When is a merchant typically expected to receive their funds?

The correct response is based on standard payment processing dynamics, particularly in the context of merchant transactions. Typically, once a transaction is approved, the actual transfer of funds from the acquiring bank to the merchant's account does not occur instantaneously. Instead, the funds are usually deposited in accordance with a predetermined schedule known as the deposit date, which can vary based on several factors including the merchant’s agreement with their payment processor, the type of transaction, and the payment method used.

When a transaction is completed, it undergoes processing through several intermediaries, including payment processors and networks, before reaching the merchant's bank account. The time between transaction approval and the deposit date can vary; however, it is standard for merchants to expect to receive their funds on this designated day, commonly referred to as the deposit date. This scheduling helps in accounting and ensures that funds are available to merchants on a consistent basis rather than in an unpredictable or random fashion.

While immediate transaction approval is desirable, it does not reflect the actual fund availability, which is why the deposit date is the correct response here.