How do I know if funds have been deposited into my merchant account?
Jul.13, 2008 in
Investing
kaden asked:
How do I know if funds have been deposited into my merchant account? and can you refer merchant account providers(ehem free would be great!) that can deposit funds at the shortest time possible?
How do I know if funds have been deposited into my merchant account? and can you refer merchant account providers(ehem free would be great!) that can deposit funds at the shortest time possible?
July 14th, 2008 at 6:03 am
lol. go call them and find out. jeeze
July 17th, 2008 at 6:40 am
Usually you have to confirm with your bank by phone, or just trust them to deposit your funds (hehe). Also it depends on the time frame set by your bank. Delays are common (around 2 days) but some merchant account providers promise a shorter waiting time - try
July 20th, 2008 at 6:06 pm
Whenever you process a sale and get an approval you can expect the funds to be deposited into the bank account you specified in the application you completed within two business days of batching out your terminal for Visa and MasterCard. American Express and Discover Card can take up three days to fund.
Now some banks have a special relationship with some processing banks and in those cases you can receive your funds within one business day. If the bank you have your bank account through has a relationship with your processing bank you may be able to get your funds this fast. You will need to ask the merchant account provider if this applies to your bank.
If a processing bank takes more then two days to deposit your funds you might want to consider moving to a new processor. Although delays in funding do happen they are rare and should not occur regularly.
To verify you have received your funds simply login into your bank account through their website, or even go in and pay them a visit, to see if a deposit has been made.
July 21st, 2008 at 12:28 am
Good day!
You will get a confirmation once money has been deposited in your merchant account. If you’re the one who personally made the deposit, you’ll be given a confirmation receipt. If you were not given, ask for one. if you were not the one who made the deposit, you can always call your bank & verify. A piece of practical wisdom, always keep your receipts in a safe place so you’ll have something to verify with.
Goodluck on your future endeavors.