I am currently doing daily C.C settlement/batching, but I apparently can do a weekly settlement/batching. This would save some of the cost of daily batching and make my monthly bank statement a lot smaller. Has anyone switched to weekly batching and is there any problems doing so? My bank doesn't pay any interest on the business account, so that's not a factor. I have 8 terminals that cost 10 cents each per day to batch.
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does anyone have weekly credit card settlments/batching ?
- Thread starter celica
- Start date
mjwalsh
6 bay SS w/laundromat
Celica,
I watch how the minority do it in the laundromat industry & it seems like longer the batch period that there are some kinds of more risks involved ... not sure exactly how that would increase whatever risks ... I forget what the technicality was that someone brought out some time ago.
We went the ATM=>CASH way for our facility & I realize that some localities have the perceived convenience bar raised so high that it makes that approach less feasible especially for automatic car washes. We only have self service bays with car wash & laundromat.
On a recent in depth discussion on our Coin Laundry Association a poster shared the below link that clarified some debit vs credit & interchange fees that increased my understanding of even how the transactions on our ATM that we own ourselves is processed.
https://www.cardpaymentoptions.com/fee-sweep/debit-fees-explained/
I watch how the minority do it in the laundromat industry & it seems like longer the batch period that there are some kinds of more risks involved ... not sure exactly how that would increase whatever risks ... I forget what the technicality was that someone brought out some time ago.
We went the ATM=>CASH way for our facility & I realize that some localities have the perceived convenience bar raised so high that it makes that approach less feasible especially for automatic car washes. We only have self service bays with car wash & laundromat.
On a recent in depth discussion on our Coin Laundry Association a poster shared the below link that clarified some debit vs credit & interchange fees that increased my understanding of even how the transactions on our ATM that we own ourselves is processed.
https://www.cardpaymentoptions.com/fee-sweep/debit-fees-explained/
Earl Weiss
Well-known member
My Tunnel Cashiers manually ad CC slips so the Checkout can be reconciled with controller data. At one location the person reviewing failed to note the slip at the end of the day said "Batch Failed" No money went into the account for those days. When I discovered it the CC Clearing company said there was a "Charge stuck in the machine" and told me how to go in and void it. Then the unit batched all the old info and money went into the account but customers who had multiple visits during that time called and said they were charged multiple times in one day. Had to advise them to look closer at the charge.
