Settlement times on ShulCloud's SIP gateway are slightly different than the original Integrated Gateway. *Please note that the first transfer of funds from the SIP gateway to your shul's bank account is held for 7 days to verify the account as a security protocol by the processor.*
Credit Card Payments/Settlements
Credit card payments take 2 business days to fully settle and be deposited to your bank account as long as the payment is made before 8:00 pm EST. Credit card payments are indicated by a pi_ at the beginning of the transaction ID. ACH payments are indicated by a py_ at the at the beginning of the transaction ID.
Below is a chart indicating the flow of a payment from creation to being deposited in your bank. Using this example: If a payment/charge is created on Monday prior to 8:00pm EST then the funds will be deposited to your bank account on Wednesday. The payment in ShulCloud will also autobatch on Wednesday to correspond with the date that the funds were received.
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Automatic payouts for credit card and ACH (after 7/12/2021) transactions (T+2) |
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Sunday |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Saturday |
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Charge created |
Payout created |
Monday Funds deposited in bank account |
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Charge created |
Payout created |
Tuesday Funds deposited in bank account |
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Charge created |
Payout created |
Wednesday Funds deposited in bank account |
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Charge created |
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Payout created |
Thursday Funds deposited in bank account |
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Charge created |
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Payout created |
Friday Funds deposited in bank account |
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Charge created |
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Charge created |
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Payout created |
Sat & Sun Funds deposited in bank account |
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Autobatching
By clicking Admin Menu-Integrated Gateway Settlement you will see the file for the Settlement that was deposited to your bank indicated by the Status showing as Paid as well as the Settlement that is on it's way indicated by the Status showing as In Transit. This is where you can come to download the settlement file to compare to the AutoBatch that was created for you (if you have turned on AutoBatching for your gateway). You may also use this when you need to manually batch a deposit if the AutoBatching did not happen.
ACH Payments/Settlements (For payments made prior to 7/12/2021)
Prior to 7/12/2021, ACH payments took 6 or 7 business days from the transaction date to settle and transfer. It was 6 business days if the payment is made prior to 6:00pm EST and 7 business days if the payment is made after 6:00pm EST. ACH payments are indicated by a py_ at the beginning of the transaction ID.
Below is a chart indicating the flow of funds for ACH payments made before 6:00pm EST.
Below is a chart indicating the flow of funds for ACH payments made after 6:00pm EST.
