A payment rail is the method by which Arix transfers funds. Arix uses these rails:
To track rails, use the RailId you receive back after the API call.
These properties are returned for rail transactions.
Every rail includes a GUID, which is a unique identifier for the rail which you can use to match the rail request to the rail response.
Unique identifier for a rail.
Unique identifier for a loan.
Type of rail for payment.
Order the loan were processed - starts with number 1.
Amount attempted to process on this rail. If left blank, Arix attempts to process the full balance.
ID of the MPL.
ID of the issuing bank.
Indicates if the loan transmission failed.
Type of loan.
Dollar amount funded.
Unique identifier for a rail transaction.
Result of the funding. See Enums.
Date the rail was processed.
Unique identifier of the transaction group.
The check was cashed. This event doesn't impact the status of the loan.
The check instruction is in process. This event doesn't impact the status of the loan.
The check instruction request was received. This event doesn't impact the status of the loan.
The check was canceled before it was mailed. This event doesn't impact the status of the loan.
The bank reserves 1.5 - 2 hours for pre-processing of funding before the network cutoff times below. Only loans that completed all underwriting checks are funded. Loans that miss a cutoff will auto-roll to the next processing window.
Cut off is 16:00 EST. The Fed accepts submissions until 18:00 EST.
ACH SD (Same Day)
Cut off is 13:00 EST. The Fed accepts submissions until 14:45 EST.
Extended Same Day cut off is 14:30 EST. The Fed accepts submissions until 16:45 EST.
Cut off is 15:00 EST.
Support for 3 MC RPPS processing cycles:
Cut off is 20 minutes before a cycle start time.
24/7 (no cutoff times)
ACH returns are received in batches, with the following cutoff times:
Updated 4 months ago