General contractors get paid faster with online payments. Once you start accepting payments online through Ivy, you can access your money in just 2-3 business days.
Ivy works with Adyen to process online payments. Adyen is one of the largest and most secure payment processing companies in the world.
Here’s how Adyen processes payments:
- Your client pays by credit card on a scheduled payment.
- The payment is processed on Adyen. Adyen deducts the processing fee from the payment (3.0% for credit card payments).
- Adyen transfers the funds to your bank account, which takes approximately 2-3 business days. Payments are bundled into payouts at the end of the day UTC and sent out early in the morning UTC. By this logic, let's say you received a payment at 9:00pm PST on April 24th, which is early morning UTC on the 25th, we'd expect to see that payout occur by the end of the day on the 27th UTC.
- Your bank posts the funds in your account. Most banks do this immediately when they receive the transfer from Adyen, while other banks can sometimes take a day or so to post the funds.