Next-Day Funding in Merchant Services – The Advantages of Getting Your Money Faster

Next-Day Funding in Merchant Services – The Advantages of Getting Your Money Faster

Next-day funding is one of the most beneficial services a payment processing partner can offer to your business. The standard funding hold imposed by most merchant services providers can easily eat up two to three days between the time you make a sale and the time that money lands in your bank account. That’s valuable time, and by eliminating it, payment processors that offer next-day funding – like BAMS – make it clear that your company’s financial health is their top priority, even if it means assuming a little more risk on their end. In addition to the reaffirmation of your processing partner’s commitment to your company’s success, next-day funding also offers a number of significant benefits to your business – both tangible and intangible. The following represent just three of those benefits and make it clear why the availability of next-day funding should be an important box to check off whenever you shop for a new merchant services provider. 

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Next Day Funding – How it Works and Why It’s So Important for Your Business

Next Day Funding

Access to cash might be the most important financial factor in any merchant’s long-term operational success. Yet, many merchants don’t consider how their selection of a payment processing partner will impact that all-important liquidity. The delay between the moment a sale is made and the moment that money becomes accessible in the bank – also known as the funding period – doesn’t always seem as pressing as things like transaction fees and hardware costs, but it plays a huge roll in everything from meeting obligations to sleeping well at night. Luckily, some payment processors offer shorter funding periods than others, and merchants with the right processing partners can gain access to their hard-earned money in 12 hours or less through a feature known as next-day funding.

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Next-Day Funding – What It Is and What It Means for Your Business

Next-Day Funding

Running a successful business is hard work, so it’s understandable that merchants want to enjoy the fruits of their labor as quickly as possible. But standard practices in the payment industry often require merchants to wait days – in some cases almost an entire week – to gain access to their money. That delay has the potential to be hugely damaging, especially during tight times and uncertain economic circumstances like those we’re currently navigating in the wake of a worldwide pandemic. Luckily, not all merchant accounts are created equal, and some payment processors offer merchants a respite from long hold periods in the form of next-day funding.  

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4 Ways BAMS Can Improve Your Cash Flow

BAMS Can Improve Your Cash Flow

Strong positive cash flow is one of the single most important factors in maintaining a healthy business, and anything you can do to boost and protect it is worthwhile. BAMS has designed a number of solutions to help ensure our merchants always have the positive cash flow they need to keep operations running smoothly and growth increasing steadily. Those include financial solutions aimed at directly impacting cash flow, as well as technological solutions provided by the free access our merchants get to IRIS CRM – the leading customer resource management tool in the payments industry. The following are four of the top features BAMS offers to help you ensure healthy cash flow, representing just a few of the unmatched benefits of partnering with us.

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Get Your Money Faster with a BAMS Merchant Account

Writing on whiteboard a lightbulb and currency symbols (next day funding concept).

The one thing better than getting money is getting it faster. It used to be that with merchant accounts, getting your transaction money in the bank in 24 hours was considered fast. After all, there are still a few companies out there that take 3 days! Now, however, even 24 hours is slow. That’s because it’s possible to have the money in your account in just 12 hours – next day funding.

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Next Day Funding: A 12-Hour Transaction Payment Time Isn’t Just a Dream

All About Next-Day Funding Merchant Account Services

Waiting for the next day, 24 to 48 hours for your merchant transactions to hit your bank account may not seem like a big deal when you first open a business. After all, a regular job would make you wait a week or two before you get paid. Soon, though, you will find that financial needs are different when you’re the owner of the company. Now, you have to have the financial flexibility to be able to pay for emergency needs right away or else start losing money.

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Make Sure Your Merchant Account Offers Next Day Funding

Woman using online banking on smartphone to see her next-day funding

Many merchant processors only offer funding for completed transactions with a two- or three-day delay. If you’re used to this, you may not realize how much this is affecting your business, but it shouldn’t take much thought before you can think of some problems it has caused. New businesspeople can also easily envision scenarios in which a delay in the funding of a bank account can cause plenty of problems. Here are some scenarios that are caused by funding lag:

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Faster Cash Flow with Next Day Funding

Faster Cash Flows with Next Day Funding

For businesses that use credit card payment systems, getting their funds is the challenging part. The standard cash flow payout system that banks give to companies sometimes inconveniences businesses when they urgently need the funds. Next day funding systems cut through this gap and offer companies their deposits a day earlier than normal. So, why do you need a fast payout?

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