Funding Flow and Process Outline
Payout - This is a scheduled event specifying when funds will be credited/debited and can be set to run daily, weekly, monthly, annually, or single for a one-off payment. Payouts can be setup via the API using the
/payoutsendpoint. For list of Payout available actions and fields reference the Payout API documentation.
Disbursement - This is the record of funds being credited or debited to/from the merchant bank account based on the payout schedule.
In the Payrix Portal a Payout is represented underneath Withdrawal Schedules and Disbursement events are represented underneath Withdrawal History.
Disbursements are generated daily at 6PM ET based on payout
start is the date specified and must represent a date in the future, or present date.
e.g - If a payout is created at 3PM and the
start is set to current day then at 6PM ET Payrix will generate a Disbursement.
Same-day disbursements have a 10:30AM ET daily cut-off.
skipOffDays: This value determines whether the disbursements are created on holidays and weekends to be released the next day that the ACH runs.
skipOffDaysis set to '0/Do Not Skip’ then the disbursements would be created each day during the weekend/holiday and then all disbursements created during that time frame would go out the next day that the ACH runs.
skipOffDaysis set to ‘1/Skip’ then disbursements will not be generated on the weekend and a single disbursement would be created the next scheduled date that the disbursements runs. This should only be setup on a Daily disbursement schedule.
e.g - If someone gets paid every Monday (
skipOffDaysis set to ‘1/Skip’) and Monday is a holiday, then they will get a disbursement the following Monday and not on Tuesday.
Disbursements are not processed on US holidays and weekends.
Holidays Include New Year's Day, Martin Luther King Jr’s Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.
Payrix submits batches daily to the processor for both Credit Cards and ACH transactions at 9:30PM ET. The batch composes of all sale and refund activity that has been captured so that it can be settled by the processor.
Transactions for the day processed after 9:30PM ET will be captured in the next day's batch.
Payrix can accommodate other batch times for Enterprise clients.
Assuming that the disbursement is set to 100% daily then Credit Card transactions should hit the bank account the next day. eCheck transactions generally have a 1-5 delay per industry standard.
Note: A transaction can be flagged as high-risk by the processor. If this occurs, then there may be a several day hold that can delay the transaction from being deposited to the merchant account. For questions regarding a transaction on hold or what constitutes a high-risk transaction you can contact our Risk & Boarding team via our Payrix Support Help Portal.