Payments
ACH
Time windows
5 min
when originate an ach payment , it's important to understand how the time of day the transaction is sent and the servicetype value impact when the funds actually arrive in the account you need to be aware of the time windows /#processing schedule payment effective date when an ach payment payment settlement in an account any transaction tied to an ach payment executes on the effective date of the payment the servicetype (either standard or same day ) and the configured cutoff time as per your contract influence the effective payment date when the payment is released to the federal reserve and receipt of payment is acknowledged, we execute the transactions on the payment effectivedate see payment types and the originate an ach payment api for example a same day payment originates on tuesday, 8/24 at 12 pm if the cutoff time is configured for 1 pm, the effectivedate of the payment is 08/24 a same day payment originates on tuesday, 8/24 at 3 pm if the cut off time is configured for 1 pm same day cutoff, the effectivedate of the payment is 08/25 because the payment originated after the cutoff time the service type remains sameday in the system, despite the next day effective date a standard payment originates on tuesday, 08/24 the effectivedate of the payment is 08/25 processing schedule cross river batch sends files received throughout the day to process a payment for any time window, the files must go through the due diligence process before the cutoff time cross river accepts same day and standard transactions in accordance with the fedach processing schedule shown below the windows ensure sufficient flexibility in processing and submitting transactions in a timely manner to meet settlement times talk to your {{relationshipmanager}} about window customization as a rule, payments need to be sent to cross river in advance of when we send the ach batch file, to be included in that time's payment batch fedach policy states " settlement for all ach items processed by a reserve bank pursuant to operating circular 4 will be made at the times set forth in the federal reserve policy on payment system risk and this document , as amended from time to time " same day ach window cross river sends ach batch file transmission deadline settlement schedule restrictions 10 00 am (10 00) eastern time (et) 10 30 am (10 30) et 1 00 p m et (1300 et) – current day monday through friday 2 15 pm (14 15) et 2 45 pm (14 45) et 5 00 p m et (1700 et) – current day monday through friday 4 15 pm (16 15) et 4 45 pm (17 45) et 6 00 p m et (1800 et) – current day monday through friday standard (future dated forward items) ach fedach policy states " settlement for ach items not eligible for same day will occur at 8 30 a m et on the later of (i) the next banking day or (ii) the settlement date that results from the application of paragraph 3 of appendix b of operating circular 4 " cross river sends ach batch file transmission deadline restrictions 10 00 am (10 00) eastern time (et) 10 30 am (10 30) et monday through friday 2 15 pm (14 15) et 2 45 pm (14 45) et monday through friday 4 15 pm (16 15) et 4 45 pm (17 45) et monday through friday 7 30 pm (19 30) et 8 00 pm (20 00) et sunday through thursday sunday through thursday 10 15 pm (22 15) et 10 45 pm (22 45) et monday through friday 1 45 am (01 45) et 2 15 am (02 45) et monday through friday