We offer Net Deposits for Deposits and Processing Fees associated with your Merchant Processing Account.

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Understand Net Deposits

What are Net Deposits?

• Net Deposit will include the sum of all Credit Card payments made minus all applicable processing fees.

What happens when I process a Refund?

• In addition to the daily Net Deposit transaction, you'll see a second transaction that includes refunds. If no refunds were processed the previous day then you should not see a second bank transaction.

What will show on my bank activity?

• My Clients Plus Merchant Deposit: Deposit of Credit Card transactions processed in My Clients Plus.
• My Clients Plus Transfer: A Merchant Refund that will debit your account for a Refund you have issued to the Client.

When do I receive my Net Deposit?

• Deposits are dependent on when the payment is disbursed from My Clients Plus and registered by your bank. The Disbursement date is different the your Bank Deposit Date.
• Credit Card Payments processed in My Clients Plus BEFORE 5pm EST will be lumped into one payment Disbursed from My Clients Plus at 5pm EST. Typically your bank will register the Deposit the next day, although, depending on your bank it may take more time.
• Credit Card Payments processed in My Clients Plus AFTER 5pm EST will be lumped into the next days payment disbursement (the next day at 5pm EST) and will be registered by your bank after that.
• See below for examples and caveats.

Example of Net Deposit

You (Provider) charge 3 Clients on Wednesday:

• Client 1: $100 (at 10am EST)
• Client 2: $50 (at 3pm EST)
• Client 3: $75 (at 6pm EST)

Thursday's Deposit:

• $145.37 (Client 1: $100 PLUS Client 2: $50, MINUS Processing Fee $4.63)
  NOTE: Client 1 and 2 were charged BEFORE 5pm EST so the deposit was lumped into Tuesday's Deposit

Friday's Deposit:

• $72.68 (Client 3: $75 MINUS Processing Fee $2.32)
  NOTE: Client 3 was charged AFTER 5pm EST so the deposit was lumped into the next day's Deposit.

1. Daily lump sum of all fees associated with the transactions are withheld from the deposit amount received.
2. A daily lump withdrawal for refunds processed the day prior (or anywhere between 1-3 business days prior, depending on the bank) will be debited from your account.

Chart below shows the possible days when a bank account credit might happen:

Bank Transaction Types:

• Credit: A transaction type that will increase your account balance.
• Refund: A transaction type that will decrease your account balance.