Settlement of eCheck.Net transactions occur daily. eCheck.Net transactions submitted into the system prior to the batch cutoff time are sent to the bank that same day, and the time at which the batch of transactions settles becomes the time from which the seven-day clock begins ticking. The eCheck.Net system automatically calculates, down to the second, the time at which transactions are considered collected and available for transfer to a Merchant s bank account. Transfer of collected funds to the Merchant s bank account occurs only on business days following the time the transactions are considered collected by the system. Collected funds that show transferred on any given day will not actually be available at their financial institution until the next business day.
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