Understanding Bank Deposits
The information in this article pertains to merchants who have signed up for Helcim from June 1, 2020, onward. If you are using Helcim's Legacy system, please click here.
Helcim provides daily batch settlements, meaning that your transactions for the day are grouped and sent to your bank account daily.
Knowing when your batches are settled, how long the funds will take to appear in your bank account, and how the total is calculated can help you manage your business. Funds will be deposited into the bank account you have linked with your Helcim account.
These batch settlements should take 2-business days to appear in your bank account. The chart below provides a breakdown of that deposit flow. Please note that merchants that are banking with smaller banks or credit unions may experience 3-business day deposits.
Bank deposits could take slightly longer when you first sign up while our system is configured for your account.
Batch settlements are settled via net deposits, meaning that the credit and debit card processing fees are removed from the total before being deposited to your bank account. For example, rounding to a 2% processing fee, a batch total of $1,000 will see a deposit of $980 made to your bank account. The merchant dashboard will provide a detailed breakdown and display both the gross and net batch amount, making your bookkeeping and reconciliation easy.
Your Monthly Fee
The $20 monthly fee will be withdrawn from your account on the 1st of each month.