Settlement Schedule

This settlement schedule is an example for merchants that close batches at midnight which is our default settlement time and will result in standard 3 business day funding. If you settle batches before 7pm CST, then transactions processed prior to the settlement batch time will settle one day sooner (2 business day funding). 

The Transaction Activity Date is the day the transaction is actually processed in iClassPro or on the terminal.

Note: There are no settlements/transfers on bank holidays. Settlements that fall on bank holidays will settle the following business day and then resume the normal schedule. 

The Settlement/Transfer Date is the date we initiate the funds transfer to the bank account. It usually posts to the account the following banking business day.

The Bank Post Date is the day of week that we expect the transfer to be reflected in your bank account.

Card Not Present (CNP)/ eCommerce Processing

These transactions are processed online through iClassPro. They should show up on the iClassPro Bank Deposit reports, the payment gateway, and the merchant portal.

Transaction Activity Date(s)

Settlement / Transfer Date

Bank Post Date

Thursday, Friday, Saturday

Monday

Tuesday

Sunday

Tuesday

Wednesday

Monday

Wednesday

Thursday

Tuesday

Thursday

Friday

Wednesday

Friday

Monday

 

Card Present (CP)/ Terminal Processing

These transactions are processed using a terminal. They should be entered in iClassPro using the payment type “External Credit Card Device”. They will show up in the merchant portal but they will not show up in the payment gateway.

Activity Date(s)

Settlement / Transfer Date

Bank Post Date

Thursday

Friday

Monday

Friday

Monday

Tuesday

Saturday, Sunday, Monday

Tuesday

Wednesday

Tuesday

Wednesday

Thursday

Wednesday

Thursday

Friday



To find out more information about our recommended method of accounting for the transfers posted to your bank account, visit our article on Reconciling Using a Clearing Account. 

Need More Assistance?

Call us at 877-554-6776. Our business hours are Mon-Fri 9am-9pm Central Standard Time.