement timing.
- All settled transactions between the day after your last deposit and the day of the current deposit period.
Roughly this looks like: transactions after 9:30 PM EST on Feburary 1st through 9:29 PM EST of the March 2nd.