When you have a record-breaking day of sales, you shouldn’t have to wait too long for the money to land in your business’s bank account. The more quickly you can access the funds, the better your cash flow.
Most of the best credit card companies for fast payments offer free next-day deposits and the option to choose same-day deposits. Here are our top picks.
Square: Best for most brick-and-mortar businesses
5.0
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Square is a solid option for businesses that have a storefront and need an inexpensive POS system. In terms of payment speed, Square offers next-business-day deposits as its standard. Same-day transfers are also available seven days per week, but they cost 1.75% of the transaction total.
Square isn’t the only all-in-one POS solution with built-in payment processing capabilities. But it’s certainly one of the least costly and easiest to set up. And, it has plans tailored to a variety of food-industry, retail and service-based businesses.
Free next-business-day deposits.
Same-day transfers available for a fee.
No long-term contracts or termination fees.
Complex industries might prefer a more specialized system.
Finix: Best for larger small businesses
4.8
NerdWallet rating
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Finix’s personalized approach to payment processing is best for larger small businesses processing more than $5,000 each month. Finix offers next-day deposits for free, and you can pay extra for same-day deposits. As opposed to charging a flat processing rate across the board, like Square does, Finix charges a monthly fee in exchange for lower interchange-plus rates. These credit card processing fees can be more cost-effective for higher-volume businesses.
Same-day transfers available for extra.
Subscription model can help high-volume businesses save money.
No long-term contracts or termination fees.
Limited POS hardware options.
No direct accounting software integrations.
Chase Payment Solutions: Best built-in banking partner
4.6
NerdWallet rating
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Processing payments through your bank comes with its perks. In particular, Chase Payment Solutions offers free same-day deposits (for transactions made before 8 p.m. ET every day of the week besides Saturday) to businesses using a Chase business checking account.
Most payment processors charge extra for same-day deposits. Next-day deposits are available on weekdays for payments processed before 10 p.m. ET.
Free next- and same-day deposits when you use a Chase business checking account.
Using your bank as your processor makes deposits more convenient.
No long-term contracts or early termination fees (for businesses that don’t opt for custom pricing).
Free POS software plan for Chase QuickAccept transactions.
Chase Business Complete Checking Account comes with a $15 monthly service fee if certain conditions aren’t met (e.g., meeting a minimum balance of $2,000).
Payanywhere: Best for tracking customer reviews
4.0
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Payanywhere stands out for its quick deposits and reputation management tools. Businesses can sign up for next-business-day or same-day deposits free of charge. The cutoff time for next-day deposits is 10 p.m. ET. To be eligible for same-day deposits, however, payments need to be processed by 10:30 a.m. ET. That’s pretty early in the day for lots of businesses. However, it might be all right for operations, like coffee shops, that do a bulk of their sales in the morning.
Payanywhere is also useful for businesses trying to keep a closer eye on customer reviews. You can connect Payanywhere to your Google Business Profile, so that you can respond to reviews from within the platform.
Free next- and same-day deposits.
Makes it easy to respond to customer reviews.
Free POS software plan for mobile reader.
Cutoff time for same-day deposits is 10:30 a.m. ET.
Lack of shopping cart integrations.
QuickBooks Payments: Best for invoice payments
3.8
NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
QuickBooks Payments is ideal for service-based businesses that transact mostly via invoice and use QuickBooks Online for accounting. Normal deposits take two business days on average, which is a little longer than its competitors. However, businesses can pay a 1.75% fee to access their funds on the same day.
This is convenient for businesses that already send invoices through QuickBooks Online. That way, when the invoice is paid, QuickBooks Online automatically records the transaction.
Built into QuickBooks Online.
Same-day deposits available for extra.
No long-term contracts or termination fees.
Normal deposits take two business days on average.
