How quickly will I receive my funds?

Scroll down to see how things work, and view a handy chart of funding schedules.

How quickly will I receive my funds & what’s the funding process?

Dharma has 2-business day funding guaranteed for all merchants. For most merchants, this funding process means that if you accept $1,000 in payments on a Monday and submit those transactions to us by 9pm Eastern time, you’ll see $1,000 deposited into your bank account by Wednesday, 2 days later.

If you’re a retail, card-present merchant Dharma can typically offer next-day funding. Next-day funding availability is determined by our underwriters when reviewing your application materials. Although it can’t be guaranteed, next-day funding is typically granted for card-present merchants.

Everyone always wants to know, “Where’s my money?” and we want to make sure you fully understand how the funding process works. Most Dharma merchants are paid every two business days. This means that after Dharma receives your transactions, your bank account will be funded for the full gross amount of those transactions. For example, if you accept five sales on Monday for a total of $1,000, you could expect to see the full $1,000 amount deposited to your checking account by Wednesday, which is two business days later. Transactions that process on Thursday will post to your checking account on Monday, and transactions that are submitted from Friday to Sunday will post to your account on Tuesday.

2 Day Funding Schedule

All Virtual (Card-not-present) merchants will receive 2-day funding. Deposits are not made on weekends or federal holidays. Remember that it’s important to batch out by 9pm Eastern Time in order to receive the fastest funding.

Dharma operates on two different networks, TSYS and First Data. Most new Dharma merchants will board on the TSYS networks, which are reflected below. Please note, First Data cutoff times are two hours earlier.

Batch Day/Time (Eastern Time Zone) Funding Day
Wednesday (After 9pm) Monday
Thursday (Before 9pm) Monday
Thursday (After 9pm) Monday
Friday (Before 9pm) Monday
Friday (After 9pm)  Tuesday
Saturday – Sunday Tuesday
Sunday (After 9pm) Wednesday
Monday (Before 9pm) Wednesday
Monday (After 9pm) Thursday
Tuesday (Before 9pm) Thursday
Tuesday (After 9pm) Friday
Wednesday (Before 9pm) Friday

Next-day Funding (NDF) Schedule

Next-day funding is only granted to card-present merchants, and is dependent on underwriting approval. Deposits are not made on weekends or federal holidays. Remember that it’s important to batch out by 9pm Eastern Time in order to receive the fastest funding.

Dharma operates on two different networks, TSYS and First Data. Most new Dharma merchants will board on the TSYS networks, which are reflected below. Please note, First Data cutoff times are two hours earlier.

Batch Day/Time (Eastern Time Zone) Funding Day
Wednesday (After 9pm) Friday
Thursday (Before 9pm) Friday
Thursday (After 9pm) Monday
Friday (Before 9pm) Monday
Friday (After 9pm)  Monday
Saturday – Sunday Monday
Sunday (After 9pm) Tuesday
Monday (Before 9pm) Tuesday
Monday (After 9pm) Wednesday
Tuesday (Before 9pm) Wednesday
Tuesday (After 9pm) Thursday
Wednesday (Before 9pm) Thursday

What can alter my Funding Schedule?

  1. In order for Dharma to process your funding within two business days, you’re required to submit your transactions to us prior to the network cutoff time. The cutoff timing can vary depending on your equipment/network setup, but the vast majority of our merchants will need to batch/settle/close-out by 9pm Eastern Standard Time in order to ensure two-business day funding. If you have to batch-out after 9pm, that’s fine. Many businesses prefer to simply delay their funding by a day, and purposely “batch-out” after the cutoff time, because their business stays open late. This choice is yours.
  2. Dharma boards most new merchants on the TSYS networks, for which the above cutoff times apply. If you use any First Data products (Clover or the FD-150 terminal) or certain POS systems, you’ll be placed on the First Data networks. First Data has an earlier cutoff time of 7pm EST.
  3. Since we always deposit gross sales amounts into your bank account, we’ll be summing up all the fees owed to Dharma in the background, throughout the month. During the first week of every month, we automatically remove our fees for the previous month’s processing. Fees will be taken from the same account into which we deposit your funds. If you are being funded for transactions on the same day we are removing our fees, you’ll see a net deposit for your batch amount, minus the fees you paid. If you had no deposits during the day we remove our fees, you’ll instead see a debit from your account for our full fee amount.
  4. If you receive a chargeback, these fees will be automatically removed from your next day’s deposits. Chargebacks are infrequent, but are very important to keep an eye on. When your customer disputes a transaction and issues a chargeback, per Visa/MC guidelines, the funds are immediately removed from your bank account, until the chargeback is resolved. Should you follow-up and win the chargeback, the fees will be re-deposited into your account. You’ll always receive a chargeback notification in the mail and you’ll also be able to setup text/email notifications in MX Merchant for chargebacks. It’s imperative you follow the instructions closely to properly defend yourself and recoup any lost funds. Failure to respond to a chargeback will result in lost funds, regardless of the actual circumstance of the chargeback.
  5. We setup accounts with individual deposits. This means that you’ll see a separate deposit to your bank account for each batch you submit. So, if you submit a batch on Friday, then Saturday, then Sunday – you’ll see three separate, individual deposits into your bank account the following Tuesday. If you desire, we can also set an account up with combined deposits, so that instead of three deposits into your account on Tuesday, you’d instead see a combined total as one single deposits. Be sure to discuss funding with your Account Manager if you have any questions.
  6. Certain networks and terminal combinations require different batch out (settlement) times. If this is the case, your Account Manager will be sure to notify you so that you can make the necessary accommodations.