When it comes to payments processing, every business will process different volumes of payments in a given week. For some, that could be in the in the $200 to $5000 range. For others it could be in the $20k to $50k range.
With Joist Payments, we have a special system in place designed to protect you against the possibility of chargebacks associated with an unusually large payment -- this would be a payment that considerably exceeds what your business would normally process. We call this your reserve limit, and when a payment goes over this we hold it for 7 additional days while we verify that it's safe for you to receive.
The idea here is you should almost never run into this limit, and most businesses will never encounter a reserve hold like this. But in some cases, it can happen because we don't have your business set up on the right reserve limit.
By default, all Joist accounts start with a $10k a week reserve limit. This is because we don't yet have an accurate picture of what your normal payments processing range is. But we can fast-track this process and get you on a higher limit if needed.
The process is straightforward and can be completed on our end in just a few business days. To get started, just drop us a line at 1 800 976 9261 or [email protected] and let us know you'd like to have your reserve limit increased. We look forward to hearing from you.