How do I Qualify for Same-day Deposits on Credit Card Sales?
To qualify for same-day deposits—also known as same-day funding—you must meet specific prerequisites and adhere to strict daily deadlines. At a minimum, your business needs an active, fully approved merchant account and typically a processing history of 3 to 6 months, although we can sometimes help established businesses qualify faster through our same-day setup process.
Key requirements to qualify and maintain same-day funding include:
- Batch Cutoff Awareness: This is the most critical factor. To receive funds the same day, you must submit your transaction batches early, often by a 2:00 PM ET cutoff. If you miss this window, funding typically moves to the next business day.
- Verified Documentation: You must provide proof of ownership, such as a business license, Employer Identification Number (EIN), or articles of incorporation, and have your business bank routing and account numbers verified.
- System Activation: If you use a Clover POS, you must manually enable this feature. Navigate to Settings > Deposits > Same-Day Funding within your portal and ensure your deposit methodology is set to ACH for faster settlement.
- Underwriting Approval: All accelerated funding options are subject to an underwriting review of your business history and risk profile.
Please note that same-day funding may involve higher fees than standard next-day funding. We recommend setting automated batch closing on your POS system to ensure you consistently meet the required deadlines for your cash flow needs.
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