Funds Deposit and Statements

How do we receive our funds?
Your funds are automatically deposited into your designated bank account.
How often will funds be deposited in my account?
If you are a Canadian organization, Visa and MasterCard transactions will be deposited in your designated bank account every one to two business days. ACH transactions will be deposited every Wednesday and American Express transactions will be deposited every Thursday. If you are a US organization, Visa, MasterCard and American Express transactions will be deposited in your designated bank account every one to two business days. ACH transactions will be deposited every Wednesday and Discover transactions will be deposited every Thursday. Please contact us for more details of our UK deposit schedule.
What is the difference between Gross funds and Net funds?
“Gross funds” refers to the total fund amount without the deduction of transaction fees. Transaction fees will be deducted monthly within the first week of the month for the prior month’s transactions. When the transaction fees have already been deducted prior to the funds deposit, it’s referred to as “Net funds.”
If I use iATS, can I still have my organization’s name appear on the donors’ credit card or bank statements?
Yes, your organization’s name will appear on the statement. For ACH clients, the DBA name supplied to iATS will appear, and some banks may display additional iATS business ID information. For credit card statements, the DBA name supplied to iATS will appear along with iATS contact phone number, and the initials of the state/province of your organization.

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