Everyone knows how important cash flow is to a business’ survival, this includes cash, check and credit card sales. Credit card transactions, however, need to be “batched” out of the equipment FIRST to the merchant provider then it goes to your bank for deposit. In order to get that money into your bank for Next Day Funding, you need to close that daily BATCH or SETTLEMENT before a certain time. Merchant Processing Solutions Inc. offers Next Day Funding to all its merchants.
How can you get YOUR FUNDS fast?
1. Avoid Keyed Transactions as Much as Possible
2. Stay Within Your Processing Limits (Always let your rep know the amount of a high transaction)
3. Get Documentation for High-Value Transactions (Driver’s License, Photo, Copy of back & front of credit card, signed receipt & signed authorization to run that credit card.)
4. Minimize Your Chargebacks – (Know your customers, check their IDs)
5. Watch your Batch Times (You MUST close by a certain time to get paid the next day!)
6. Choose a Processor with Fast Funding Times – Merchant Processing Solutions Inc.