Two Business Day Funding
If you prefer receiving all card transaction activity for a given day in one deposit please advise MyTime that you would like to switch to 2 business-day funding. We will set the batch to close time to 11:55 PM local time. This setting is recommended as it will simplify reconciliation between MyTime reports and your bank.
Example: If your business hours on Monday are 9 AM to 7 PM PST and you choose 2 business day funding you would receive ALL card transactions from 9 AM to 7 PM on Wednesday in one single deposit. Tuesday would deposit Thursday. Wednesday Friday, Saturday, and Sunday transactions will deposit Tuesday*.
Next Business Day Funding
If you prefer receiving all card transaction activity for a given day the next business day please advise MyTime that you prefer next business day funding. We will set your batch close/cutoff time to 5 PM PT or 8 PM ET. This will allow for faster deposits but could cause complex reconciliation between MyTime reports and your bank deposits.
Example: If your business hours on Monday are 9 AM to 7 PM PST and you choose next business day funding, we will deposit transactions from 9 AM to 5 PM on Tuesday and any card transactions from 5 PM to 7 PM on Wednesday. Friday transactions will deposit Monday; Saturday and Sunday transactions will deposit Tuesday*.
*Bank Holidays will alter these deposit timeframes.