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Funding Schedules for Merchants
Understanding the structure of funding schedules proves helpful in terms of anticipating the cycle and deposit of settled payouts. This article illustrates the funding time window for merchants. As always, please refer to the most recently signed, Final Exhibit B to review an account’s funding schedule.
5 Business Days
- • Day 0 – Merchant submits to Actum their entries prior to the cutoff time and Actum originates the entries to the ODFI.
- • Days 1, 2, 3 and 4 – HOLD
- • Day 5 – Transaction settles.
- • Day 6 – Actum originates the payout to the merchant.
- • Day 7 – Payout is received (exact receipt date is up to merchant’s bank).
4 Business Days
- • Day 0 – Merchant submits to Actum their entries prior to the cutoff time and Actum originates the entries to the ODFI.
- • Days 1, 2 and 3 – HOLD
- • Day 4 – Transaction settles.
- • Day 5 – Actum originates the payout to the merchant.
- • Day 6 – Payout is received (exact receipt date is up to merchant’s bank).
3 Business Days
- • Day 0 –Merchant submits to Actum their entries prior to the cutoff time and Actum originates the entries to the ODFI.
- • Day 1 and Day 2 – HOLD
- • Day 3 – Transaction settles.
- • Day 4 – Actum originates the payout to the merchant.
- • Day 5 – Payout is received (exact receipt date is up to merchant’s bank).
2 Business Days
- • Day 0 – Merchant submits to Actum their entries prior to the cutoff time and Actum originates the entries to the ODFI.
- • Day 1 – HOLD
- • Day 2 – Transaction settles.
- • Day 3 – Actum originates the payout to the merchant.
- • Day 4 – Payout is received (exact receipt date is up to merchant’s bank).