Understanding the foreUP Payments Funding Schedule

Overview

This article provides information on the payout funding schedule with foreUP Payments and when your facility can expect the credit card funds to be deposited into your bank account.

Preconditions

The following conditions must be met:

• Your facility must be using foreUP Payments as your integrated credit card processor for the foreUP software solution

foreUP Payments Funding Schedule

The foreUP Payments credit card processing solution uses an interchange cost-plus (IC+) processing model rather than a flat-rate model. The funding schedule is a T + 3 business day net funding schedule (see the following article for more information regarding IC+: Understanding the Interchange Cost-Plus Model for Credit Card Processing).

The "T" refers to the day the credit card transaction is initially processed in the foreUP software. The "+ 3 business days" refers to when your facility can expect those funds to hit your bank account. The "net" refers to how the credit card payouts are deposited into your bank account.

The credit card fees will be withdrawn from your daily credit card settlements prior to the funds hitting your bank account. What is deposited into your bank account already has the credit card fees funds withdrawn, hence "net."

Please take a look at the additional details below for a deeper understanding of the foreUP Payments funding schedule.

VANTIV vs. LITLE

foreUP Payments processes all credit card transactions on one of two processing rails: VANTIV and LITLE. The VANTIV rail is used to process all card-present (CP) transactions, and the LITLE rail is used to process all card-not-present (CNP) transactions. This means you will receive two separate deposits to your bank account, one for the CP activity and one for the CNP activity, assuming you have both on a single business day.

VANTIV transactions are batched into settlements Monday - Sunday.

LITLE transactions are batched into settlements Sunday - Wednesday. This means the Thursday, Friday, and Saturday CNP activity is lumped and batched into ONE settlement (see the following article for more information about settlements: How to View and Understand Settlements in Finix).

The below grid helps to visualize when you can expect to see the VANTIV and LITLE payouts deposited into your bank account (please note there are no payouts on the weekends):

Transaction Date	Bank Deposits
	Vantiv (CP)	Litle (CNP)
Monday	Thursday	Thursday
Tuesday	Friday	Friday
Wednesday	Monday	Monday
Thursday	Tuesday	Tuesday
Friday	Wednesday	Tuesday
Saturday	Wednesday	Tuesday
Sunday	Wednesday	Wednesday

PLEASE NOTE: A banking holiday will delay the bank deposits by one additional business day.

Please refer to the example below to provide a further understanding of the CP and CNP funding schedule.

This example assumes the following:

• You process $1,000 worth of credit card sales every day, Monday - Sunday
• The daily $1,000 in credit card sales is broken down into $500 CP and $500 CNP transactions

The CP activity is shown in black text. The CNP activity is shown in white text. 

As you can see:

• The CP and CNP activity from Monday hit the bank account in two separate net deposits three business days later on Thursday
• The CNP activity from Thursday, Friday, and Saturday is lumped into ONE payout, which gets deposited into the bank account the following Tuesday.

FAQ

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