Card settlement timing

Card transfer statuses

The rail-specific status of a card transfer is in cardDetails.status, which is part of the create a transfer response body. You can also use the list transfers and retrieve a transfer endpoints to get the status.

Cutoff times by card brand

Settlement cutoff times for card payment transfers are outlined below. Transfers created before these times are typically credited to the merchant’s Moov wallet the next banking day.

The overall transfer status stays pending until the funds reach the merchant's wallet, then moves to completed (or failed).

The following illustrates a typical Monday business day of processing:

A completed transfer status indicates the funds have been credited to the merchant and are available. Funding to the merchant Moov wallet occurs by 1:00 PM ET on the banking day following the settlement cutoff. For example:

• Visa, Monday business day: cutoff Tuesday at 6:00 AM ET. Sales completed before Tuesday at 6 AM will be funded to the merchant Moov wallet on Tuesday by 1:00 PM ET.

Once funds are in the merchant's wallet, move them to a bank account with a cash out transfer.

Reconcile card activity with wallet balances

• Sales: credited to Moov wallet by 1:00 PM ET next banking day after transaction
• Refunds: immediately debited from wallet at the time the refund is initiated
• Chargebacks: immediately debited from wallet at the time chargeback is processed

Suppose the proceeds of card payments are cashed out of the merchant’s Moov wallet at 7:00 AM ET via same-day ACH. On Wednesday, the withdrawal could be expected to contain:

• Transfers created before the Monday cutoff times and completed on Tuesday
  • confirmed status on Monday
  • settled status on Tuesday AM
  • completed status by Tuesday EOD
• Chargebacks received between 7:00 AM Tuesday and 7:00 AM Wednesday
• Refunds created between 7:00 AM Tuesday and 7:00 AM Wednesday

Next steps

• Refund or cancel a card payment
• Respond to disputes
• Cash out a wallet