Outgoing ACH Settlement Times: Webster-Backed Accounts:
There are two types of outgoing ACH transactions a "push" and a "pull." The difference between an ACH push versus pull payment is who is initiating the transfer.
- A push occurs when the Rho user initiates an outgoing transfer from their Rho account's available balance.
- Typically an ACH push can be 1-3 business days (Settlement times can vary based on the policies of the recipient bank).
- With a pull, the vendor (recipient) initiates a debit by requesting money from a Rho account (this process can be subject to additional verification).
- Typically an ACH pull can take 3-5 business days (Settlement times can vary based on the policies of the recipient bank).
In regards to your new Webster-backed checking account. you will need to contact all your vendors sending funds to, and performing ACH pulls from, your account, to update them with your new account and routing number. You can refer to this step-by-step guide to help you download your new payment details or easily email them to your vendors right from the website!