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04-26-2016, 10:20 AM #24
actually, there is no problem with this - why would you pull more payments past the 25th? who are you to pull more payments than you told your merchants you would in your own contract? you need to see if they clear and if they dont then proceed accordingly. pulling extra payments then returning it is floating the merchant's money.
i think 5 days is a little exaggerated too.. especially for bigger companies doing millions and billions of transactions a year you would think they would have a solid ach processor - smaller companies like mine do a fraction of that and after 12pm every day i only have 2 pending payments from previous days, and the one due to pull tomorrow - no matter on what bank the merchant has.
and as far as a weekend is concerned, friday's payment clears by 12pm wednesday the following week.Last edited by ADiamond; 04-26-2016 at 10:22 AM.
Anthony Diamond
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