A next day funding merchant account deposits money from transactions in less than 24 hours. This may seem like a common standard, but there are many accounts that withhold funds or deposit money days later. Having access to your revenue stream gives you the ability to withdraw capital and monitor cash flow quickly, so be sure to find a merchant account that provides rapid access to funds.
To get an account that deposits funds almost immediately, you’ll need to have both the technical capability and confirmation from your payment processor. From a software standpoint, you can find a gateway integration that supports instant transactions. In most cases, the limitation on funding access stems from your merchant account contract.
Talk with your payment processor to determine if your account is safe enough to streamline transactions. You may also consider other more rapid but less safe options such as accepting cryptocurrency as a form of payment. Most crypto integrations occur immediately and are sent to your wallet right after the transaction takes place.
The reason for delayed access is often to double check the security of transactions. For ACH transfers and credit card payments, there is approximately a two to three day window imposed in order to ensure there is no fraud, and that the money being transferred is approved. If you’re concerned about not being able to access funds, you may simply need to wait a few days in order for a transaction to fully process.
Another case may be that your merchant account has been dropped. If you’re a high risk merchant and signed up with an aggregate provider like PayPal, Square, or Stripe, then you probably broke the terms of your agreement, and will need to find other options such as Zen Payments.
Batch processing is when you submit all of your payment transactions in a group. It’s most common in the restaurant industry and is used as a way to decrease payment processing fees. Because the batch is usually made at the end of the night, it might slow down your ability to receive funds.
On the other hand, real time processing happens instantly. You’ll pay for each transaction you process instead of altogether so it can increase payment processing costs. If you’re looking for a next day funding merchant account then you may want to go with this type of processing.
To get a no reserve merchant account you’ll need to find a payment processor that offers low risk solutions. Oftentimes, high risk merchants request no reserve funds because there is a higher likelihood that some of that money may be lost. However, if you run a business with low return rates and aren’t at risk of bankruptcy, then you might qualify for no reserves.
When you open a merchant account and file and application your account will be reviewed by a team of underwriters. They determine the risk involved with your business bank account. In general, if you have large processing volume and a clean transaction history then you should see smaller reserve amounts or none at all.