This article explains the timeframe that it takes for eCheck (ACH) to reach an owners or vendors bank account.
We pay our payment processor extra for “One-Day Funding.” Here is what that means. When you process an eCheck (ACH) to your owners or vendors, it takes one business day to move the money from one account to another. A business day means that if you process the transaction on say a Monday, before the bank's transaction cut off time, it will fund on Wednesday (Weekends and holidays are not business days).
Every bank has a different transaction cut off. It’s usually sometime around noon for electronic payments. If you miss that cutoff, then the following day becomes your one business day, and it will not fund until the day after the business day (So two business days). The receiving bank can sometimes hold those funds as well, which is completely out of Rentvine's and our payment processors control.
- Process an owner eCheck (ACH) Monday morning. Owner or vendor will receive their payment on Wednesday if there is no receiving bank delay.
- Process an owner or vendor eCheck (ACH) late Friday afternoon before a holiday weekend. Since you missed the cut off, and Monday is a holiday, the payment will fund on Wednesday if there are no bank delays.
For best results, process owner and vendor payments early in the day and week