Credit Card Funding Cycles
One of the most common questions customers ask is: When will I get my money? The answer depends on the type of transaction processed and the funding time associated. This article reviews credit card funding times and will explain when credit card transactions will be deposited to your business bank account. For information on ACH funding time, click here.
Credit Card Funding Cycles
The credit card transaction funding cycle is comprised of three steps:
- Initiation Day: The day the transaction is entered and Authorized in PaySimple. The transaction will be sent to the processor when the batch automatically closes, at 11:00 pm ET, Monday-Friday.
- Day 1: The first day of processing.
- Day 2 (Settlement and Posting Day): The day your bank posts the credit card transactions from that batch to be deposited in your account. PaySimple changes the status of the transaction to Settled.
Funding Times
How quickly your transactions begin the funding cycle, and how quickly they move through that cycle, depends on the following three factors:
- Credit Card Type: Visa, MasterCard and Discover transactions follow the standard funding for credit card transactions, detailed above. Most American Express transactions also fund on this timeline. Depending on the setup of your Amex account, some customers will receive these transactions after one additional business day.
- Credit Card Batch Closing Times: All PaySimple credit card batches close at 11 pm ET, Monday - Friday.
- Your Bank's Policy for Posting Funds to Your Account: Each bank has a policy for when it makes funds available to its customers. Often, a deposit from your credit card processor is not posted to your account until the business day after it is received.
Typical Funding Times:
Use the following charts to determine when you will typically see a deposit in your bank account for credit card transactions processed using PaySimple. PaySimple will display a status of Settled for a transaction once the deposit has been initiated.
Credit card funding is based on business days. Funding time calculations are affected when banking institutions are closed. These charts assume that you have entered the transaction prior to the day's 11:00 pm ET batch cut off time and that no bank holidays fall within the funding time.
| Enter Day | Deposit Day |
| Monday | Wednesday |
| Tuesday | Thursday |
| Wednesday | Friday |
| Thursday | Monday |
| Friday | Tuesday |
| Saturday | Wednesday |
| Sunday | Wednesday |
Sometimes upon account activation or after an audit, your credit card processing account may be placed on a funding hold until the credit card processor reviews the account and verifies information. Learn more about this standard process here.
If you need to void a payment, you can do so the day it is entered before the batch closes. To do so, view the PaySimple article information on where to view your transaction status within PaySimple, click here. .