We live in a fast-paced world, and small business owners are often expected to operate at the same rate as a national brand! As your financial partner, it is our responsibility to help ensure your business has access to all of the payment processing tools it needs to compete and succeed in your industry. Next Day Funding is one of the tools we find to be incredibly valuable for brick and mortar and e-tailers alike.
Next Day Funding is a service we provide that allows you to process transactions for all card types including VISA®, MasterCard®, Discover® and American Express® and receive actual monies directly to your bank account by the next business day. However, not all next day funding services are created equally! Some Merchant Service Providers require you to use a specific bank or have cut-off times as early as noon! With Cynergy Data Texas, you don’t need to change to a specific bank and you can process transactions well into the evening!
In terms of business operations and growth, there are three benefits of next day funding, as opposed to relying on memo posts and waiting 3-5 days to access your money.
Pay Vendors Quicker
When you pay vendors on-time, you not only avoid unnecessary late fees, but you also form a positive relationship with them. This can be especially important when business is booming — as you may need a favor from a particular vendor, like more inventory on short notice. In short, not having access to your own funds should not be a reason that a vendor is paid late.
Pay Employees On-time
While you’re waiting around for funds to post to your bank, your employees may be waiting for their paycheck. When choosing to work for a business, individuals want to feel confident in the businesses’ ability to pay their employees fairly and on-time. Playing the “you’ll get your check tomorrow” game is dangerous for team morale and your reputation.
Free Up Capital
Improved cash flow can certainly relieve stress for a business owner. If you know exactly what you have in your account, you’re able to make business decisions in real-time! In today’s environment, you don’t have 3-5 business days to wait before making decisions.
Next Day Funding is a valuable tool for growing businesses. Call 512-250-2380 to discuss this service with one of our dedicated team members.