An ACH transfer takes between 1-3 business days(excluding weekends and Federal Holidays).
In most cases you should see the transfer within the day. However, if this is the first time you are transferring money out of your Real Wallet account into an external account it might take longer. A delay can also occur if the amount is larger than what you normally transfer. This can be due to a new "relationship" being recognized between Thread Bank and your personal bank.
If you are not seeing your ACH transfer from your Real wallet to an outside account and it has been over 3 business days (Monday-Friday and excluding holidays) please contact the Wallet support team.
Your ACH was returned
There are a variety of reasons that an ACH can get returned.
- Incorrect account information
- Insufficient funds
- No account located
- Name mismatch
A name mismatch return is the most common one agents experience. When the recipient's name on the ACH transaction data doesn't match the name on their account at the receiving financial institution, it's called a name mismatch. This discrepancy can cause the ACH transaction to be rejected or returned, as financial institutions are required to verify the accuracy of the recipient's information.
When submitting a bill payment it's important that the bill/payment info be in your name. We see returns on mortgage payments and car payments for this reason. We understand these are time sensitive payments.
If you are commonly making bill payments where the bill/invoice is not in your name consider adding that person as an Authorized user to your account. Keep in mind that the primary account holder remains responsible for activity on the account while it is active.
If you have an LLC we will want to make sure it is added to your "Doing Business As" area of your account.
If further assistance is needed, please reach out to wallet@therealbrokerage.com.
The Real Brokerage is a real estate technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC Insurance available for funds on deposit through Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Real Wallet 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 Thread Bank places them at program banks in its 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 customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions.