Timing and availability
Confirm the processing cutoff, business-day schedule, bank holidays, and any holds. A transaction being authorized does not mean the funds are already available in the merchant’s bank account.
THE OPERATING DETAILSFollow the payment.
Follow the payment.
Understand the deposit.
A useful payment setup includes a clear explanation of settlement, reconciliation, reversals, and refunds.
A CLOSER LOOK
Details worth knowing.
Clear information for the next step in your decision.
Reconcile the full amount
Compare transaction reports with receipts, fees, adjustments, and bank deposits. Ask for an explanation of any rounded amounts or cash change and how these are represented in the records.
Handle corrections deliberately
A reversal and a later refund may follow different procedures. Ask who initiates each action, which fees are returned, how long it takes, and what the customer should expect to see.
Confirm your funding schedule and refund procedures in the provider agreement.