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This article will review the payout expectations regarding the timeline from when parents pay to when your school will receive that money. With the VC Pay module, the payment provider is BlueSnap (BLS) and depending on how the parent pays (ACH or CC) will depend on the timeline for the transfer to be completed.
Parent to BlueSnap
This step represents the funds settling from the parents bank account with the money flowing to BluesSnap. For credit cards, this is instantaneous but for ACH transaction this typically takes 3-5 business days.
During this step, a checkout receipt record is created in Veracross to represent the payment and a simple receipt will be created for credit card payments. The checkout receipt is the source transaction that will represent if this payment has been successful or if it failed. Additionally, a simple receipt will be created for ACH payments once the checkout receipt status changes to 'ACH Transfer Pending'.
BlueSnap to School
This step represents the money moving from Bluesnap to the school's bank account. Bluesnap will hold this money for one business day and then process it via ACH to the school's bank account. This ACH transaction takes 3-5 business days.
School's Bank Transactions
It is up to the school's bank to post the payout into their account. This can vary based on their policies. Depending on the amount of the transaction there may be additional verification needed. If you are not seeing this in your account during an expected period of time, check with your bank first.
A transfer from BlueSnap to the school's bank account will occur on the schools specified interval. When the transfer occurs, a payout record will be generated in Veracross for the school to process from the Payment's Processing Homepage.