When you have a record-breaking day of sales, you shouldn’t have to wait long for the money to land in your business’s bank account. The quicker 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. They also have same-day deposit options. Here are our top picks.
Square: Best for most brick-and-mortar businesses
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 1.95% 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.
Pros
Free next-business-day deposits.
Same-day transfers available for a fee.
Free POS software plan.
No long-term contracts or termination fees.
Cons
Complex industries might prefer a more specialized system.
Free plan processing rates are more expensive than competitors.
Pricing
Payment processing fees
- 2.6% plus 15 cents for in-person transactions with Free plan.
- 3.3% plus 30 cents for online transactions with Free plan.
- 2.5% plus 15 cents for in-person transactions with Plus plan.
- 2.4% plus 15 cents for in-person transaction with Premium plan.
- 2.9% plus 30 cents for online transactions with Plus and Premium plans.
- 3.5% plus 15 cents for manually keyed transactions.
Monthly software fees
- $0 for Square Free plan.
- $49 for Square Plus plan.
- $149 for Square Premium plans.
» MORE: Best POS systems
Finix: Best for larger small businesses
Finix takes a more personalized approach to payment processing. That's because it provides dedicated merchant accounts as opposed to aggregated ones. This gives you more control over how and when your funds move. There's less account freeze risk too.
Finix charges $250 and up per month (or $79 per month for NerdWallet readers) in exchange for lower interchange-plus rates. This credit card processing fee structure can be more cost-effective for high-volume businesses.
The company also offers next-day deposits for free. Same-day deposits cost an extra 1.5% of the transaction total.
Pros
Free next-day deposits.
Same-day transfers available for extra.
Subscription model can help high-volume businesses save money.
No long-term contracts or termination fees.
Cons
Limited POS hardware options.
No direct accounting software integrations.
Pricing
Payment processing fees
- 8 cents plus interchange for card-present transactions.
- 15 cents plus interchange for card-not-present transactions.
Monthly software fees
- $79 and up for NerdWallet readers. Otherwise, monthly subscription rates start at $250 per month.
- One-month free trial for NerdWallet readers.
Chase Payment Solutions: Best built-in banking partner
Processing payments through your bank comes with its perks. In particular, Chase Payment Solutions offers free same-day deposits. The caveat is that businesses must have a Chase business checking account. These deposits pay out transactions made before 8 p.m. ET every day of the week besides Saturday.
Most payment processors charge extra for same-day deposits. Next-day deposits are available on weekdays for payments processed before 10 p.m. ET.
Pros
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.
Cons
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).
Pricing
Payment processing fees
- 2.6% plus 10 cents for in-person transactions.
- 2.9% plus 25 cents for online transactions via Authorize.net.
- 3.5% plus 10 cents for keyed transactions, payment links and invoicing.
Monthly software fees
- $0 per month for in-person payments.
- $9.95 per month and up for e-commerce payments.
Payanywhere: Best for tracking customer reviews
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 alright 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.
Pros
Free next- and same-day deposits.
Makes it easy to respond to customer reviews.
Free POS software plan for mobile reader.
Cons
Cutoff time for same-day deposits is 10:30 a.m. ET.
Lack of shopping cart integrations.
Pricing
Payment processing fees
- 2.69% for in-person transactions.
- 3.49% plus 19 cents for online, keyed and virtual terminal transactions.
Monthly software fees
- $0 if using only the 3-in-1 reader.
- $19.95 per device if using the Smart Terminal, Smart Terminal Mini or Smart Keypad.
- $29.95 per device if using the Smart PINPad Pro or Smart Flex.
- $49.95 per device if using the Smart POS+.
QuickBooks Payments: Best for invoice payments
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. That's 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.
Pros
Built into QuickBooks Online.
Same-day deposits available for extra.
No long-term contracts or termination fees.
Cons
Normal deposits take two business days on average.
Pricing
Payment processing fees
For QuickBooks Online users
- 2.5% for in-person payments.
- 2.99% for online and invoiced payments.
- 3.5% for manually keyed payments.
- 1% for ACH transactions.
For QuickBooks Desktop users
Pay as you go plan (no monthly fee):
- 2.4% plus 30 cents per in-person transaction.
- 3.5% plus 30 cents per keyed-in or invoiced transaction.
- 1% per ACH transfer.
Pay monthly plan ($20 monthly fee):
- 1.6% plus 30 cents per in-person transaction.
- 3.3% plus 30 cents per keyed-in or invoiced transaction.
- 1% per ACH transfer.
Monthly software fees
- $0 if you already have a QuickBooks Online plan.
- $38 for Simple Start plan for new QuickBooks users.
- $75 for Essentials plan for new QuickBooks users.
- $115 for Plus plan for new QuickBooks users.
- $275 for Advanced plan.
- QuickBooks Desktop users pay an annual subscription fee for the accounting software.
» Looking for more options? Explore our full list of the best credit card processing companies
