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Escrow Payments Setup

Escrow Payments Setup

Owned by Nikola Keravica
Last updated: Jun 24, 2025 by Joe Murgio

Hello everyone,

We’re excited to introduce a new feature called the Escrow Feature. This tool is designed to automate your deposit management, especially if you’re using the "Pay on Pickup" option. Here’s a comprehensive guide on how it functions and how you can make the most of it.

💡 What is the Escrow Feature?

The Escrow Feature allows you to:

  • Automate deposits even when using Pay on Pickup.

  • Control funds by maintaining a specific daily balance.

  • Customize payouts based on your daily operational needs.

🔍 Where to Find It

  • Go to Manage Payments

  • Then select Payout Setup

⚙️ Setting Up Your Deposits

✅ Daily Settings

You’ll see boxes for Monday through Friday. Here’s how each entry affects your deposit:

  • Enter a Dollar Amount → That amount stays in your account; the rest is deposited.

  • Enter 0 → All available funds will be deposited that day.

  • Leave Blank → No automatic deposit; that day is manual only.

📊 How to Determine Your Escrow Balance

To figure out what you should set for each day:

  1. Run your Pay on Pickup (POP) Usage Report.

    • Look at how much you typically spend each day on POP cards.

    • Break it down by day of the week.

  2. Set daily escrow amounts accordingly.

    • For example, if you typically spend $500 on Mondays and $750 on Fridays, set those amounts to ensure sufficient coverage.

  3. Build your escrow buffer.

    • If your balance is currently low, you can:

      • Use manual deposits until it builds up, or

      • Let the Escrow feature hold funds until your target balance is reached.

    • Once it's built, deposits will return to normal behavior.

📅 Example Setup Scenarios

Scenario 1: Daily Deposits

  • Set all days to 0.

  • All available funds are deposited daily.

Scenario 2: Weekly Deposit (e.g., Wednesday)

  • Set $500 on Wednesday.

  • On that day, your full balance minus $500 will be deposited.

Scenario 3: Weekend Coverage

  • Set $500 for Thursday and $1000 for Friday.

  • This ensures you have enough funds for weekend POP usage.

Scenario 4: Large Escrow Reserve

  • Set $5000 for Friday.

  • Only funds over $5000 will be deposited that day.

Scenario 5: Manual Payout Days

  • Leave any day's field blank for manual control.

📌 Key Reminders

  • Weekend Coverage: Set a higher Friday amount to cover Saturday and Sunday.

  • Update Anytime: You can adjust your settings whenever needed.

  • Deposit Delay: Using this feature causes a one banking day delay on deposits.

  • Manual Deposits Always Available: Even with Escrow set, you can still initiate manual transfers.

✅ Conclusion

The Escrow Feature gives you smart, flexible control over your deposits—especially critical when using Pay on Pickup. Review your POP usage, set the right balance for each day, and adjust anytime based on your needs.