The risk reserve is a "virtual" account where we hold the risk reserve rate. How long we hold this will depend on which method you are set up with.
Rolling Reserve: With a rolling reserve we will take out your risk reserve rate (a specified percentage) and hold it for a specified number of days. After the number of holding days is up, we will release the funds to your eCheck.Net settlement statement. Example: If you ran a $100 transaction on 10/01/07 and your reserve rate is 15%, we would transfer $15 (15% of $100) into your risk reserve statement. If your holding days is 90 days, we would release the $15 into your eCheck.Net settlement statement on 01/01/08. This is an ongoing process on your account.
Fixed Reserve: With a fixed reserve you are given a reserve rate and a target amount. We will hold the reserve rate indefinitely until the account is closed or when the target rate is changed.
Rolling Reserve: With a rolling reserve we will take out your risk reserve rate (a specified percentage) and hold it for a specified number of days. After the number of holding days is up, we will release the funds to your eCheck.Net settlement statement. Example: If you ran a $100 transaction on 10/01/07 and your reserve rate is 15%, we would transfer $15 (15% of $100) into your risk reserve statement. If your holding days is 90 days, we would release the $15 into your eCheck.Net settlement statement on 01/01/08. This is an ongoing process on your account.
Fixed Reserve: With a fixed reserve you are given a reserve rate and a target amount. We will hold the reserve rate indefinitely until the account is closed or when the target rate is changed.
