This article outlines the payment options available to your customers when paying invoices sent from your Bancoli account. It explains the time it takes for those funds to settle and become available to you.
Payment Methods Available to Your Customers
When you issue an invoice through Bancoli, your customers can choose from the following payment methods:
- Bancoli Smart USD Account: If your customer also has a Bancoli account, they can pay the invoice instantly using their Bancoli balance.
- US Bank accounts (ACH Direct Debit): Your clients can authorize a payment directly from their bank account. This includes fintech and neobank accounts as well as both corporate and personal bank accounts.
- Stablecoins: Payments can be made using supported stablecoins directly through the Bancoli platform.
- Credit and Debit Cards: Your clients can pay using their globally issued Visa, Mastercard or Amex credit or debit cards.
Settlement and Clearing Times
After your customer successfully initiates a payment for an invoice, the funds undergo a settlement and clearing process before they are reflected as available balance in your Bancoli account. The time required depends on the payment method used:
- Bancoli to Bancoli Payments: Funds typically take less than a couple of minutes to settle and clear. Funds are typically available within 1 business day.
- ACH (from a Corporate Account): Funds typically take 3 business days to settle and clear.
- ACH (from a Personal Account): Funds typically take 60 days to settle and clear. (Note: This extended timeframe is related to risk management and return periods associated with personal accounts.)
- Stablecoins: Funds typically take less than a couple of minutes to settle and clear.
- Credit and Debit Cards: Funds typically take 90 days to settle and clear. (Note: This extended timeframe accounts for industry-standard chargeback risk periods.)
Important Considerations:
- Settlement Process: This period allows for necessary verification, processing through financial networks (like the ACH network or card networks), and standard risk assessment procedures.
- Payment Initiation: The settlement clock begins once the payment is successfully initiated and confirmed by the customer and the respective payment network.
If you have specific questions about a payment's status or settlement time, please review your transaction history within your Bancoli account or contact Bancoli Support for assistance.