24/7 internal settlement
24/7 Internal Settlement is Cross River's new payment facility, which allows customers to send payments within our network, to each other, 24/7/365. Transactions are processed quickly, within about 15-30 minutes.
To be able to use this transaction type customers and their counter-parties must hold a Cross River Deposit Account.
This payment type is only available for payments made from a Cross River account to another Cross River account. This feature must be configured at account level.
Standard ACH transaction fees apply to 24/7 Internal Settlement transactions.
To send an 24/7 Internal Settlement payment, follow the steps in Payments.
This transaction type uses ACH payment rails, but Cross River will process these transactions On-Us, if they are between two parties on our network. It is different from traditional ACH payments as the funds stay within our bank, which removes additional processing time required when funds are transferred between different financial institutions.
This leverages Cross River settlement account to submit transactions via ACH on-us for 24/7 settlements.
Click New Payment and then ACH Batch.
The ACH Batch page displays.
- Click SEC Code and select CCD.
- Click From Subsidiary and select or enter the name of the subsidiary that the payment will be sent from.
- Click Account and enter the account number that this payment will be sent from.
- Click Effective date. Select the current date. Do not plan this transaction type for a future date.
When you select the current date in the Effective Date field, the following disclosure displays:
- Click Agree to continue.
- In the Recipients field. Select the account you want to send the transaction to. The field stores all accounts you have used previously. To add a new or first time recipient see Add a recipient .
- Enter the transaction dollar amount the Amount field. For this payment type each transaction can be $1M or less.
- Click Agree to continue.
- In the Recipients field. Select the account you want to send the transaction to. The field stores all accounts you have used previously. To add a new or first time recipient see Add a recipient .
- Enter the transaction dollar amount the Amount field. For this payment type each transaction can be $1M or less.


