Funding Flow and Process Outline

Terms

Payout - This is a scheduled event specifying when funds will be credited/debited and can be set to run daily, weekly, monthly, annually, or single for a one-off payment.
Disbursement - This is the record of funds being credited or debited to/from the merchant bank account based on the payout schedule.

In the Softrip Payments Portal a Payout is represented underneath Withdrawal Schedules and Disbursement events are represented underneath Withdrawal History.

Disbursement Overview

Disbursements are generated daily at 6PM ET based on payout start. The start is the date specified and must represent a date in the future, or present date.

e.g - If a payout is created at 3PM and the start is set to current day then at 6PM ET Softrip Payments will generate a Disbursement.

Same-day disbursements have a 10:30AM ET daily cut-off.

Disbursements are not processed on US holidays and weekends.

Holidays Include New Year's Day, Martin Luther King Jr’s Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.

Payout Overview

Softrip Payments submits batches daily to the processor for both Credit Cards and ACH transactions at 9:30PM ET. The batch composes of all sale and refund activity that has been captured so that it can be settled by the processor.

Transactions for the day processed after 9:30PM ET will be captured in the next day's batch.

Assuming that the disbursement is set to 100% daily then Credit Card transactions should hit the bank account the next day. eCheck transactions generally have a 1-5 delay per industry standard.

Note: A transaction can be flagged as high-risk by the processor. If this occurs, then there may be a several day hold that can delay the transaction from being deposited to the merchant account. For questions regarding a transaction on hold or what constitutes a high-risk transaction please contact the Softrip support team.