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eCheck (EFT) Processing Cycle & Timeline - Canada

An eCheck transaction takes 3-5 business days to process and is dependent on the customer’s bank (RDFI/issuing bank). Like card payments, eCheck transactions immediately update to approved status once successfully submitted to Payrix.

Unlike card payments, eCheck transactions are captured and settled on the day after they are approved. For example, if an eCheck payment is approved on Monday, it will capture and settle with Tuesday’s batch of transactions.

Furthermore, eCheck transactions differ from card payments as the settled status does not mean that an eCheck was funded yet nor added to the Merchant’s Available Balance to be disbursed to their bank account.

If an eCheck payment fails due to insufficient funds, incorrect bank account information etc. the transaction status will become returned. Because an eCheck payment will capture and settle prior to the transaction being funded, it is possible for an eCheck status to change to returned even after it was captured and settled.

How long does it take for a Merchant to receive the money for an eCheck payment?

The timeframe for an eCheck payment to be added to the merchant’s Available Balance varies depending on when it is processed and funded by the issuing bank. Generally, this occurs within 3-5 business days, and once funded by the issuing bank, the eCheck income will be disbursed to the merchant’s bank account as part of their next scheduled Withdrawal.

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