The Merchant’s funds are sent to their bank account at 6 PM EST on the day following their batch settlement. For example, if the Merchant has a withdrawal scheduled for Tuesday, it will include their processing income for transactions submitted up until batch close on Monday evening (9:30 PM EST).
Generally speaking, when a disbursement is sent to a Merchant’s bank account at 6:00 PM EST, the funds become available to them the next morning, but this can vary depending on their bank. As an example, when a payout triggers at 6 PM EST on Tuesday evening, the money will hit their bank account no earlier than Wednesday morning and may take longer to process depending on the bank.
Once the payout triggers, a Disbursement Details report is generated, listing all of the transaction activity included in that payout.
Depending on the size of the report, this data may take a while to populate once requested and then processed - processing time varies and is based on how many entries are in the disbursement.
An entity that can process transactions and has been onboarded through a Payrix Pro Partner.
A group of captured transactions that are processed collectively by the acquiring bank for streamlined clearing and settlement of funds.
The final stage of batch processing, where transaction funds are successfully processed and deposited from the acquiring bank and its processor to the Merchant’s Available Balance for withdrawal to their bank account.
The process of creating a disbursement of FBO account funds to an entity’s registered deposit account. This process is also known as a payout.
The process when the Payrix Pro platform sends an ACH transfer to an entity’s (Merchant or Partner) bank account. A disbursement happens when an entity schedules a withdrawal (payout) from its Available Balance.
The process of creating a disbursement of FBO account funds to an entity’s registered deposit account. This process is also known as a withdrawal.
The movement of funds between a customer (cardholder or eCheck account holder) and a Merchant to purchase a good or service.