Help CenterOnce you complete Usio’s enrollment process, we’ll activate Usio payments for your business. This will give you access to additional features like accepting ACH/bank payments from your clients and activating POS Terminal for $5 per month. Typically, ACH and card transactions are bundled on a 24 hour basis and then are disbursed within 2-3 business days.
Now, you're wondering how funds are identified in your connected bank account? Here is a guide to understanding the debits and deposits from Usio in your bank account:
Daily Deposit USIO (Deposit): These are your credit/debit card daily disbursements. In rare cases, you'll see (-) beside your disbursement/deposit on your bank statement. This would only happen if you issued a refund but don't do at least that much in sales for the day. To check this, go to your Disbursement Report, check your the Total Sales Amount vs. the Total Credit Amount for the day. You'll see the difference a.k.a the Total Amount in parenthesis. Usio will then deduct the Total Amount in parenthesis to your bank account and will show as (-) on your bank statement. Click the "See Day's Transactions" link for more details.
EOM Fees 9006 USIO (Withdrawal): EOM stands for "End of Month" and this is for card processing fees only, ACH processing fees will be debited separately, should you choose to accept ACH. Processing fees for each card sales transaction are calculated at the end of each month as a combined deduction from your bank account. You will receive a monthly statement from Usio via email. This will include details of fees charged and total the amount which will be debited from your bank account. Card statement will be sent at the time the debit is made. Usually, Usio send it about 1 day before the debit hits your account. Typically, funds will be debited for the processing fees on the 1st of the following month that the statement/invoice is received. POS Terminal and card transactions fees are still 2.9% + $0.30 per transaction.
9006 USIO with the CBMS MRep: These are your credit/debit card Chargebacks (a.k.a. disputes). You will be notified directly of chargebacks by Usio/Repay and you have complete control to respond as you see fit. While you now have more autonomy in handling your disputes, you may still always reach out to us with any questions about a dispute. Any debited funds will come directly from your bank account similar to the processing fees. If you have a chargeback, you will see this descriptor on your card invoice with all card processing fees. The chargeback fee for Usio credit/debit card transactions is $25 each and is strictly non-refundable regardless of the outcome of the chargeback. Please note that chargebacks cannot be fully canceled once initiated, even if your customer asks their bank to withdraw. Doing so will NOT result in the chargeback fee being refunded. The chargeback fee can ONLY be recouped directly from your customer, should they agree to that.
Settlement PDS GW (Deposit): These are your ACH disbursements. The descriptor will include a bunch of numerical values (Eg. PDS GW28 Trandpeco SETTLEMENT XXXXXX). You will only receive these disbursements, if you have activated ACH payments on your business account.
USIO Ops Acct (Deposit): This is for ACH/bank payments processing fees only, card processing fees are debited separately. This might show deposit if you did a refund. Processing fees for each ACH sales transaction are calculated at the end of each month as a combined deduction from your bank account. You will receive a monthly statement from Usio via email. This will include details of fees charged and total the amount which will be debited from your bank account. ACH statement will be sent at the time the debit is made. Usually, Usio send it about 1 day before the debit hits your account. Typically, funds will be debited for the processing fees on the 1st of the following month that the statement/invoice is received. ACH payments processing fees are 1.9% + $0.30 per transaction. ACH has lower processing fees, but there are differences from card processing that you need to be aware of when accepting ACH.
PDS GW28 Transpecos SD CCD: This is for ACH Returns hence it does not have the word SETTLEMENT. The descriptor will include a bunch of numerical values (Eg. PDS GW28 Trandpeco SD CCD XXXXXX). If you choose to accept ACH/bank payments, there is a possibility that a return can come back on a transaction even after funds from that transaction have been disbursed to your account. If this happens, it will show as "ACH Return" on your Sales Report. Unfortunately, unlike when card transactions are disputed and a chargeback is received, there is no avenue for a business to dispute a Returned ACH transaction. The funds are returned to the bank and Usio automatically charges a non-refundable $5 Return fee. If you have an ACH Return, you will see this descriptor on your ACH invoice with all ACH/bank payments processing fees.
That's about it! If you have any questions or concerns, please feel free to reach out to either support@usio.com or support@fitli.com.