ACH PROCESSING TIMES - INTERNAL

ACH PROCESSING STAGES AND TIMING

KOTAPAY
ACH Application Process
SLA: 2 - 3 business days
+ Member $0.00 prenote sent to KotaPay
+ Docusign Application generated and sent to member, Checkrun then manually uploaded in the KotaPay Online Portal

Payment Process
Payment Submitted to KotaPay - Processed nightly at 11 p.m.
+Payment Submitted confirmation via the File Acknowledgement Report (1-2 hours after member prenotes and payments have been submitted)
Payment Debited - Payment has been pulled from member bank account - Day 2
+Payment Debited confirmation via the Batches Report
Payment in Warehouse - 3 business days - if issue with payee account, insufficient funds, money will be reversed back to payor
Payment Credited - Payment has been pushed from the warehouse to the payee's bank - Day 4
+Payment Credited confirmation via the Cleared Items Report
Payment received by payee - Released by their bank on Day 5

Day One
STAGE 1 Payment Submitted
ACH STATUS - PENDING ACH - AWAITING RELEASE (PAYMENT CAN BE PULLED BACK UP UNTIL THE TIME THE PAYMENT SENT TO KOTAPAY)
STAGE 2 ACH SUBMITTED
STATUS - PENDING ACH - ACH FILE SUBMITTED (CANNOT CANCEL)
Day Two
STAGE 3 Payment Credited from Member Account
Day 2-4
Payment held in Warehouse
Day 4
Payment Funded/Cleared/Credited/Pushed to Member Bank
STATUS - ACH CLEARED - Payment details available in Archive
Day Five
Payment received by payee in their account

Updated on: 05/12/2022