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.
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.
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.
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.
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.)
To set up Clover Rapid Deposit:
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.
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:
Your Clover Rapid Deposit schedule is now set up. You can come back here to adjust it at any time
Update your debit card link when your old card expires or you want to change cards.
To update your linked debit card:
Connect with us for updates, insights, and business resources.
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.