Wires and ACHs can be canceled up until they are processed and sent to the receiving account. This cut off time happens differently based on the payment method, and as such there are different timelines based on the method of payment.
When canceling a payment, time is of the essence, as we are unable to cancel, or call back a wire or ACH once it has been processed. If you have concerns about a payment in any way, we recommend canceling it first, before reaching out to our support team to ask questions concerning the payment
ACH Payments:
ACH transfers are processed daily at 3:00pm ET every business day.
In order to cancel an ACH payment, please reach out to the Wayflyer support team via [email protected] with the specific details of the payment you wish to cancel. We cannot guarantee a cancelation for an ACH payment if the request is submitted close to the processing time, but we will make every effort to cancel the payment before it is processed.
Wire Payments:
Wire payments are processed every hour on the hour from 9:00am ET until 5:00pm ET. There is one final processing time at 5:40pm ET.
In order to cancel a wire payment, please reach out to the Wayflyer support team via [email protected] with the specific details of the payment you wish to cancel. We cannot guarantee a cancelation for a wire payment due to the frequency and immediacy of processing times throughout the business day, but we will make every effort to cancel the payment before it is processed.
Internal Transfer:
Payment transfers internally between your Wayflyer accounts happen immediately, and as such they cannot be canceled. If you need to reverse an internal transfer you will need to create a new transfer to return the funds from the receiving account to the account which sent the funds.
For support questions for the Wayflyer Banking product, please do not hesitate to reach out to [email protected].
Wayflyer is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Wayflyer Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact [email protected] with questions on the sweep program. Pass-through insurance coverage is subject to conditions.