Payouts & Reporting (Stax)

The payments that you process using Owl Payments will settle into the bank account you registered in your merchant enrolment application. Your account has automatically been set up to receive gross deposits. Gross funding is when the deposits in your bank account match your daily batch totals.  

For example, if you ran $1,000 in transactions in a single day, and your fees totaled $29, you would see a single deposit of $1,000 to your bank account, followed by a single debit of $29.  The net amount would then total $971.

This makes reconciliation much simpler within your bookkeeping system of choice.

Transactions taken by 8:00pm EST each day will be funded to your bank account within 48 business hours for credit card transactions, and 5 business days for ACH transactions.

Your transactions will automatically batch out at 8:00pm EST every day. There is no action you need to take to settle your batch each day. Once your batch is settled, the deposits will fund your bank account within 48 business hours for credit card transactions and 5 business days for ACH transactions. For example:

Credit Card Transactions settled by 8:00 pm EST on:

  • Monday will fund on Wednesday
  • Tuesday will fund on Thursday
  • Wednesday will fund on Friday
  • Thursday will fund on Monday
  • Friday will fund on Tuesday
  • Saturday and Sunday will fund on Wednesday

 

ACH Transactions settled by 8:00 pm EST on:

  • Monday will fund on the following Monday
  • Tuesday will fund on the following Tuesday
  • Wednesday will fund on the following Wednesday
  • Thursday will fund on the following Thursday
  • Friday will fund on the following Friday
  • Saturday and Sunday will fund on the following Friday

*Please note that bank holidays will increase the funding times*

Deposits are funded to your bank account, and processing fees are debited shortly after.