Toast Credit Card Processing and Billing FAQ

In this Article:

• Credit Card Processing
  • As a Toast customer, who is my credit card processor?
  • Do I need to "turn off" my old credit card processor? Will Toast do it for me?
  • When will I receive my credit card batches?
  • Why does a guest check have a payment processing for more than a day?
• Deposits and Bank Accounts
  • How do I find Toast deposits on my bank statement?
  • Where do I find credit card deposit information for reconciliation?
  • Why do you need my banking information?
  • I need to change the bank account that Toast has on file. How do I do that?
  • How can I see which account my payouts are going to?
  • Can I split payments between two or more accounts?
• Other Questions
  • How are fees withdrawn?
  • What is Toast's billing policy and where can I find it?
  • Where do I find invoices from Toast?
  • What should I do if I believe I've been billed incorrectly?
  • Where can I find my credit card processing fees on Toast reports?
  • I'm new to Toast. When can I expect my first credit card processing statement?

Credit Card Processing

As a Toast customer, who is my credit card processor?

In addition to being a technology partner, Toast also provides processing services for all of our customers. To ensure consistent support and accurate reporting, it's not possible to go through a different processor while using Toast. We strive to deliver transparent statements and to reduce some of the headaches associated with credit card processing. 
 

Do I need to "turn off" my old credit card processor? Will Toast do it for me?

Eventually, you'll no longer need to interface with your legacy credit card processor. We recommend having a conversation with whoever currently processes your credit cards - they'll have the information you need.

Toast cannot perform this task on your behalf
 

When will I receive my credit card batches?

Credit card batches created before 9:30 p.m. EST will be deposited into your bank account the next business day. For most restaurants, the 9:30 p.m. EST batch deadline is not met because service hours are often past 9:30 p.m. EST.

In most cases, credit card batches are created after a restaurant closes for the day. This results in an additional business day before the deposit is made into your bank account. 

Toast is automatically configured to capture one batch at 4 a.m. To opt out of the 4 a.m. batch time, please contact Customer Care via Toast Central.
 

Why does a guest check have a payment processing for more than a day?

If you see a payment that remains in an Authorized state for longer than usual, this means the payment is still pending and dependent on the guest’s bank institution for funding, which can take 24-48 hours.
 

Deposits and Bank Accounts

How do I find Toast deposits on my bank statement?

On your bank statement, you'll see a deposit line item from Fifth Third Bank showing CITIZENS NET SETLMT BANKCARD SYSCCD #############. For more information about credit card deposits, check out these Toast Central articles:

Where do I find credit card deposit information for reconciliation?

In , navigate to Reports > Payments > Settled deposits daily breakdown. This report provides data about processed credit card payments and how those sales will translate into bank account deposits. The Settled Deposits Daily Breakdown report also provides you with an itemized list of any credit card batches that were settled within the viewed range of the report.
 

Why do you need my banking information?

Accurate bank account information is crucial to ensuring that you receive your hard-earned funds. As your credit card processor, Toast needs to access the bank account that you want your credit card payments deposited into. We also calculate your monthly software fees and deduct hardware invoice amounts through an Automated Clearing House (ACH) process. 

If you need to update your banking information in Toast, see this Toast Central article: .
 

I need to change the bank account that Toast has on file. How do I do that?

To update your banking information in Toast, see this Toast Central article: .

Note: This will require the 8.1 Financial Accounts permission in your Toast account. 

If you're currently using Amex Direct, please contact American Express at 800-528-5200 to update your information for Amex deposits.
 

How can I see which account my payouts are going to?

In Toast Web, navigate to Toast account > Billing > Bank accounts. In the Accounts in use section, you'll see which account is used for both Deposits and Fees. You must have the 8.1 Financial Accounts permission in order to access this information.

Can I split payouts between two or more accounts?

You cannot split payouts between two accounts. At this time, your entire credit card deposit total must go into one account. While you may see the ability to set up a second bank account, this account is specifically for making payments to Toast.

Other Questions About Credit Card Processing and Billing

How are credit card fees withdrawn?

Credit Card fees are deducted on a daily basis. Unless otherwise specified, software fees, hardware fees, and services fees are withdrawn through an Automated Clearing House (ACH). 
 

What is Toast's billing policy and where can I find it?

Your billing policy is outlined in your Toast Merchant Agreement.
 

Where do I find invoices from Toast?

You can find all your monthly hardware and software invoices on , navigate to the Toast account > Billing > Invoices. 
 

What should I do if I believe I've been billed incorrectly, or haven't received a credit card processing statement?

If you've checked your invoices in Toast Web and you believe you've been billed incorrectly, or haven't received a credit card processing statement at all and should have (see ""), please contact Customer Care.

Where can I find my credit card processing fees on Toast reports?

In Toast Web, navigate to Reports > Payments, and select one of the following reports:

• • Deposit Totals Overview: Here you can see payments, refunds, fees, and net deposits over a selected period.
  • Settled Deposits Daily Breakdown: This is an overview of the settled date, sales date, total payments, total refunds, fees, and net deposits for a selected date range, and how much was backed out of the daily deposit fees. If you select a specific date on this report, you'll see breakdowns for Batches Settling and Customer Payments Settling for that date.
  • Processing statements: These are software fees and other debits and credits that were incurred over the billing cycle and are billed monthly. These statements can be downloaded or exported for your records. 

You can also check out the Payout Overview report, which includes and consolidates these three individual reports.

I'm new to Toast. When can I expect my first credit card processing statement?

Your first credit card statement will arrive within the first week of the month following the month you make your first credit card payment.