Credit card deposits are routed to your bank within 1-2 business days after settlement. Your bank will post the funds to your account within 1-3 business days after that. Therefore, you should see the funds post to your bank account within 2-5 business days after the transactions have been processed. The description on your bank statement for the deposit will be "bankcard merchant".

When a Bank EFT is processed, the funds typically take 7-10 business days to post to your bank account (because your patient's funds need to clear before our processing bank releases the money to your bank). Bank EFT deposits will appear on your bank statement as "Paya Repayment". Bank EFT fees will appear on your bank statement as "Paya Month End".

Credit Card Deposit Example #1: (Non-holiday)

• Batch is settled automatically Monday night (Non-holiday)
• Funds are processed by the processing bank (Paya) the next business day - Tuesday (Non-holiday)
• Funds sent to merchant's bank the next business day - Wednesday (Non-holiday)

Credit Card Deposit Example #2: (Weekend)

• Batch is settled automatically Friday night (Non-holiday) as well as Saturday and Sunday night (if you had payments processed these days).
• No funds are processed over the weekend
• Funds are processed by the processing bank (Paya) the following business day - Monday (Non-holiday)
• Funds from Friday's, Saturday, and Sunday's batches are sent to the merchant's bank the next business day - Tuesday  (Non-holiday)

Credit Card Deposit Example #3: (Weekend plus holiday)

• Batch is settled automatically Friday night (Non-holiday) as well as Saturday, Sunday, and Monday (Federal holiday) night (if you had payments processed these days).
• No funds are processed over the weekend, or Monday (Federal holiday)
• Funds are processed by the processing bank (Paya) the next business day - Tuesday
• Funds from Fridays, Saturdays, Sundays, and Mondays batches are sent to the merchant's bank the next business day - Wednesday.

 

Cash Practice® processes payments through Paya, in partnership with WorkWell™ Industries.

For more information visit [Systems]→ [Auto-Debit System®]→ [Resources]→ [Merchant Statements] when you're logged into CashPractice.com