Instant Deposit allows you to receive funds in your bank account instantly after accepting a credit card or ACH payment.
Once per day, you can use Instant Deposit to choose the amount of money you want to receive instantly, up to $20,000. These funds are sent to your bank account right away -- no need to wait until the next business day to receive your payment! It even works on holidays and weekends!
Please note:
A minimum of $100 and maximum of $20,000 can be deposited instantly per day.
Instant Deposit can only be used once per day, but we are working to increase this limit.
Instant Deposits incur an additional fee of 1%.
This article shows how to use Instant Deposit on your Web Dashboard. Click Here to see how to use Instant Deposit on your phone.
How It Works
1. On the InvoiceASAP Web Dashboard, you will now see an Instant Deposit button on the left-hand menu.
(If you do not see this button, Instant Deposit is not available yet for your account.)
This button shows the total amount of credit card and ACH payments you have available to deposit instantly.
After taking one or more payments this button turns green to inform you that Instant Deposit is available.
2. Clicking this button displays the Instant Deposit popup, where you can enter the amount of money you'd like to have deposited to your bank account instantly, up to $20,000 per day.
3. Entering a deposit amount calculates and displays the 1% fee, as well as the total amount to be sent to your bank account.
4. Clicking "Next" takes you to a confirmation screen where you can double-check the amounts are correct.
5. After confirming the Instant Deposit, the funds are immediately sent to your bank account!
Please note that it may take a couple of minutes for your bank to show the funds as available.
Reporting
InvoiceASAP provides a Deposit Summary Report (Reports > Payment Reports > Deposit Summary Report) that shows how much money has been deposited to your bank account each day.
Instant Deposits show on their own row, and are identified as "Instant Deposit."
If you have any questions about Instant Deposit, please submit a support ticket or email our Support Team!
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