eCheck.Net Settlement Statement

The eCheck.Net Settlement statement manages all funds for eCheck.Net transactions processed and lists information for each entry. Return reports and alerts are not immediate, but your institution will be notified via this settlement statement. Please note there are multiple pieces to this statement as explained below:

1. “ACH Deposit Transfer” represents money that has been sent to the financial institution
2. The line item below any “ACH Deposit Transfer” is utilized to see the components included in the transfer
3. “Usage fees”are fees charged (on a transaction level) by Authorize.net. The most common fee is the per ACH transaction fee, however, this calculation can also include items such as returned item fees and chargeback fees. Note this only applies for financial institutions using the net billing method. 
4. This line item is an example of a returned item
5. This line item represents all transactions that settled on a certain day

Note: If under net billing, transaction-level fees are withdrawn on an aggregate basis. For example:

• Day 1: One ACH transaction occurs for $10 ($0.50 fee)
• Day 3: One ACH transaction occurs for $5 ($0.50 fee)
• Day 4: Two ACH transactions occur for $20 each ($1.00 fee)
• Day 5: Financial institution will expect to receive $8 (the $10 transaction on Day One minus $2.00 worth of fees) based on a 5-day settlement time period

Funding Calculation

If you click into “Funding Calculation” (B), the “Total Amount Funded” is the amount of the ACH payment that should be deposited later on that day. The “Total Held Charge Transactions” is the still pending amount that will be deposited at a future date (ACH payments take ~5 days to post). The report is broken down by different batches for accounts opened on different days. 

Billing Transfer

If you click on “Billing Transfer” (C), this outlines which fees are included in the amount associated with this line item. Note this only applies for financial institutions using the net billing method. Potential fees are outlined below (amounts may vary):

• Returned Item Fee: $3.00
• Chargeback Fee: $25.00
• Per-Transaction Fee: $0.50

Transaction Returned Items

“Charge Transaction Returned Items” (D) will outline which transactions were returned. You can also access a specific “Returns” report by migrating to “Reports” --> “Returns”.

By clicking on the “Original Trans ID”, the financial institution is able to see more details on which applicant was returned. 

Related to (A) and (B), click “Settlement – Charge Transaction” (E) to outline specific transactions that are part of a selected settlement date. Click specific transaction IDs to see further transaction detail.