# Card settlement timing

> Card settlement cutoff times by card brand, what each card transfer status means, and how to reconcile daily card payment activity with Moov wallet balances.

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Card payments settle to the merchant's Moov wallet by 1:00 PM ET on the banking day after the card brand's cutoff. Moov uses the latest cutoff each card network offers.

## Card transfer statuses

The rail-specific status of a card transfer is in `cardDetails.status`, which is part of the [create a transfer](/api/money-movement/transfers/create/index.md) response body. You can also use the [list transfers](/api/money-movement/transfers/list/index.md) and [retrieve a transfer](/api/money-movement/transfers/get/index.md) endpoints to get the status.

| Rail-specific status | Description                                                                                                                                        |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|
| `initiated`          | Transfer has been created                                                                                                                          |
| `confirmed`          | Successful authorization by the card network                                                                                                       |
| `settled`            | Transaction settled with issuer; Moov wallet will be credited by 1 PM ET on a banking day, or the next banking day if it is a weekend or a holiday |
| `cleared-externally` | Transaction settled via Amex Direct; associated Amex Direct account will be credited.                                                              |
| `completed`          | Funds have been credited to the merchant Moov wallet                                                                                               |
| `canceled`           | Transaction was successfully cancelled and authorization has been reversed                                                                         |
| `failed`             | Transaction failed; specific failure reason will be in `cardDetails.failureCode`                                                                   |

## 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.

| Card brand | Cutoff time           |
|------------|-----------------------|
| Mastercard | 2:00 AM ET (next day) |
| AmEx       | 1:00 AM ET (next day) |
| Discover   | 6:00 AM ET (next day) |
| Visa       | 6:00 AM ET (next 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:

| Card brand | Batch begin    | Batch cutoff    | Settled status | Completed (funded) |
|------------|----------------|-----------------|----------------|--------------------|
| Mastercard | Mon 2:00 AM ET | Tues 2:00 AM ET | Tues AM        | Tues by 1:00 PM    |
| AmEx       | Mon 1:00 AM ET | Tues 1:00 AM ET | Tues AM        | Tues by 1:00 PM    |
| Discover   | Mon 6:00 AM ET | Tue 6:00 AM ET  | Tues AM        | Tues by 1:00 PM    |
| Visa       | Mon 6:00 AM ET | Tue 6:00 AM ET  | Tues AM        | Tues by 1:00 PM    |

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](/guides/wallets/cash-out/index.md) 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](/guides/accept-payments/cards/reversals/index.md)
- [Respond to disputes](/guides/accept-payments/cards/disputes/index.md)
- [Cash out a wallet](/guides/wallets/cash-out/index.md)