Payments are collected daily until the merchant-specified settlement time is reached, at which time all payments are submitted to the ODFI for settlement.
Debit/Sale. Transfers funds from the customer’s bank account into your (the merchant’s) bank account.
Credit. Transfers funds from your bank account into the customer’s bank account. A Credit payment requires the Original Payment ID of an earlier Debit/Sale payment, and the submitted Amount must be empty or the exact amount of the original Debit/Sale payment.
Void. Cancels a Debit/Sale payment. A Void payment requires the Original Payment ID of an earlier Debit/Sale payment. You can Void any unsettled payment (status P02 or P04). You cannot void a Void request.
Prenote. Refers to a Pre-notification payment that you can use to verify bank account validity. Pre-notification payments do not transfer any funds. Receiving banks (RDFIs) are not required to respond to a Pre-notification payment. Pre-notifications are not settleable payments, however they can be voided.