Online Credit Card Payments - Too Slow To Deposit
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nathan
It takes 4+ Business days from the day a customer makes a payment before it hits my bank account as a deposit. Unfortunately, this makes you guys the slowest CC processor in the whole industry. This is incredibly painful for small businesses that rely on cash flow. Also, the industry standard, & all of your competitors process these payments with deposits the very next day, or worst case, two business days if the customer payment was made late in the day. Love the platform, but this CC processing time is SO painful.
Ben Daniel
I'm not sure why WorkIZ takes so long, other than that they're profiting from holding the funds and investing the working capital. The length of time that they hold ACH is totally unreasonable compared to all other platforms. As soon as we have time to make the change, we'll move entirely away from WorkIZ Pay unless they improve this.
Also, Instant payouts is not a solution. That's just an additional money grab.
Aaron Crittle
I know right whennwe switch there was like a 10-day hold on all payments. Then we were getting one deposit a week, regardless when the client paid. Now it seems to be down to 2-3 days which is ok. 5-7 days is way to slow. I dont see the advatage yet of paying an extra 1% to get the money any faster.
I have not truely looked into the workiz card yet.
Orit Tepper
Hi, have you checked out Instant payout? It's a great way to get the money deposited within 30 minutes.
Another option worth looking into is the Workiz Card, which based on your monthly volume with Workiz, can offer you a monthly credit line with 0 fees that's a great solution for handling expenses. It also let's you set a limit per card holder and controls one what the card can be used for, for example only gas or supplies.
Ben Daniel
Orit Tepper Respectfully, none of these are true solutions. Instant payout costs even more in fees. And the WorkIZ card is limited and lacking in countless features of other business cards, not least of all, cashback, which businesses at scale rely upon. I just want to be honest that the delays in payout from WorkIZ is seems like a frustrating money grab (see my comment above). I'd rather just pay more for the CRM than deal with the annoyance of the slow pay cycles compared to every other CRM we've considered. Please consider baking the profits procured from delaying payouts into the CRM cost itself. That would frustrate fewer clients. Thank you.
Aaron Crittle
Nathan I agree. We switched over from Service Autopilot. They use Clearnet for there processing(I believe Clearent own Service Autopilot). If a client paid Tuesday before the daily cut off time, the payment was in my account and available Thursday morning. As software users are added Workiz needs to renegotiate the terms with swipe.