Timing
The Federal Reserve provides five daily settlement windows during business days.
ACH Business Days
While Column is open 24/7, 365 days a year, the ACH system at the Federal Reserve is not. They process FedACH transfers Monday-Friday excluding these holidays.
FedWire has its own business hours. See the wire section for specific timing information.
Standard Timing
By default, Column sends ACH requests using standard timing. This means that, regardless of when the ACH is created, it will settle no later than the opening of the following business day.
| API Request Deadline | Target Settlement |
|---|---|
| 7:25am PST | 5:30am PT - next business day |
| 11:40am PST | 5:30am PT - next business day |
| 1:40pm PST | 5:30am PT - next business day |
| 4:55pm PST | 5:30am PT - next business day |
| 11:10pm PST | 5:30am PT - next business day |
It's possible, but not guaranteed that funds will arrive sooner than the Target Settlement.
Same Day Timing
Column allows you to send ACH transfers same day, provided they are submitted before the last API request deadline (1:40pm PST). ACH transfers submitted after the deadline will automatically be sent with standard timing.
| API Request Deadline | Target Settlement |
|---|---|
| 7:25am PST | 10am PST - same day |
| 11:40am PST | 2pm PST - same day |
| 1:40pm PST | 3pm PST - same day |
Creating same day transfers with the API
To send an ACH same day, it must meet the following criteria:
- The ACH must be submitted to Column no later than 1:40pm PST.
- The ACH must set
same_day=trueand/oreffective_on = today.
*If same_day=false, ACH will be sent with standard timing regardless of effective_date.
| Submission Time (PST)* | same_day | effective_date | Processed as same day? |
|---|---|---|---|
| Before 1:40pm | true | null | yes |
| After 1:40pm | true | null | no |
| Before 1:40pm | null | today | yes |
| After 1:40pm | true | today | no |
| Before 1:40pm | null | null | no |
| Before 1:40pm | false | today | no |
*Business days