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When Will I Receive Credit Card Payments
When Will I Receive Credit Card Payments

Disbursements from credit card payments are not immediate.

Dan Fellman avatar
Written by Dan Fellman
Updated over a week ago

ContractorTools uses the Stripe payment processing system to accept online credit card and ACH payments from your customers. If you haven't set up credit card payment processing, here's how.

The first payout for every new Stripe account is typically paid out 7 days after the first successful payment is received. This delay allows Stripe to mitigate some of the risks inherent in providing credit services.

After the first payment, you'll typically receive your funds within 2 days of when your customer makes the payment.

Note that you can also use Stripe to accept direct bank transfers (ACH payments), which only cost 0.6% compared to 3.5% for Credit Card transactions.

Also note that you might want to add something to your job estimates to cover the cost of accepting payments by credit card. Here's an article that explains a couple ways to do that.

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