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How long does it take for your company to transfer money into my account?


Question

Taking into account that my business requires "high-risk POS terminal", how long does it take for your company to transfer the funds into my account?

Answer

Regarding your query we inform you that first our IPSP will have to value a level of risk of your commercial activity. If your business is high risk and the time period of service delivery to your clients is more than one week, then you will be offered 4-weeks payment cycle. However, keep in mind the following, the IPSP will not really keep your money for 4 weeks. For example, if you make sales at the beginning of the month, on February 5th, revenue will be withheld during 4 weeks, but when you get closer to the end of your billing period, for example you make sales on the 25th-31st day of the circle, the IPSP will transfer your funds within 5 days.

In reference to low-risk POS terminal, payment circle is usually 2 weeks and the transfer payment system will be the same as the high-risk one but with a shorter payment period. 

The reason why the payments are made based on circles,  is to avoid large number of reversal payments or chargebacks. The policy of our IPSP partners regarding chargebacks is very strict and if a commercial activity of a client involves high number of chargebacks, the payment processing service will be interrupted without prior note. We motivate all our clients to provide clear explanations about the product and follow the steps included in our article about "How to prepare my online store website to accept card payments?"



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