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Bank Transfers

Woohoo Card > Bank Transfers

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Next business day

 
We understand how important cash flow is to your business.
 
That’s why the majority of your card transactions are deposited into your bank account the next business day. However, you will notice that the total amount on your end of day report will be different to the amount transferred to your account. This is for two reasons: Takings from international cards are deposited three to five days after the transaction. Domestic card takings are deposited the next business day We transfer your account the total transaction value for that day minus the rates charges – this is called net settlement.
 

Transferred into your account.

Net settlement
 
For each card transaction you pay a rate that is calculated as a percentage of the transaction value. This charge is deducted from the overall transaction value before being deposited in your bank account. Example: You make a sale worth $5.00 via a Visa Debit Card. If your agreed rate for Visa Debit cards is 1.0% then the rates charge is 5c. This means $4.95 will be transferred into your account.
 

Base currency is not Euros

Transfer timeframes
 
Domestic card takings (base currency in Euros) are transferred one day after transaction. International card takings (base currency is not Euros) are transferred three to five days after the transaction. This means that if you accept a variety of currency types, your daily takings will not all be transferred on the same day.