Modern Treasury can support:
- ACH credit
- ACH debit
- Check printing
- Check receipt (via lockbox)
- Wire transfers
- SEN (Silvergate only)
- SIGNET (Signature only)
- ProvX (BankProv only)
- RTP (JPMC only)
- SEPA (Santander, BofA only)
- BACS (BofA, Santander, HSBC only)
Each payment rail has a unique set of specifications, requirements, and limitations. It’s best to choose a payment method that aligns to your intended use case and payment flow.
Below are a few key features that differ across payment rails.
|
ACH |
Check/Lockbox |
Wire |
SEN |
RTP |
|
|
Direction |
Credit & debit |
Credit & debit (lockbox) |
Credit |
Credit |
Credit |
|
Days to settlement |
1-2 business days |
3-7 days |
High priority: 10 minutes Low priority: 2 hours |
Real-time |
Real-time |
|
Reversibility |
Yes |
Yes (stop check) |
Limited |
No |
No |
|
Transaction limits |
$1,000,000 for same-day |
N/A |
N/A |
N/A |
$1,000,000 |
|
Cost |
Lowest |
Lowest? |
Highest |
Higher |