Applies to: Broadlume Payments
When can I expect to receive the funds for my Broadlume Payments transactions?
Does Not Cover: Cyncly Payments, Cyncly Pay, or Payments Flex
Broadlume Payments Funding Procedure
● For Card Not Present Transactions, funds are deposited the following business day, assuming the transactions were run before the day’s batch closing. Transactions are batched each business day at 8 p.m. EST.
● Card Present Transactions will be deposited within 48 hours, assuming the transactions were run before the day’s batch closing. Transactions are batched each business day at 8 p.m. EST.
● ACH transactions will fund in 5 business days. ACH as a payment method does not support an authorization capability, which inherently increases the risk of ACH rejects—particularly in the context of fraud. This delay allows time to monitor risk and capture fraudulent transactions.
● The merchant can expect to see funds available in their account by 5 pm EST the following business day. This may vary depending on the merchant’s bank. While some may see the funds early in the day, others will be funded towards the end of the business day.
● Broadlume has no control over when the bank makes the funds available, but in most cases, it should be well before 5 p.m. Merchants who want more information are encouraged to contact their bank directly. Broadlume cannot assist with this aspect of transaction funding.
● “Business day” is defined as any Monday - Friday except for federally recognized US holidays.
MERCHANT ELIGIBILITY
Merchants eligible for NDF (Next Day Funding) must not have a poor credit history, should have a clean debt record (i.e., no delinquent debt or bankruptcies), and should have low occurrences of ACH rejections or CC chargebacks. The processor reserves the right to approve or reject a merchant’s NDF status at its sole discretion and at any time.