Early Release of ArbiterPay Upload of Funds

Upload of funds can be requested to be released early, and if approved by the ArbiterPay administrator (Accounting), the funds can be expedited. There is an early release fee of 0.5% of the amount uploaded or $20, whichever is greater. If an upload of funds is requested to be expedited, the funds will be released one day earlier. As an example, if the funds are scheduled to be released on Wednesday according to the transaction schedule, the funds will be released Tuesday (one day earlier).

The Upload Funds Transaction Schedule can be found here: https://www.refpay.com/contact.html

1. Go to www.arbiterpay.com
2. Click on the Contact tab across the top.
3. Click on Transaction Charts.

 

• Early release of funds can only be approved by the ArbiterPayTM administrator OAC and users will be assessed an early release fee of 0.5%.
• Any transactions returned because of incorrect routing number or account number will be assessed an ACH return fee.
• Any transactions returned because of non-sufficient funds will be assessed an NSF return fee.
• Maximum upload amount is $400,000 per transaction.

If you receive a call from a customer requesting for their funds to be released early:
 

1. Get the customer's ArbiterPay account number. Pull up the account and view the transactions.
2. Verify the amount requested to be uploaded with the customer.
3. Make sure the customer understands and agrees to the early release fee (0.5% of the amount uploaded or $20, whichever is greater).
4. Create a case in SalesForce. *Make sure you add the customer as the case contact!
5. Use the macro: Accounting :: Expedite Funds
6. The macro will assign the case to Rapid. Rapid Financial are the ones who perform this task and approve the early release.
7. Fill in the following information and send the email, which should send to the customer and to Rapid Accounting.

Name on Account of Admin/School:

Username of Admin/School:

Account# of Admin/School:

Transaction#:

Amount($) of Transaction:

Date of Transaction:

 

If you have any questions, please talk with your team lead.