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eCheck transactions also differ from card payments as the Settled status does not mean that an eCheck was funded or has been added to the Merchant’s Available Balance to be disbursed to their bank account.
Reversing or Refunding a Transaction
If an eCheck payment fails due to insufficient funds, incorrect bank account information etc. the transaction status will become returned. Because an eCheck payment will capture and settle prior to the transaction being funded, it is possible for an eCheck status to change to returned even after it was captured and settled.
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The reversal or refund will reflect on the merchant’s balance within 2 business days of the date the return was issued by the bank. |
Transaction Funds Added to Available Balance
Funds collected from an eCheck payment will be added to the Merchant’s Available Balance within 3-5 business days. Once funded by the issuing bank, the eCheck funds will be disbursed to the merchant’s bank account as part of their next scheduled Withdrawal
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