What is a "withdrawal"? Are you taking money from me?

What is a "withdrawal"? Are you taking money from me?

What is a "withdrawal"? Are you taking money from me?

That's a great question, and the answer is no. We're sending money your way.

The way payments processing works is that when your client pays you, the funds must be collected and verified. When that's done, the payment is then deposited into your payments account, awaiting transfer to your bank.

When we transfer funds to your bank, we are taking the money out of your payments account to send to you, which is why it is referred to as a withdrawal. It's withdrawing from your payments account to send to your bank account.

This terminology is common within the payments processing industry, but it could be confusing if you've never encountered it before. Rest assured, when you receive an email stating a withdrawal has started, what it really means is money is on its way.


    • Related Articles

    • What are the stages of a payment? How does payment processing work?

      What are the stages of a payment? How does payment processing work? Anyone unfamiliar with how payment processing works might easily assume that when someone makes a payment, either by credit card or e-check, that the money simply moves from the ...
    • How long does WePay take to get a payment to me?

      How long does WePay take to get the payment to me? Written by Success-Team Updated over a week ago In most cases, credit card payments made by your client before 4 pm EST will arrive in your bank account within 2 business days of the client issuing ...
    • How can I see all my payment transactions and fees paid?

      Any payment you receive through Sunrise Pay is tracked from within your payments account. You can access this account at any time. Here's how: Click on Payments and sign in to your merchant account.  From the left-hand column, choose Reporting (If on ...
    • Add a Payment Method (Credit/Debit Card, Cash, Check, ACH)

      Sunrise Pay is the quickest way to get paid on your invoices. Once you sign up with a free user account, you’ll have access to add new payment methods. Sunrise Pay includes credit and debit cards and bank transfers. You’ll be able to add Check and ...
    • How can I change which bank account my payments are deposited?

      How can I change which bank account my payments are deposited? You can change the bank account your Sunrise Pay sends money to in just a few easy steps. Click on Payments Sign in to your merchant account Click the three lines button at the top to ...