We are pleased to announce an update to the payment schedule for those races that use our Advanced Payment (Weekly) options that will get more of your race proceeds to you sooner. We are moving the payment date to Tuesday from the current Monday schedule so we can forward more race proceeds to you including transactions that occurred all the way up through Monday 10:00 pm GMT (currently 6:00 pm EDT). This is an improvement of three collection days versus the current payment schedule.
Effective Tuesday September 15, 2015 we will begin initiating weekly payments for Advanced Payment accounts (both check and direct deposits) on Tuesdays instead of Mondays. The downside is that you will receive your payments one day later than you normally would. The upside is that the weekly payments will include 7 days of transactions beginning on the previous Tuesday at 10:00 pm GMT all the way up through Monday 10:00 pm GMT. By waiting one extra day for your payment you will receive three extra days of transactions with each payment including the weekend. Under the current payment schedule payments initiated on Mondays only included transactions through the previous Friday 10:00 pm GMT.
Following are the Current and New weekly payment schedules for weekly Advanced Payment processing. Please note that you will receive a payment representing 10 collection days in your first payment on the new schedule. The extra three days represent a “true up” between the Current and New payment schedules.
*There are no changes to Quickstart payment account schedules or daily payments under the Advanced Payment account schedules.