Cutoff Times
Certain types of wire, ACH, and bill pay transfers must be created and scheduled by a certain time of day, or cutoff time, in order to be processed in a timely manner. If the transfer is not scheduled by the cutoff time, it will not be processed by the system in the next batch of transfers.
For example, a financial institution (FI) may require all Bill Pay requests to be created by the cutoff time of 3PM in order to be processed that day. A Bill Pay request scheduled at 3:20PM will not be processed that day as it was scheduled after the 3PM cutoff time.
Every FI will have its own cutoff times that may differ between various types of transfers. Apiture provides an API to retrieve the cutoff time from a specific FI.
For more information on transfers, see the transfers article.
Types of Transfers
There are several types of transfers that can have cutoff times. For cutoff times, some types of transfers are distinguished by their urgency rather than the method of transfer, such as a normal ACH transfer vs a Same Day ACH transfer. All types are represented by the cutoffTimeType enum.
Not all FIs offer all transfer types. Only the types of transfers the banks offer are included when gathering cutoff times.
The list of cutoffTimeType, with notes on cutoff time if needed, is available below.
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ACH. There may be up to 5 cutoff times for ACH originated batches. More than one ACH job time can optionally be provided, improving the odds that a batch can be processed that day. |
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Same Day ACH. There may be no more than 2 cutoff times for Same Day ACH |
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Domestic Wire Transfer |
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International Wire Transfer. Current day transfers are transferred immediately. |
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Internal Account Transfer. |
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External Account Transfer. These are usually processed at a different time than internal transfers. |
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Bill Pay |
Getting Cutoff Times
Cutoff times can be returned in a list of cutoffTime objects. To get a list of cutoff times, use the cutoffTimes function.
The list of cutoff times includes the timeZoneId which labels the timezone of the FI according to the IANA Time Zone Database.
A cutoff times list is given below for reference. Note that there are multiple times for ach as the transfer batches are processed more than once a day, and that there is a separate sameDayAch time.
{ "timeZoneId": "America/New_York",
"items": [
{
"type": "ach",
"time": "13:45"
},
{
"type": "ach",
"time": "16:45"
},
{
"type": "sameDayAch",
"time": "16:45"
},
{
"type": "domesticWireTransfer",
"time": "16:45"
}]}