Payment rails
A payment rail is the method by which Arix transfers funds. Arix uses these rails:
Important
To track rails, use the RailId you receive back after the API call.
RailTransaction parameters
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.
Attribute | Description |
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RailId | Unique identifier for a rail. |
LoanId | Unique identifier for a loan. |
RailType | Type of rail for payment. |
Priority | Order the loan was processed - starts with number 1. |
Amount | Amount attempted to process on this rail. If left blank, Arix attempts to process the full balance. |
MPLId | ID of the MPL. |
IssuingBankId | ID of the issuing bank. |
IsFailed | Indicates if the loan transmission failed. |
LoanType | Type of loan. |
AmountFunded | Dollar amount funded. |
RailTransactionId | Unique identifier for a rail transaction. |
FundResult | Result of the funding. See Enums. |
Message | Message returned. |
ProcessedAt | Date the rail was processed. |
TransactionGroupId | Unique identifier of the transaction group. |
Rail cutoff times
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.
Rail type | Cutoff times |
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ACH | Cutoff is 16:00 EST. The Fed accepts submissions until 18:00 EST. |
ACH SD (Same Day) | Cutoff 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. |
Checks | Cutoff is 15:00 EST. |
Mastercard RPPS | Support for 3 MC RPPS processing cycles: Cut off is 20 minutes before a cycle start time. |
XPay | 24/7 (no cutoff times) |
RTP (Real Time Payment) | 24/7 (no cutoff times) |
ACH return cutoff times
ACH returns are received in batches, with the following cutoff times:
ACH returns |
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Updated 8 days ago