You can use Rho to send money via domestic wire transfer to any desired payee that is currently configured in Rho. You can schedule these transfers to happen immediately or at a later time, as well as schedule the transfers to be recurring transactions.
Settlement Time: Domestic Wire payments settle same-day if sent before 3:00 PM ET in most cases. Domestic wires are settled the next day if created after that cutoff. Settlement times can vary based on the policies of the recipient bank.
For more information about creating a Payee in Rho, see Adding Payees.
To transfer money, click the Banking icon from the Rho toolbar to open the Banking Dashboard. Click the desired account on the left side of the page to select it. Click the Make A Payment button.
From the Send Money page, click Domestic USD Wire.
Click the Payee Name and select the desired Payee from the drop-down list. When finished, click Continue.
Specify the transfer information, and then click Create:
Click the drop-down list to select the Rho account that the money is transferred from.
Enter the amount of money to be transferred from the Rho account to the payee in US Dollars.
By default, the money is scheduled to be transferred only once (One Time Only). To specify a recurring transfer, click the drop-down list and select the desired frequency:
- One Time Only (default)
- Every day
- Every week
- Every month
- Every year
Assign from Budget
To assign the ACH transfer to a specific Rho budget, click the drop-down list, and select the desired budget name. For more information about creating budgets, see Create a New Budget. (optional)
Enter any notes or information to be associated with the Wire transfer.
To attach a bill or invoice to the transfer, click the Add Attachment button. An open dialog window displays, allowing you to navigate to the location where the file is located, and then click Open.
When will the transaction begin processing?
By default, the money is scheduled to be transferred immediately (Now). To specify a later date, click Later and then click the calendar field to specify the desired date.
All immediate transfers are displayed on the Past Transfers page, and all scheduled transfers are displayed on the Scheduled Transfers page.
Note: If you schedule a recurring transfer using the How often? field, the Rho application bases the transfer on the date specified in the When should it go through the field. For example, if you schedule a monthly transfer (Every Month) with a scheduled date of 01/01/2022, then the first recurring transfer will occur on 02/01/2022.
Confirm Transfer Details
After you create the Wire Transfer a confirmation page displays. Review the transfer information, and then click Confirm Payment Details button.
When you click the button, Rho sends a confirmation code using the two-factor authentication method that is specified in your Account Settings page, which is typically SMS Authentication (text messages to your cell phone).
From the verification page, enter the four-digit code sent to your account and click Continue.
Note: To choose another method to verify the transfer, click the Use another method button and select another verification method (text message, phone call, or email).