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Disclaimer:

• Sila is not responsible nor has control over any transaction flow that falls outside of the Sila Ecosystem. If you experience any delays for a credit transaction, please contact the bank that is being credited for further clarification.
• Transaction statuses found in the transaction dashboard and webhooks are an estimate.
• To limit ACH returns, there is a padding implemented which means Sila is estimating when these transactions SHOULD be completed by.
• Transfer transactions are the only transactions Sila has full control over, therefore Sila cannot guarantee complete accuracy regarding when an end user will see the funds debited or credited to their bank account.

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Recent Changes

As of November 2023, there are additional Same Day processing windows, reflected in the Same Day chart below. The Success Poller is run at the top of every odd hour to catch the latest return files.

Terminology

• ODFI: the Originating Depository Financial Institution - the sender. In Sila's case, the ODFI is Sila's banking partner.
• RDFI: the Receiving Depository Financial Institution - the receiver. In Sila's case, the RDFI is the end-user's bank.
• An ACH push is where the account at the RDFI is credited; funds are deposited into that account.
• An ACH pull is where the account at the RDFI is debited; funds are withdrawn from that account.

ACH Transaction Timing Concepts

Distinction between the various types of times

There are four different times to consider when trying to determine the availability of funds:

• ACH transaction creation time on the Sila platform.
• Transmission of that ACH transaction to the Federal Reserve (the Automated Clearing House). This is also referred to as the cutoff time.
• In the case of an ACH pull (an /issue transaction), when the funds become available in the user's wallet on Sila's platform.
• In the case of an ACH push (a /redeem transaction), when the funds become available in the end-user's bank account.

Standard ACH

• Any Debit (pull, /issue) transactions that are initiated before 5:30 pm PT (Monday - Friday) SHOULD be reflected in the user’s wallet within two business days by 7:00 pm PT (Monday - Friday).
• Any Credit (push, /redeem) transactions that are initiated before 5:30 pm PT (Monday - Friday) SHOULD be reflected in the user’s bank account by the end of the following business day.

Same Day ACH

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Debit / Pull Transactions

Debit, pull, /issue_sila transactions, please be aware that we wait a full 49+ hours for funds to become available in a user's Sila wallet due to potential returns.

Automated Clearing House Same Day cutoff and settlement times

RDFI Funds Availability (ACH Push, /redeem)

The Funds Availability (RDFI local time) column in the below table is only applicable to an ACH push transaction (a redeem), where funds are sent to a user's bank account.

Sila's banking partner (the ODFI) requires that Sila's cutoff times are earlier than the ODFI cutoff times in order to allow the ODFI to process Sila's submission and forward it on to the ACH network.

The below table shows the cutoff times for the Automated Clearing House (ACH) network and the estimated settlement times for the RDFI

Sila Wallet Funds Availability (ACH Pull, /issue)

The below table shows Sila's cutoff windows and the settlement times funds are estimated to be available in the Sila wallet

Why the discrepancy between the RDFI funds availability and the user wallet settlement times?

In short, due to potential returns.

What's an ACH return?

In the case of any ACH transaction, but more likely in the case of an ACH pull where funds are withdrawn from a user's bank account, the user may dispute the transaction, and the RDFI is obligated to request an return of the funds from the ODFI. US banking law says that a consumer has the right to request a return of any ACH withdrawal for up to 60 days, but the majority of returns are received by the ODFI within two business days.

Funds are not made available in the user's wallet until a return is NOT likely.

In order to determine if an ACH transaction will have a return requested, Sila will wait for two business days, and only then if no return request has been received by the RDFI does Sila consider the transaction to be "safely settled" and will credit the user's wallet with the funds.

Same Day ACH Pull (/issue) Transaction Example

All times are in US/Pacific:

• An ACH Same Day transaction is submitted on Monday at 05:30.
• It's after the cutoff for the 1st Same Day window at 05:15, so it's sent to the ACH in the 2nd Same Day window at 09:30.
• It won't settle in the user's wallet until 11:00 on Wednesday, two business days later.

The following graphic shows the timings for the transmittal (which determines the cutoff time) and for when the funds are made available in the user's wallet (settlement time) for the various transmittal windows.

Note that dates in graphic below are from 2023.