⚠️This article is applicable to storEDGE customers using Storable Payments to process payments.

Transactions move through several statuses between the time you initiate a payment and the time the money is funded to your bank account. The timing of when funds are deposited to your account depends on when the transaction was processed and whether it was a credit card or ACH transaction.

Statuses

You will see the status of each transaction by navigating to Payments from the Corporate level of your storEDGE account. You can find more information about the reporting available on the Transactions page in our article: Where can I find my Storable Payments data? 

Please note: Funds from a transaction are not deposited to your bank account until after the transaction has reached the Settled status. 

Approved 

Approved indicates that the payment was authorized by the card issuing bank. The bank has confirmed the availability of the funds and validated the cardholder’s submitted CVV & AVS (address) information. 

Captured 

Captured indicates that an Approved payment has been sent to our processing bank as part of the daily batch to begin the process of transferring funds to your account.

Settled

Settled indicates that the process of transferring funds between the cardholder and your account is now complete and the deposit to your account has been initiated. You will receive the deposit in your bank account the day after the transaction enters the Settled status. Please see the example timelines below for more details.

Returned

This status is applicable for ACH payments only. After an ACH payment successfully processes, the issuing bank typically has 2 business days to issue a Return. This could occur if the ACH bank account information was invalid or there were insufficient funds. If this happens, the original ACH transaction moves to the Returned status and the funds are deducted from your bank deposit total amount. We'll send a notification to your chargeback email address. 

U.S. facilities

Credit card processing timeline

Credit Card payments are typically funded 2 days after they are initiated. 

Please note: Payments initiated on Fridays will be funded on Mondays. 

Example timeline:

ACH processing timeline

ACH payments are funded 3 days after they are initiated.

Example timeline:

Canadian facilities

Your daily deposit will include payments taken from 12 a.m. to 11:59 p.m. UTC at each of your facilities. Credit card payments are typically funded 3 business days after they are initiated.

Negative balance flow

From time to time, your merchant services account might experience activity that results in a negative balance. Such events include a refund, chargeback, ACH return, etc. On days when you have offsetting credit card processing, these debit transactions will take away from your available balance, and your bank account will be funded for the day’s processing, less the debiting event (refund, etc). On days when there is no offsetting activity, the negative balance will remain on your merchant account until there is credit card processing to pull from. However, if the debit activity surpasses $5,000 or the negative balance remains on your merchant account longer than ten days, it will be pulled from your bank account on file.