Payments & Banking

Settlement

The transfer of collected funds into the chapter's bank account after payments are processed.

Settlement is the step where processed payments are deposited (paid out) into the chapter's connected bank account, usually on a daily or scheduled basis. Card payments settle quickly, while ACH can take a few business days. Until funds settle, a payment is collected but not yet spendable.

Related terms

Payment Processor

A company that handles electronic payments between a payer and the recipient's bank account.

ACH (Automated Clearing House)

A US bank-to-bank electronic transfer network, used for low-cost direct payments from a member's checking account.

ACH Return

A failed or reversed ACH payment, commonly due to insufficient funds or a closed account.

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