General Information
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.