ACH Setup and Timing

How do you connect to my bank to initiate ACH transactions?

The Payment Automation feature uses ACH debits to pull money from your account when you release an ACH payment batch. There is no need to provide us with your bank login credentials. To ensure funds can be debited from your account, please verify that your bank account allows ACH debit transactions from Originator ID "945440567_". The underscore represents a mandatory blank space that must be present at the end of the ID number.

Do I have to use a specific bank with Payment Automation?

The Payment Automation feature does not require you to open an account with a particular bank. In most cases, you can connect directly to your existing account. We do have the two following requirements for your bank/account:

• The bank must be a US based bank

• Your account must be a business level account (No consumer level accounts allowed)

How long does it take for ACH Payments to reach a payee?

Standard ACH payments can take between 4-5 business days to reach the payee. The payment will typically reach the payee one business day after the debit posts to our account. All payments must be released by 5:00pm ET to be processed that day. Payments released after 5:00pm ET will be processed the following day.

Below represents approximate payment timing:

Payment Released	Payee Receives
Monday before 5:00pm	Friday Morning*
Tuesday before 5:00pm	Monday Morning*
Wednesday before 5:00pm	Tuesday Morning*
Thursday before 5:00pm	Wednesday Morning*
Friday before 5:00pm	Thursday Morning*

* Factors at receiving banks may delay timing. All times in Eastern Time (ET) and represent approximate deadlines.

Why is my ACH payment not available for release?

Below are common reasons why a payment is not available for release. You may also refer to Payee Payments > Release Payments > Not Ready for Release > Reason for specific information related to your payment. Here are a few of the most common reasons:

• The vendor hasn't been onboarded into Charted Payments as a valid payee

  • Transactions will only flow to Charted for vendors that have been onboarded as a Payee. Follow the import payee process to invite your payee and add and approve a payment method.

• The GL account on the bill payment is not linked to a funding source within Charted

  • To resolve this, please follow the steps here to link bank accounts. Then, void and re-create your bill payment.

• The payee has not completed the invite to provide payment information or you have not approved the supplied payment method.

  • Review the Payee and re-send the invite to remind the Payee to complete their information or approve the payment method provided

• The payment is over the maximum allowed amount.

  • Currently payments are limited to $500,000. If you need to pay a payee more than the maximum allowed amount, you can split into separate bill payments.

• The payment is not in a supported currency

  • Currently all payments must be in US Dollar.

After I release an ACH payment, when will the funds be debited from my bank account?

Typically, funds are withdrawn from your bank account within 1–2 business days, depending on your bank. You can confirm the actual debit timing in Charted by checking the payment’s Withdraw Date in Payments History once it updates.