ACH FAQs (Payment Method, ACH Transfer, Bank Transfer, ACHQ)

TABLE OF CONTENTS

• Which providers offer ACH?
• How long does it take for an ACH payment to settle in an escrow account? 
• Is an escrow account required for an ACH transfer?
• How do I control when to transfer funds (via ACH and credit cards)? 
• Is there an email notification if an ACH payment fails? 
• Is there a way for investors to manually add their routing and account numbers to initiate payment via ACH?

Which providers offer ACH?

WB partners with several providers that you are welcome to use.  Please feel free to click on each of the links below to lean more: 

• WealthBlock Native Payments 
• North Capital
• ACHQ

How long does it take for an ACH payment to settle in an escrow account? 

North Capital information here: 

ACH & CC transactions are processed at 4:00 PM Mountain Time each business day in a batch process, anything submitted after 4:00 PM that business day will be scheduled with next business day’s batch.

Once batched:

For ACHs: 

These transactions will settle at 2:00 PM Mountain Time on the 3rd business day after the 4:00 PM ACH batch day.

Is an escrow account required for an ACH transfer?

WB Native Payment solution and ACHQ do not require escrow accounts.  Should you decide to use North Capital for ACH, you will need to provide your escrow account details.

How do I control when to transfer funds (via ACH and credit cards)? 

You can customize the Payment Method step of your Investor Flow to determine the timing of any transfers.

1. Select Offers from the left menu
2. Click into an offer
3. Choose Investor Flow on the left
4. Click the gear icon on the Payment Method step
5. Use the drop-down menu to select When should funds be transferred?
   • Payment can be sent as soon as the user submits their payment information
   • Payment can hold until the investment has been approved
     
     

Is there an email notification if an ACH payment fails? 

Yes, both the platform admin and investor will be notified if there are any issues with payment.

Is there a way for investors to manually add their routing and account numbers to initiate payment via ACH?

For security reasons, and to eliminate errors, we only use Plaid to securely connect banks.  If an investor's bank does not populate automatically, it might be that Plaid does not currently support that bank. 

In that case, the investor will need to select an alternative payment method.