Question
I've noticed an ACH-US transaction that seems to be taking longer than usual to settle. Why?
Answer
The transaction was submitted after the cutoff time
- ACH transfers are batch-processed by the Federal Reserve, which requires institutions to adhere to cutoff times for transaction batches
- Any transaction submitted after the cutoff time will be batched out the following business day. Our cutoff times are listed here
The transaction is stuck in 'Created' status
- Check the sending node to ensure there are sufficient funds to cover the transaction
- Check your platform fee node to ensure there are sufficient funds to cover the fee for the transaction
Banking Holidays
- ACH transactions will not be processed on any banking holidays recognized by the Federal Reserve
- This could lead to a delay of one (1) business day
Transactions in 'Queued' status
- Transactions with a 'Queued-By-Synapse' status can be delayed as they require manual review from our Compliance team
- This can take up to two (2) business days
- Below are the most common reasons that a transaction may be queued:
Queue Code Queue Message Q06 KYC unfinished on Sender Q07 KYC unfinished on Receiver Q10-E Transaction outside the scope of platform flow of funds Q10-F Platform is not allowed to transact in the sender's country Q10-G Platform is not allowed to transact in the sender's country Q10-H Sender (or Receiver) has been flagged Q48 User may be on Screenings List
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