Deposits and Bank Statement Labels

[jasonleming]

When a deposit is made, how will it be labeled on the bank statement? And, is a deposit made for each day, or are a few days combined?

Thanks.

[CnP.Support]

Good day!

Transactions are settled daily at midnight & deposited in 48 hours. Single day transactions are deposited and not combined with other days.

For example:

• Day of the week: Monday
• Transaction total: 20 payments received
• Total amount received: $5000

In the above example you will receive $5000 deposited in your bank account on Wednesday (48 hours after Monday).

At the end of the billing cycle (end of the month) the fees will be deducted from your bank account.

Hope that answers your question. Please let us know if we can be of any further assistance.