Calculate Deposit Date for Credit Card Processing (ARB) using Authorize.NET?

Question

Our app handles credit card processing and ARB using Authorize.NET. For our QB Integration, we need to calculate the bank deposit date, based on the transaction processed date.

I understand how merchant accounts work, and that the Merchant Account providers is actually the one that determines when to deposit funds. But I assume that there are some general rules that will work 90% of the time, such as: deposit is only on business days and one business day after the transaction processed date.

What other general rules have to be taken into account and how have other implemented this?

Also, are deposits for ARB transactions handled differently?

Thanks.

Answer 1

You need to contact your merchant account provider to find out the exact deposit times but the following should apply to most merchant accounts (the reason it may be different is some merchant account banks have direct relationships with consumer banks and as a result deposits can be made in as little as one business day). Visa and MasterCard take two business days from the date of the transaction to be deposited into your checking account. American Express and Discover Card take up to three days.

Deposits for ARB are handled the same as any other transaction as they are not any different. They're just automated is all. They still have to go through the same authorization and capture process as any other transaction.