What are the settlement terms for Merchant Accounts For Taxi Cabs and Limousines?

Merchant Services Q&ACategory: Merchant Accounts For Taxi Cabs and LimousinesWhat are the settlement terms for Merchant Accounts For Taxi Cabs and Limousines?
Bankim Chandra Staff asked 3 months ago
1 Answers
Bankim Chandra Staff answered 3 months ago

It depends on various factors. In general if the profile of the merchant is good they may get T+2 or T+3 settlements. In case risk is moderate the processor may ask for a rolling reserve between 5% to 10% and may ask for a weekly payout term. with 7 days in arrears.