Cash flow is essential for running a business. Till understands what it means to you and thereby offers 2 funding cycle options to cater to your business needs: Same Day Funding and Next Day Funding. On this page, you will learn about the expected funding timings based on the funding cycle you signed up for.
What is the difference between Same Day Funding and Next Day Funding?
Timing is the biggest difference. Next Day Funding cycle allows Till a longer lead time to transfer you a funding, while you will get the funding within hours after settlement with Same Day Funding cycle. See below for a detailed explanation of the difference.
Same Day Funding: If you settle before the official cut-off time of day*, the funding will be transferred to your bank account close of business, after settlement. Otherwise, the funding will be available on the next day. Same day funding is processed 7 days a week unless otherwise notified to you in advance.
Next Day Funding: If you settle before the official cut-off time of day*, the funding will be transferred to your bank account on the next business day. Otherwise, the funding will be available after 2 business days. If the funding day falls on a weekend, a New South Wales public holiday or a bank holiday, the funding will be available the next business day.
*Till official cut-off time: In-person payment (8:25 PM AEST each day), Online payment (6:00 PM AEST each day)
How can I know which day the funding will be transferred to my account?
The below tables show the expected funding day corresponding to your business settlement time.
Online payment expected funding schedule
In-person payment expected funding schedule
How can I find out which funding cycle I signed up for?
You can find the information on Till Merchant Portal. The “Live Merchant” tab under the “Merchant” section will provide you information regarding your funding cycle option at Till.
Which cut-off time should I follow if I have both in-person and online payments with Till?
There will be 2 cut-off times if you possess both payment types with Till. The official cut-off time for in-person payment is 8:25 PM AEST and 6:00 PM AEST for online payment each day.
What can I do if I want to switch funding cycle plans?
Please complete the request form here if you wish to switch the funding cycle plan from Next Day to Same Day or vice versa. Additional costs might be incurred.
Was this article helpful?
1 out of 1 found this helpful