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  1. #1

    Question for funders

    Hello,
    If you are currently using a 3rd party service to pull ACH's from your merchants and dont want to wait 3/4 business days for funds to show up in your bank.
    Which bank would you recomend to turn to?

  2. #2
    Senior Member Reputation points: 81655
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    Quote Originally Posted by Dailyfrog View Post
    Hello,
    If you are currently using a 3rd party service to pull ACH's from your merchants and dont want to wait 3/4 business days for funds to show up in your bank.
    Which bank would you recomend to turn to?
    That is the time frame for any 3rd party - ACH - if you are receiving funds in 3 days, that's is very good, considering it takes at least 2 days for ACH rejections to be reported. General rule is 5 business days for funding.
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    Senior Member Reputation points: 18841
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    Some funders use banks that credit them the same day as the ACH pull, and returns are debited up to 5 days later. Others use the basic 3rd party companies that clear in 3 days. Unless you have good funding volume and consistent daily default numbers you aren't going to be able to partner with a bank, so count on 3 days being the quickest you see the money.

  4. #4
    Quote Originally Posted by Yankeeman07 View Post
    That is the time frame for any 3rd party - ACH - if you are receiving funds in 3 days, that's is very good, considering it takes at least 2 days for ACH rejections to be reported. General rule is 5 business days for funding.
    So i cant take action on an nsf/stop payment (reach out/ file etc.) without the minimum 2 days delay?
    That is why id like to work directly with a bank obviously.

  5. #5
    Quote Originally Posted by mca2150 View Post
    Some funders use banks that credit them the same day as the ACH pull, and returns are debited up to 5 days later. Others use the basic 3rd party companies that clear in 3 days. Unless you have good funding volume and consistent daily default numbers you aren't going to be able to partner with a bank, so count on 3 days being the quickest you see the money.
    i dont mind the delay in deposit i mind the delay in nsf/stop payment notification

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