Clover Rapid Deposit

Clover® Rapid Deposit

Get your money in minutes with Clover Rapid Deposit

 

Clover® Rapid Deposit is a service that provides faster access to the funds generated by sales transactions. This enables you to avoid the lag time of the traditional settlement funding process. A 1% fee applies.

 

Need cash to pay an invoice, restock inventory, or make payroll? Rapid Deposit is here to help.

 

Enroll in a few minutes on the Clover Dashboard.

Using Clover Rapid Deposit

 

How Clover Rapid Deposit works

Clover Rapid Deposit lets you avoid the 1-3 business day wait for your regular deposit. You can receive money in your business bank account within minutes. There is no limit to the number of requests you can make in a 24-hour period and no restrictions on day or time.

 

You can use Clover Rapid Deposit if your provider or bank offers the service and you’re eligible to use it. If your provider or bank offers the service and you’re eligible to use it, you’ll see Clover Rapid Deposit on your Clover Web Dashboard.

Is it a loan?

Clover Rapid Deposit is not a loan. It’s your money, which you’re receiving in minutes, rather than waiting a few days for your deposit to appear in your bank account.

How your account is kept safe

To keep your account safe, we don’t store your debit card information. Instead, we keep a token, which is safe and secure. Each time you request a deposit, you’ll receive an identification code in your email to verify your identity. Only people who have Employee app owner permissions can request a Clover Rapid Deposit.

What’s the fee?

There’s normally a 1% fee for each Clover Rapid Deposit, which is deducted from your regular deposit on a monthly basis. (You can check your fee amounts in your monthly statements.)

How to set up Clover Rapid Deposit

To set up Clover Rapid Deposit:

      1. On a web browser, log in to the Clover Web Dashboard.
      2. Click Deposit Now.
      3. Click Get Started.
      4. Enter your password.
      5. Click Continue.
      6. Fill out the fields to begin linking your card.
      7. Click Link Card.
        On the next screen, you’ll see the success message for successfully linking your card. Note that you can only link an eligible debit card issued in the United States. (Eligible card types are Visa and Mastercard.) Your money will be sent to the account associated with this card.
      8. (Optional) To get money for your first Clover Rapid Deposit, complete the following three steps:
        • Click Continue.
        • Enter the identification code (valid for 5 minutes) you received by email. If the code expires, click Resend.
        • Click Deposit Now for the amount shown.

 

Got an error message that you can’t use this card?
Check if the debit card is expired and make sure if it’s an eligible debit card type. Eligible debit card types are Visa and Mastercard.

 

Deposit didn’t go through?
Try again. If it’s still not working, check to make sure the debit card is still valid and the account is open. Make sure that the debit card has not been reported lost or stolen. Also consider checking your network for any connectivity issues.

Schedule regular Clover Rapid Deposits

You can set up a schedule to automatically get same-day Clover Rapid Deposits.

 

Before you can schedule Clover Rapid Deposits, you’ll need to set up Clover Rapid Deposit and link to your bank account with an active debit card. Read about setting up Clover Rapid Deposit.

 

For best results, schedule regular deposits just before the close of your business day to capture the highest funding amount.

 

To schedule regular Clover Rapid Deposits:

      1. On a web browser, log in to the Clover Web Dashboard.
      2. At the left, choose Account & Setup.
      3. On the Account & Setup page, under About Your Business, select Rapid Deposit.
      4. On the Clover Rapid Deposit page, choose Schedule Now.
      5. On the scheduling page, select one or more days of the week and use the drop down list to select a time.
      6. Choose Schedule.

 

Your Clover Rapid Deposit schedule is now set up. You can come back here to adjust it at any time

 

Update your linked card for Clover Rapid Deposit

Update your debit card link when your old card expires or you want to change cards.

 

To update your linked debit card:

      1. On a web browser, log in to the Clover Web Dashboard.
      2. Select Setup > Rapid Deposit.
      3. Click Edit.
      4. Edit the fields as necessary.
      5. Click Update Card.
        You will receive an email confirming that your card has been updated. You can find more information about your funds in the Reporting app.

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BASYS Processing is a contracted Reseller of the First Data (and/or Clover) Solutions. This web page or website is not an official page of First Data Corporation, Clover, its subsidiaries, or affiliated businesses.
© 2020 First Data Corporation. All rights reserved. The Clover name, logo and related trademarks are owned by Clover Network, Inc., a wholly owned subsidiary of First Data Corporation,
and are registered or used in the U.S. and many foreign countries.

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