Submit Funding Instruction Files by Cut-off
Is there enough time to submit instructions before cut-off?
You distribute the funds to your merchants by submitting a Batch and/or Online file containing Funds Transfer Instructions (that file can contain only funding instructions). You submit these instruction files based upon your payout agreements with your sub-merchants (daily, weekly, monthly, etc.). The final cut-off time for submission of funding instructions is 7:00 PM ET (or 12:30 PM ET today, if you are using Same Day Funding).
If you are using Same Day Funding, you must submit the Batch and/or Online files prior to 11:00 AM ET. If you miss the 11:00 AM ET cut-off, you can still submit funding instructions prior to 12:30 PM ET, the final cut-off time. You must allow adequate time for the processing of the transactions (i.e., it is unlikely a batch of 100,000 same day funding instructions submitted at 12:29 PM would make the final cut-off).
FastAccess Funding is a method for Payment Facilitators to disburse money to a sub-merchant’s Visa or Mastercard debit card instead of an ACH based DDA account. This allows funds to be settled every day of the week (vs ACH which only supports weekday settlement) and within minutes rather than days.
For Canadian Dynamic Payout, funds are processed with multiple same-day EFT cut-offs (three windows throughout 24 hours, Monday through Friday). The cut-off time for submission of funding instructions for Canadian Dynamic Payout is 5:00 PM ET.
Dynamic Payout requires that a balance covering the amount of each instruction be available in the PayFac Developer’s FBO account. A Payment Facilitator can submit instructions as long as funds are available to meet the request. This means that it is not necessary to wait for the previous day’s transaction activity to be deposited as long as there is a reserve in the FBO account. FastAccess Funding instructions are always delivered in real-time, so they will draw down the available balance in real time.
Confirm Successful Receipt of Batch or Online Files