Flow of Money

Pre-authorized debit transactions do not transfer funds instantly. Each transaction will take five business days, from the processing date, to settle into your account. We recommend scheduling transactions one day in advance of the desired process date to ensure they process on the desired date.

Processing funds

The processing date of a transaction is the date that the funds will be withdrawn from your customer's account. There is no processing on holidays or weekends. Any transaction scheduled to process on a holiday or weekend will only be processed on the next available business day.

Transactions are batched at 11 am CT every business day and are posted in the Canadian Banking Network or US Banking Network later that same day. This is the cut-off batch for same-day processing. Any transactions created after 11 am CT will not be processed the same day.

A second batch is also done at 4 pm CT every business day for CAD transactions. These are posted on the banking network early the following morning.

There is no specific time when the funds will be withdrawn from your customer's account, as this depends on the communication between the customer’s bank and the central bank.

Settling funds

The settlement date of a transaction is the date that the funds will be deposited into your account.

We wait until the fifth business day to settle the funds because declined transactions can come back up to three days after a transaction has been posted for processing in the banking network. Holidays and weekends do not count toward the five business day count.

There is no specific time when your settlement will arrive in your account, as this depends on the communication between your bank and the central bank.

Ex. A transaction processed on Monday will receive a settlement on Friday. A transaction processed on Tuesday, will receive a settlement on the following Monday.