Understanding Banking Schedules for Deposits
In banking, next-day funds are money that becomes available for use on the next business day following the day it is deposited.
Important!
Next banking day starts at 12:00am EST | 9:00pm PST
For those of you who operate a venue that closes after 12:00 am local time, this means that your deposit occurs the next business day at 12:00 am EST and your funds are available the day after that.
Here’s an Example Deposit Schedule:
- Sunday shift closes at 2:00am
Deposit occurs (Monday 12:00 am EST)
Funds are available to you on Tuesday. - Monday funds are available Wednesday.
- Tuesday funds are available on Thursday.
- Wednesday funds are available on Friday.
Banks do not deposit on the weekend so…
- Thursday, Friday, and Saturday funds are available on Monday morning.
Important!
Banks do not deposit on weekend or on Bank Holidays.
*see image below for reference
