05-29-2015, 11:21 PM
jdc wrote:
Square would have worked, but they have a deposit schedule that akes 2 days when you deposit on Friday = Monday.
Payments taken before 5 p.m. PT/8 p.m. ET will be available in your bank account the next business day.
Payments taken after 5 p.m. PT/8 p.m. ET will be available in your bank account by the second business day.
On Friday, the cut-off is 1 p.m. PT/4 p.m. ET. Any payments taken after 1p.m. PT/4 p.m. ET will be sent in the following deposit.
Deposits are not sent on Saturdays.
So it looks like if you swipe a card After 5 PM Thursday, doesnt go in until Monday. It looks like I would done it before that to get the $$ today. No money comes in on Saturday.
It is what it is, but I wonder about how long some of these "rules" should actually last? I mean these days we live in a 24/7 world, and the net allows us to work worldwide instantly anytime. You would think that banking might catch up with that fact and start offering deposits all the time, everyday, everyhour. Its not like theres some guy sitting in an office approving every deposit that comes thru a bank.
Im in Cali, and have clients in Portland, Seattle, Billings, Pontiac, Charlotte, Nashville and Sarasota -- 5 years ago I might not have thought that was even possible -- especially with large graphics. But no more. Fast net and Dropbox have made those limitations a thing of the past.
You gotta remember that the government has to squeeze itself between each transaction. That's why most purchases appear as "pending" when you check your online account. Checks have to "clear" the government clearinghouse as does each and every transaction. If they ever bust you for something, they'll have their proof (kind of a pun since it's proof operators that historically sent checks to clearinghouses). In one of my former lives I was an Operations Supervisor for a bank.