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Understanding Transaction Processing in Moovs
Understanding Transaction Processing in Moovs
Jeffrey avatar
Written by Jeffrey
Updated over 2 months ago

Hello, Moovs partners! πŸ‘‹ Let's break down how transaction processing works in our system. Understanding this process will help you manage your cash flow better.

What Does "In Transit" Mean?

When you see a transaction marked as "In Transit" in your Moovs dashboard, it means:

- The payment has been successfully charged to the customer

- The funds are on their way to your account

- We're processing and verifying the transaction

Think of "In Transit" as a safety check to ensure everything is correct before the money reaches you.

Normal Processing Times

Here's what you can expect for processing times:

- Most transactions complete processing within 24-48 hours

- After processing, funds are ready for payout

- Unusual or very large transactions might take a bit longer

Understanding the 2-Day Rolling Basis for Payouts

Moovs operates on a 2-day rolling payout system. Here's how it works:

1. Day 0: Transaction occurs

2. Day 1: Transaction is "In Transit" and processing

3. Day 2: Payout is sent to your bank account

Example:

- Monday's transactions are typically paid out on Wednesday

- Tuesday's transactions are typically paid out on Thursday

How Weekends and Holidays Affect Payouts

Weekends and holidays can change the payout schedule:

- Banks don't process payments on weekends or bank holidays

- Transactions that would normally payout on a weekend or holiday will be processed on the next business day

For example:

- Friday's transactions are typically paid out on Tuesday

- Transactions before a holiday weekend might be paid out on the first business day after the holiday

Pro Tips for Moovs Partners

- Check your Moovs dashboard regularly to track "In Transit" transactions

- Plan your cash flow knowing that payouts operate on a 2-day rolling basis

- Remember that weekends and holidays will delay payouts slightly

- If you notice any unusual delays, don't hesitate to contact Moovs support

Need More Information?

If you have any questions about transaction processing or payouts, our Moovs support team is here to help. Reach out through your dashboard, and we'll be happy to assist you.

Understanding your cash flow is key to running a smooth transportation business. With Moovs, you're always in the driver's seat of your finances! πŸ’°πŸš•

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