When you process a credit card charge, the funds usually reach your bank account within 2-3 business days. However, the waiting period known as the time to funding varies, depending on the time of day you enter transactions, which financial institution you choose your transactions to be deposited to, and how long it takes for your bank to verify and process electronic deposits.

Intuit automatically batches and submits your credit card payments each day at 3:00 pm PST (6:00 pm EST). Check transactions are batched out at 1:00 pm PST (4:00 pm EST). However, in some cases, a batch may be suspended. For example, if there are returns in a batch for transactions that occurred prior to the return date, or if the total amount of the transactions exceeds the preset threshold, then the associated batch(s) will be delayed/suspended up to 6 calendar days.

Check transaction funding varies by the merchant and that information is provided during the initial application approval. Check customers may call us at 800-558-9558 to obtain this information.

Here's what's happening behind the scenes after a credit card charge is processed:

  1. Authorization. The amount is authorized against the cardholder's account to confirm they have the credit. (In cases where the amount is unusually large or as an added level of security, you may be prompted to telephone for authorization. Your call goes into the credit card voice authorization center, a central processing hub. But, it's the cardholder's issuing bank that actually authorizes or declines a transaction.)
  2. Settlement. The charge amount is actually submitted for payment later that day, when the charge is batched (submitted to the bank for settlement). Intuit does this for you automatically. At this time funds can actually start to move between accounts.
  3. Funding The money arrives in your bank account!  You usually receive payment within two business days.

On the second day of the settlement, your bank may notify you that Intuit has sent funds to your account. This doesn't mean that your bank actually cleared the funds. When funds are in this state, the Merchant Service Center shows the deposit status as Pending. When Intuit gets word from your bank that the deposited funds have cleared, status changes to Funded. So, if you're wondering about the status of your funds, search for deposits in the Merchant Service Center.

  If you void a transaction prior to batching, the authorization for that amount remains, placing a hold on the customer's credit for around 7 to 10 days (or up to 30 days, depending on the policies of the cardholder's issuing bank). So be careful when processing a charge, as even voided transactions can tie up your customer's credit.

Exceptions to 3pm auto-batching include: checks and payments received through QuickBooks Point-of-Sale version 10.0 and earlier, Cash Register Plus, Terminals, some RezOvation accounts, and some non-merchantlink accounts.

For additional information, see our support article: When do batches settle? When is the money funded to my bank?