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Processing credit card transactions is a two-step process. When you perform a sale 
transaction, the credit card's limit to buy is reduced. The processing company authorizes 
the transfer of that amount of funds from the cardholder's account to your account. 
However, the funds are not actually moved to your bank account at that time. Any 
transactions you've processed throughout the day need to be re-transmitted to the 
processing company as a batch. Depending on whether your processing company is 
terminal based or host based, this re-transmission process is called settlement or closure. 
Terminal based systems have batches that are settled, and host based systems have 
batches that are closed. 
 
• 

Settlement -- On a terminal based system, the information needed for re-transmission 
is stored on your computer system. You manually settle your batch, usually at the end 
of each business day. 
 

• 

Closure  -- With a host based system, the information needed for re-transmission is 
stored on your processing company's computer system. With a host based system 
you can be set up in one of two ways. 

 

1. 

You can be set up for Auto (Time Initiated) Close. At a certain time during the 
day (varies by processing company), host based systems looks for any 
transactions you may have transmitted to them. If you have transactions waiting 
for batch closure, they will automatically be closed.  

 

2. 

You can be set up for Manual Close. This setup is basically equivalent to being 
Terminal Based. You, the merchant, are responsible for closing your batch. 

 
Essentially: individual transactions are authorized (you plan to transfer the funds), but 
batches are settled/closed (you actually initiate the transfer of the funds). 
 

 

  Unless you settle or close your batch (or your processing 

company does it for you), you will not receive your money. We recommend that 
you settle or close your batch daily. 

 

( 

Even after settlement, your money will not immediately be transferred to 

your account. The transfer process will often take one to three business days, 
depending on your bank and processor. 

 
 

 
There are several types of credit card transactions. The different types of transactions are 
also known as actions. Here is a list of the various transaction types with general 
descriptions: 
 
Sale -- This action decreases the cardholder's limit to buy. It authorizes a transfer of funds 
from the cardholder's account to your account. 
 

 

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