Faster payments are available through the ACH Network.
But faster payments come at a higher cost to businesses because as transaction speeds increase—so does the risk.
ACH transactions typically take 5 days to complete. This process allows for ACH Return Codes to be received and for the transaction to be returned to the Originator without being completed.
With Next Day ACH, the initial portion of the transaction is expedited, becoming available within the Dwolla Network on the NEXT business day. Businesses remain responsible for ACH Return Codes, which are typically received 3 business days after initiating a transaction.
If that sounds complex, it should. Understanding ACH transfer timelines is a confusing task.
The point is, for an additional cost, Next Day ACH can speed up a portion of a transfer, cutting significant time from a standard ACH transfer—which takes up to 5 days to complete.
These graphics illustrate ACH transaction timelines through Dwolla.