Yes. When you send a request for your customer to pay for an invoice through Fundbox, you will have the option of requesting to authorize the funds only. This means that those funds will be reserved from your customer’s Fundbox account for this purchase, but they will not actually be sent to you yet.
Once you are ready to ship the order and process payment, you will have the opportunity to adjust the final amount due. Only once you process payment, will we send you the funds and your customer’s net terms period will begin.
Your customer will receive an email asking them to accept your authorization request.
Once your customer confirms your authorization request, you will have 30 days to process payment before the authorization expires. You can speak to our support team to arrange a longer authorization expiration. If an authorization expires, the funds will become available to your customer again to use on other business purchases. The request for payment will be canceled and you’ll need to send a new request or complete the transaction with your customer directly.
What happens if the final amount due for an order turns out to be different than the amount authorized?
Sometimes the final amount due will turn out to be different from the original amount authorized. If the final amount due turns out to be less than the amount authorized, you will simply enter the lower amount when you process payment and we will send you the adjusted amount. The rest of the authorized amount will become available again for your customer to use on other business purchases.
If the final amount due turns out to be more than the amount authorized, you’ll enter the higher amount when you process payment. We will send an email to your customer asking for confirmation. If the customer confirms the adjusted amount, we will send you the funds.
What if the customer does not want to accept an adjustment to an authorized order?
If your customer declines the adjustment, we will cancel the request for payment and you can contact your customer directly to complete the transaction.
Can I process payment multiple times with one authorization?
You can only process payment once per authorization. If you would benefit from being able to process payment multiple times with one authorization request, please reach out and let us know.