How are collected funds remitted to us?
We offer two levels of payment processing. "Premium" and "Basic". The premium model supports multiple bank accounts. "Basic" payments only allows payments to be routed to one bank account.
In the premium model, when we collect payments from new and current members using the built-in merchant account, they are processed by the credit card system and deposited in our bank account two business days later. Then, three times a month (on the 10th, 20th and the last day of the month), we make an automated funds transfer (ACH) from our bank account directly to your bank account. This transfer requires another two business days for processing by the Federal banking system. Using this model, we can also distribute funds into different bank accounts, such as dues owed to a separate chapter, or a bank account specific to donations.
In our "Basic" payments model, you control the payout schedule. Note that you cannot distribute funds into different bank accounts, since these funds are not flowing through ClubExpress.