ACH (Bank Account) Payment Statuses
When you accept an ACH (Bank Account) Payment in TapGoods PRO, our system sends this information to the processor. At this point, your transaction is marked as Pending. This status indicates that the payment has been successfully submitted but has not yet been processed.
Generally, ACH Payments go through two stages:
- Pending: Sent to the processor, but not completed yet.
- Failed: If a payment is marked “Failed”, something went wrong on the processing side, and the payment didn’t go through. This could be because of a mistake in the bank account information, lack of funds, suspicious activity, or many other reasons. If a payment fails, consider logging into your GrailPay portal to view the transaction in more detail. If you need additional help, reach out to payments@tapgoods.com.
- Succeeded: This means that the processor has processed the payment, and you receive the money.
Our system checks on ACH Payments every night to see if they’ve gone through. So, if a customer pays you and the bank processes it in a few hours, it will still show as pending until our nightly check. Usually, ACH Payments are completed in 24-48 hours, but sometimes it might take 3-4 business days.
- How long will it take for ACHQ to process a payment?
- Why does my payment still say “Pending”?
- How often does TapGoods update the status of a pending payment?
- What happens in TapGoods if an ACH payment fails?
- What is the difference between a failed ACH payment and a Chargeback?
FAQs
Q: How long will it take for GrailPay to process a payment?
The time it takes for ACH payments to process can change based on the bank. Our system updates the payment status every 24 hours with the newest information from the banks. GrailPay transactions are processed as digital checks and typically post within three business days. Here’s a detailed breakdown of the timeline for a typical ACH settlement:
- Monday: Payment instructions are received from TapGoods. GrailPay compiles the ACH files and forwards them to the Federal Reserve.
- Tuesday: The customer’s account is debited, initiating a 48-hour window for ACH returns (Day 1).
- Wednesday: The process continues to hold for any returns during the second half of the 48-hour return window (Day 2).
- Thursday: The initial 48-hour period concludes. GrailPay processes any final returns received overnight and prepares a settlement file, which is then sent to the Federal Reserve (Day 3).
- Friday: The funds are settled and made available in the merchant’s account.
This schedule ensures that all parties have a clear understanding of the timing of transactions and fund availability.
Q: Why does my payment still say “Pending”?
If the status of a payment says “Pending”, then the bank has not approved the transaction yet.
Q: How often does TapGoods update the status of a pending payment?
Our system updates the payment status every 24 hours with the newest info from the processor. So, if a customer pays you and the bank processes it in a few hours, it will still show as “Pending” until our nightly check. Usually, ACH payments are completed in 24-48 hours, but sometimes it might take 3-4 days.
Q: What happens in TapGoods if an ACH payment fails?
If an ACH Payment doesn’t process, it will show as Failed in your Billing History, but the customer's account will act as if the payment never happened. However, you can try to collect the payment again. You will receive an email from TapGoods informing you of the return with all pertinent details.
Q: What is the difference between a failed ACH payment and a Chargeback?
A failed payment in ACH transactions, commonly known as a return, can occur for one of many reasons, the most common being insufficient funds or invalid account number (the account number was entered incorrectly).
A chargeback in ACH, similar to credit cards, happens when a customer disputes a charge. They might contact their bank to challenge the transaction for various reasons, such as not recognizing the charge or not receiving what they paid for.
Want to know more?
Check out our Merchant Guide!