Once you've been approved and signed your funding agreement, your funds will be transferred to your business bank account within 1-3 business days. There are many potential causes for delays in the receipt of your funding, and this article will outline the potential reasons for delays, and how you can prepare to receive your funding as soon as possible
When exactly will the funds arrive in my account?
Standard timeline: 1-3 business days:
Once your contract is signed and your funding is marked for deployment, funds are transferred via wire or ACH and arrive in your designated bank account within 1-3 business days.
Next business day arrival:
In many cases, if your funding is deployed early in the day, you may receive funds as soon as the next business day. This does require the contract is signed early enough in the day to be sent to our billing team for processing that day. For North American customers, any contract signed after 12:00 pm ET (9:00 am PT) will not be reviewed until the following business day.
Deployment date confirmation:
Your funding agreement includes an expected deployment date. This is the date Wayflyer plans to initiate the transfer to your bank, normally it is the same day the contract is sent out, but it can have a later date in the contract (usually when this is requested manually during deal negotiations). Because this date is often the date the contract is sent, the actual deployment date may be the day of, or following, contract signing.
If you have concerns about the deployment date in your contract, contact your account representative immediately to ask for an update.
What if my funds haven't arrived?
If your funds have not arrived yet, first check your account to ensure the funds are marked as deployed. If your funds are yet to be deployed you will see a message stating “Congratulations! Your funds are on the way.” with the date listed they are intended to be deployed. If your funds have been deployed by Wayflyer you will see a new active advance in this same tab with a recent deployment date. There are different troubleshooting steps for each scenario, which are outlined below.
Funds have not been deployed yet:
If your funds have not been deployed yet, but you expect them to have been deployed, there could be a couple reasons for the delay:
The contract was just signed, and our billing team will not be able to deploy the funds until the next business day. In this case there is nothing to do other than wait for the next business day.
The contract was signed before a weekend, or a holiday, where the offices of Wayflyer are closed, and the disbursement is scheduled for the next business day. In this case there is nothing to do other than wait for the next business day.
The contract had a later date for deployment set, which is listed in your Wayflyer account for the deployment date. If you would like to modify this, reach out to your account representative, or the customer support team to request an updated date.
If the funds have not been deployed yet, and the date listed in your account is in the past there is likely an open request for more information before we are able to disperse your funds, or there is a technical issue causing the delay. In this case reach out to your account representative or customer support at [email protected] immediately so we can help get those funds disbursed.
Funds have been deployed, and you have not received them yet:
If Wayflyer has marked your funds as deployed and you have not received them yet, the most common causes of delays here are as follows:
It has not yet been 1-3 business days. There are various delays when sending funds to a bank account, including delays with the ACH network (for American accounts) or recipient banks holding funds for a day before dispersing them into the recipient account. Please allow 3 business days for the funds to arrive before escalating.
Your bank rejected the payment. This can occur if your bank has a process for rejecting new payments from unverified external parties. In this case you will need to reach out to your bank to approve the recipient bank information for external transactions. Please reach out to your representative with Wayflyer, or the support team to verify wire/ACH information.
The transfer was sent to a different bank than the one you are expecting. We always transfer to the bank in the contract, but for customers with multiple bank accounts connected with Wayflyer, this can sometimes be a different bank than assumed. Always check your contract to ensure it is the correct bank for the transfer before signing the contract.