Direct connection to the Fed
Cross River developed its own proprietary technology to enable direct access to the Federal Reserve Bank in support of its ACH activity as an ODFI (Originating Depository Financial Institution) and Fed member bank.
Instant transaction data via API
Real-time notifications, ACH request status updates, webhooks, and event streams of transaction clearance or settlement preempt the need for additional layers of technology. Use sub-ledgers with unique, fully routable account numbers to achieve an enhanced level of granularity for your customers.
Settlement window options
ACH API calls at Cross River allow partners to explore options. Select same day, standard, or an extended settlement window for fund transfers.
Push and pull
Embed ACH payment options into existing payment infrastructure, through Cross River’s API-first banking core, COS, to enable ACH credit payments (push) and ACH debit payments (pull) for customers.
Via customized webhooks, ensure independent and expedited query resolution, enhanced accuracy of errors, and efficient resolutions for returns. ACH offers seamless end-to-end fund settlement and minimizes error responses from the Federal Reserve network.
Decrease service charges and eliminate ad valorem fees to get complete management of debit or credit entry requests.
Engineered for success
Originate transactions via API, instead of files, providing easy integration with third-party risk and compliance API vendors. With Cross River’s infrastructure there is no need to parse transactions from files, reducing engineering hours spent on maintenance.
Wallet funding and disbursements
The combined capabilities of our companies create immediate market value as modern banking products enhance the speed and lower the costs of commerce, allowing businesses to scale as necessary.
How long does a standard ACH take? A standard ACH payment may take 1 to 3 business days before posting to the receiver's account. Why would an ACH payment get returned? There are various reasons why an ACH payment might be returned by an RDFI (Receiving Depository Financial Institution). Some common explanations include insufficient funds and invalid account numbers. Please reach out to your account representative to understand your specific case. What is an NOC? NOC stands for Notification of Change and is an indication of corrected information related to a previous outbound ACH payment. How long does an IAT (International ACH Transaction) take? Cross River can support with the domestic routing for IATs at this time. The IAT should settle on the settlement date unless the RDFI is holding the transactions for OFAC review purposes. What SEC code should be used? SEC codes are determined during the onboarding process and indicated within your executed agreement with the CRB. Please contact your relationship manager for additional information regarding permitted SEC codes. If I originate an ACH payment and the receiver's account is within COS, will COS automatically convert my request into an internal transfer? No, COS will treat this as an ACH payment which will be forwarded to the Fed. Are OFAC scans performed on ACH payments? COS scans all inbound and outbound IAT (International ACH) payments. Any OFAC holds resulting from the scanning process must be reviewed by CRB’s BSA/AML team. Why would an ACH payment get returned? There are various reasons why an ACH payment might be returned by an RDFI (Receiving Depository Financial Institution). Some common explanations include insufficient funds and invalid account numbers. Please reach out to your account representative to understand your specific case or take a look at your return code. Does COS support file-based ACH origination? While COS can create a batch from either a standard NACHA file or JSON file we encourage the use of the APIs Why use old file-based processes when you can move your payments technology forward? Files can be used in conjunction with APIs and webhooks. JSON/HTTPS is more reliable than FTP.
 Acceptance/rejection is based on standard technical/business validations, regulatory requirements, and specified internal controls.
 Subject to the time of origination and the recipient bank's funds-availability policy.