[FCF Fund]

It amazes me the amount of misinformation that is being posted. Lockboxes are bad for a merchant with numerous NSF Days?

Really? The purpose of a lockbox is to avoid ACH Requests Rejects, causing another NSF. A reserve for a Lockbox? Where did that information come from, why would you need a reserve? Changing Processors, some funders that are involved in the cc business may impose that condition, but not all.

Since I am heavily involved in the Credit Card Processing World, call me with any questions.

Paysmith requires a reserve. I believe they are run by Citibank and when doing a lockbox with them thats typically why most lenders require 1 to 2 batches before funding, aside from confirming the transition is complete.

[ADiamond]

Paysmith requires a reserve. I believe they are run by Citibank and when doing a lockbox with them thats typically why most lenders require 1 to 2 batches before funding, aside from confirming the transition is complete.

They are partnered with US Bank, and the reserve amount is up to the lender. The typical rule of thumb is to wait until a few batches show to ensure the client is batching normal volume. It will also take a good 48-72 business hours for the first batch to show once the switch in processing deposits is made.

Aside from that I am just amazed at how misinformed people are here in the process in general. People who claim to have been in the business for YEARS!