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ACH Funding Schedule

The following is the ACH Funding Schedule for Merchants that accept ACH payments with INGAGE.

Batch Time will affect the funding schedule.

The ACH settlement and return window is based on ACH SEC Code.

*Batch Time: Customer Payment Date & Batch Date are NOT always the same day. Batch Date determines Effective Date. If the Batch Time is set after the 6:45 PM EST Cut-Off Time, then the batch will be the next day, and the Effective Date will be the day following. Setting a batch date after Cut-Off time for ACH essentially delays the entire process by 1 business day.

**ACH SEC Code "CCD": This transaction classification is for corporate authorized transactions. This means that the two parties have authorization in place for the movement of money on the ACH network, either credit, debit, or both. This authorization can be revoked in writing. In very rare cases, a business can dispute a transaction after the Return Window, but the burden of proof is on the party with the complaint and the complainant’s bank. Making a dispute does not guarantee a reversal of funds – proof of unauthorized activity is still required. Consumer protection laws allow more time to dispute ACH transactions compared to businesses.

 


Standard Settlement Schedule
On a standard schedule (without weekends or holidays) the time from Customer Payment (1) to Funds Deposit (4) is 4 calendar days and 4 business days.

Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

 

 

 

 


Customer Payment Date

 

 

ACH Payment by Customer in Bill Pay Platform, Virtual Terminal or other Gateway connection.

 

Batch Date*

 

Batch Time: 6:45PM EST / 5:45PM CST

 

 


ACH “Effective Entry Date(EED)

 

This is the date the transaction becomes effective at the ACH Processor and is confirmed by the “Originator/ODFI” to be sent for clearing by the Federal Reserve Bank.

 

 


Settlement Delay - Day 1

 

 

The settlement of ACH (CCD)** transaction funds is held for a standard time of 3 days, to eliminate the “Return Window” and confirm funds availability.

 

 

Settlement Delay - Day 2

 

 

 

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Settlement Date & Funds Deposit

 

Funds have cleared and are past the ACH CCD Return Window, so the funding is considered final. Customer should see a bank deposit.

 

 

 

 

Bank / Holiday Settlement Schedule
 On a standard schedule with one or more weekends or bank holidays, the same standard settlement schedule is followed (as above), except the weekend days and/or bank holidays are skipped, adding additional time to settlement.

In the example below, Customer Payment (1) occurs on Friday, Funds Deposit is 7 calendar days and 4 business days, the following Friday.

Sunday

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

 

 

 

 

 

 

 

 

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Customer Payment Date

 

 Weekend

Not a Business Day

 

 Weekend

Not a Business Day

 

 Bank Holiday

Not a Business Day

 


ACH “Effective Entry Date” (EED)


Settlement Delay - Day 1

 

 

 

 Settlement Delay - Day 2

 

 

Badge 4 with solid fill

Settlement Date & Funds Deposit