Forums: Discussions for entrepreneurs and small business.

Hi Everyone!

I was wondering what the typical transfer rate is for credit card processors.  Mine seems to take a long time between the time the order is placed and the time and money is deposited into our bank account.  Sometimes it can take well over a week which seems like a long time.  I was wondering if that is typical.  My only point of reference is our paypal account which is much faster, typically 2-3 days.

Thanks!

Tracy

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Tracy Barnhart, Owner
Giverny, Inc. / Mini Me Geology
http://www.GivernyOnline.com
http://www.MiniMeGeology.com

"Typical" reimbursement time is 2 business days.  Note weekends and holidays are not 'business' days--do not confuse with 'calendar' days.  Howsever, what the schedule is in  your unique case may or may not be 'typical'---that depends on decisions and policies of  your processor, who you should call to get the definitive answer.  It is not uncommon for processors to put additional 'holds' for certain types of merchants, usually high risk types or those with below average credit--in other words, high risk scenarios.  Your processor may well have placed  you on a five-day (or longer) reimbursement schedule.  If that's the case and you do not fall into any of the 'high risk' categories mentioned above, then it's time for you to go shopping for a new processor. Hope this helps.  Incidentally, the 'typical' times quoted are for Visa and MC--American Express is typically a day or two longer.

AMSPCS

amspcs@juno.com.