Overview

The timeline for receiving a deposit from Affirm in your bank account after capturing a charge is similar to a credit card payment timeline. Since we work with multiple lending partners to originate our loans, they are the entities that disburse payments to your bank account. Our lending partners only send payment on business days when there’s a positive settlement balance.

Timeline

The process runs according to Coordinated Universal Time (UTC). In the timeline below, we've included Pacific Daylight Time as an example of how the schedule converts to a U.S. timezone.

1. At the beginning of a day, at time 00:00 UTC, we calculate the sum of all the previous day's charges (captures minus refunds) as the settlement total.
2. If your total settlement balance is positive, then at time 00:30 UTC, we mark the settlement payment for disbursement.
3. At time 21:30 UTC, our lending partners initiate an ACH transfer to your bank for the settlement amount.
4. On the following day, by 03:00 UTC, we generate and deliver to you the settlement report that contains all of the charge actions (capture, refund, disputed, etc.).
5. Within 1 to 3 business days of initiating the ACH payment, your bank will receive the ACH transfer by 21:30 UTC of that day.

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Note that the settlement date referenced in your merchant dashboard is the date that Cross River Bank initiated the ACH transfer to your bank account. This date won't necessarily match the date that you receive funds in your bank account.

Click here for information on changing your merchant bank account.

Business days

Our lending partners only sends payments on business days, Monday through Friday, except for the holidays noted below. All charges processed on Friday, Saturday, and Sunday are in the settlement payment disbursed on Monday. If Monday is a holiday, then charges processed on Friday, Saturday, Sunday, and Monday are in the settlement payment disbursed on Tuesday.

Holiday schedule

• The holiday falls on a weekend and is observed on the noted day.

Positive settlement balance

As mentioned above in the overall process, our lending partners send payment only if your total settlement balance is positive. If your previous day's charges totaled a net positive settlement but your overall balance is negative, due to a significant number refunds in the past, they will not send payment. Review the table below.

Example