Do You Receive Next-Day Funding with Your Merchant Account?

Not all merchant accounts are created equal, and from fees – to support – to hardware, and beyond, there are countless factors that determine which is the best for you and your business. One of the most important factors is fund availability – how prompt your payment processor is in depositing the funds from sales into your bank account. Funding speed can vary significantly from provider to provider, and when choosing a processor, businesses looking to ensure their financial health should always look for next-day funding. 

What is Next-Day Funding

The simplest definition of next-day funding is money that becomes available the day after it’s deposited or, in the case of electronic payments, the day after a credit card transaction is processed. There are a number of factors that determine the availability of next-day funding, including, but not limited to, credit card type and the deposit structure of the payment provider. That means not all payment providers necessarily offer next-day funding, and many traditional merchant accounts actually require two, and sometimes even three days before funds from card transactions become available.  If your company is currently using a processor that doesn’t offer next-day funding, you stand to benefit greatly from switching to a provider that does. 

Benefits of Next-Day Funding

The obvious benefit of next-day funding is that you get your money faster. Cash is everything in business, and plenty of otherwise great companies have run into serious trouble due to choked off cash flow. Next-day funding ensures healthy cash flow so that your business will never have to worry about meeting payroll, settling accounts on time, or taking advantage of early payment discounts from vendors. 

Next-day funding is especially important for businesses with high volumes of weekend sales like restaurants or bars. Without next-day funding, the money from a sale made on a Friday evening might not hit the bank until Tuesday or Wednesday of the following week. With next-day funding, funds from weekend sales will be in the bank Monday morning, and the importance of having access to those funds a few days earlier can’t be overstated. 

BAMS Next-Day Funding Deposit Structure

BAMS understands the importance of cash flow and next-day funding to our clients, and that’s why we’re committed to ensuring your money gets into your bank account as quickly as possible. The BAMS deposit structure ensures that transactions batched out by 9:00 pm today will be available in the bank by 7:00 am on the very next business day. That applies to all major credit cards – Visa, Mastercard, Discover, and even American Express – and it means your money could be in your account in less than 12 hours! Transactions batched after 9:00 pm will be processed for deposit the following business day, and then available by 7:00 am the day after. So even your late-night transactions will hit your accounts faster than any transaction would with many other traditional merchant accounts. 

If you’re ready to start receiving your hard-earned funds faster, bolstering your cash flow and easing your mind as a manager or owner, contact us today to find out how to get started. Or, if you’d like to see how BAMS can not only get you paid faster but also reduce your transaction fees and make you more money, click here to take advantage of our unique five-point price comparison system and our low price guarantee!