New offering speeds up access to funds for business owners

July 23, 2020 | GET MORE : Future of Banking

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Everyday Funding makes funds available faster and more often as merchants receive payments from customers

Now more than ever, small businesses need to move faster, be more agile and demonstrate the flexibility needed to thrive in the current environment. For business owners, cash flow and timely funding are vitally important. They need continuous access to funds to pay bills and keep their business moving forward.

To give business owners more flexibility and control of their money, U.S. Bank recently launched Everyday Funding, a new service that makes funds available faster and more often as merchants receive payments from their customers. Everyday Funding is an innovative cash payment service designed to provide the fastest free funding in the payments industry by making funds available within hours, seven days a week.

Why did the bank think this was an important product to offer customers?

For many business owners, cash flow and timely funding are vitally important. Given the immediate customer need to gain more control over cash flow when trying to stay afloat, make payroll, pay utilities, attend to unexpected emergencies, or establish more efficient business management practices, there is huge value in being able to access their payment card proceeds exactly when they need it.

What are the benefits of Everyday Funding?

Faster funding enables more accurate payment reconciliation and the ability to better manage day-to-day expenses and operational needs. Faster receipt of funds may also help both large and small businesses to manage cash flows in real time and avoid expensive short-term financing.

How quickly will merchants receive their funds? What's the funding process?

It is the fastest free funding method available in the marketplace. With Everyday Funding, merchants can now receive funds within hours of a batch, seven days a week, including holidays and weekends.

Funding times vary by when the batch is submitted, but funds can arrive in as little as 90 minutes up to six hours later during the week, and once a day on weekends and holidays. Everyday Funding is available at no additional charge to U.S. Bank Payment Solutions merchants with a U.S. Bank checking account. 

What are the bank’s goals for Everyday Funding?

We strive to provide customers services they need to be successful, which means adapting our processes or developing new ways to meet those needs. We created Everyday Funding through our own proprietary capabilities to give U.S. Bank business customers an advantage.

Where can people learn more?

For more information about Everyday Funding, please visit usbank.com/everydayfunding. In addition, our branch employees are knowledgeable about our offerings and are always happy to talk to their customers about the products that can best meet their needs.

Media contact

Evan Lapiska, U.S. Bank Public Affairs & Communications
evan.lapiska@usbank.com