In Next Day Funding

Businesses who accept credit card payments are at the mercy of the credit card company when it comes to having access to their money. It’s not uncommon that it takes a week or even more before the money from a credit card sales are credited to your bank account. This can be harmful to small business or startups who need every penny to continue operations. Credit card processing services that offers next day funding* can make a tremendous difference to the cash flow of a company.

Credit card transactions are posted to the bank account after a specific cut-off time each day. Some credit card processors set the cut off time at 6 pm, while others stretch it to as late as 11 pm. Transactions processed by the cut-off time just means the batch of transactions has been submitted for processing.  The processor then typically holds the funds 2-3 business days before making the deposit to the merchant’s bank account.  With next day funding this delay is eliminated and the money will be deposited in the business account the next business day. Transactions processed on Saturday and Sunday are treated as if they were settled on Monday for Tuesday deposit, only with next day funding.

Many businesses do most of their sales in the evenings or over the weekend. Having to wait the extra business days can lead to a week’s delay to have access to their funds which can have a detrimental effect on a business’s ability to operate. This can be even more problematic over long, three day or holiday weekends. For example, with traditional funding if you have transactions on a Friday night of a holiday week, with traditional funding the business would not typically see the deposit until the following Friday.  In situations where cash flow is tight, next day funding can be a business lifesaver and be the difference between making payroll or bouncing checks.

Today, credit and debit cards are a way of life, and merchants have to accept credit card payments in order to keep customers happy. That doesn’t mean they should have to wait for weeks to receive the money owed to them.  Leap Payments offers next day funding to ensure that you get paid as quickly as possible, to keep your business running in tip-top shape.

*Next day funding is not guaranteed for all merchant accounts. Available only for qualifying merchants. To see if you qualify, call (800) 993-6300 now and speak to an account specialist.

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