Funding your loan / payment rails

a payment rail is the method by which arix transfers funds arix uses these rails ach parameters check parameters rpps parameters internal transfer (xpay) parameters instant payments parameters card parameters wire parameters important to track rails, use the railid you receive back after the api call funding is an automated process it is your responsibility to review your records before you create any loans or requests for funding put /loan/{id}/fundinginfo use this call to add new payment rails for a particular loan this api call replaces rails that haven't been successfully funded request url https // /loan/{ld}/fundinginfo you can use this call to attempt disbursements to the borrower in case of returns or failures make multiple disbursements, one or more rails, as needed add rails funds can be sent as one net sum or in multiple disbursements arix automatically calculates the sum of the loan and adjusts the amount down (if necessary) so that no funds that exceed the approved loan amount are sent important when you send a put call to update loan information, already processed rails and rails that are in the process of being funded aren't affected sample request in json put /loan/{id}/fundinginfo in this sample request, we used this api to request one disbursement of $7,000 using the rpps rail { "fundinginfoupdate" { "rails" \[ { "railtype" "rpps", "priority" 1, "amount" 7000, "rppsfields" { "billerid" "132654654632135423452", "billername" "anita loan", "consumernameatbiller" "testnameatbiller", "consumeraccountnumberatbiller" "5454546498195454" } } ] } } sample response in json put /loan/{id}/fundinginfo "rails" \[ { "rppsfields" { "billerid" "132654654632135423452", "billername" "anita loan", "consumernameatbiller" "testnameatbiller", "consumeraccountnumberatbiller" "5454543427795454" }, "id" "a974ce4a e7b3 4310 bc2b ac6900e79b1a", "railtype" "rpps", "priority" 1, "amount" 7000, "loanid" "ca485557 20c3 4a5b b123 ac6900da4728", "mplid" "tst", "isfailed" false, "loantype" "undefined" } ] railtransaction attributes these properties are returned for rail transactions every rail includes a guid , which is a unique identifier for the rail which you can use to match the rail request to the rail response attribute description railid guid unique identifier for a rail loanid string unique identifier for a loan railtype enums or null type of rail for payment select the railtype enum ach parameters ach parameters adjustment action parameters (not a payment rail) check parameters rpps parameters internal transfer (xpay) parameters rtp (instant payments) wire parameters card priority integer or null order the rails should be processed starts with number 1 if all the rails have the same number, arix processes them in the order they were received amount decimal amount attempted to process on this rail if left blank, arix attempts to process the full balance mplid string id of the mpl issuingbankid string id of the issuing bank isfailed boolean indicates if the loan transmission failed true or false loantype string type of loan amountfunded decimal dollar amount funded railtransactionid string unique identifier for a rail transaction fundresultrailresulttype result of the funding see enums docid\ lvby02dooerkrnbiiciyt message string message returned processedat datetime date the rail was processed transactiongroupid guid unique identifier of the transaction group rail cutoff times the bank reserves 1 5 2 hours for pre processing of funding before the network cutoff times below only loans that completed all underwriting checks are funded loans that miss a cutoff will auto roll to the next processing window rail type cutoff times ach cutoff is 16 00 est the fed accepts submissions until 18 00 est ach sd (same day) limited to $1,000,000 per transaction cutoff is 13 00 est the fed accepts submissions until 14 45 est extended same day cut off is 14 30 est the fed accepts submissions until 16 45 est cards 24/7 (no cutoff times) checks cutoff is 11 00 est mastercard rpps support for 3 mc rpps processing cycles 03 00 est – 05 00 est 13 00 est – 15 00 est 21 00 est – 23 00 est to have a transaction included in a processing cycle, it has to be submitted no later than 50 minutes before the cutoff any transactions submitted later than 50 minutes before the cutoff time, will flow to the next cycle internal transfer (xpay) 24/7 (no cutoff times) rtp (real time payment) limited to $1,000,000 per transaction 24/7 (no cutoff times) wires cutoff is 17 00 est wires are released to the fed once an hour the last release is at the cutoff time ach return cutoff times ach returns are received in batches, with the following cutoff times ach returns 1 first batch 12 00 am est 2 second batch 3 00 am est 3 third batch 11 30 am est 4 fourth batch 3 30 pm est 5 fifth batch 4 30 pm est