How Often Are Funds Deposited to the Bank?

Funds are deposited from Tithely into your bank account every week on Wednesday unless you request differently. In this article, we will discuss details you need to be aware of. If you are not receiving funds into your bank account it may be due to your account not being fully verified. Below you will learn more about getting your account fully verified to receive deposits.

First, be sure you're familiar with our full deposit reporting. See Viewing Your Bank Deposit Reports.

Next, know that there are differences between credit/debit and bank account / ACH transactions.

Before We Can Deposit Funds, Watch This Short Video!

Our team needs to verify your account prior to enabling funds to be deposited. 

#1 - Credit/Debit Transactions

Credit and debit card transactions will be deposited with a two (2) day lag. Meaning, funds raised today will hit your bank account no sooner than two (2) business days from now.

#2 - ACH/eCheck/Bank Account Transactions

ACH/eCheck/Bank Account transactions can take up to ten (10) business days. Meaning, funds raised that come from ACH/eCheck/Bank Account will hit your bank account up to ten (10) business days from now. This longer processing time is due to the way that these transactions are processed. ACH accounts are transferred from one banking institution to another with no third-party organization covering the transaction (which is the case for VISA, MasterCard, AMEX (etc.)). Due to this process, transactions of this type will take a few more business days to fully process and deposit. 

Daily.png

Note: The above image is when deposits are set to daily. By default, deposits are set to Wednesday.

Important Notes

  1. The very first transaction through Tithely will take ten (10) business days to be deposited into your bank account. This is part of our security and vetting process. This initial 10-day delay only happens once.

  2. Japan accounts will not be able to set up daily deposits

Account Verification

An initial conversation with our team is required to get your account enabled for deposits. Once setting up the account, please be on the lookout for contact from our Sales Team to set up that conversation.

Funds will be held if, for some reason, you do not provide all required/requested information for us to verify that you are a legitimate organization.  

Our support staff will handle any delays in deposits immediately once you reach out. 

Deposit Schedules

By default, your deposits are set to deposit on Wednesday. This means that all transactions available to be deposited will deposit on the closest Wednesday.

Scheduled.png

Note: Transactions may take longer to deposit when set on a schedule. This is due to waiting for the next available scheduled deposits day before depositing funds.

If no schedule is set, your funds will be deposited weekly on Wednesdays. You do have the option to set a schedule of weekly (Monday-Friday), monthly (once per month), or daily (not supported in Japan). With these deposit schedules, we will combine all transactions during the timeframe to deposit into the church's bank account together. 

To make this change, follow the steps outlined in Updating Your Deposit Schedule and Statement Descriptor Settings.

Please note it takes two (2) days for a schedule change to take hold. For example, if today is Sunday and you change your schedule from weekly on Wednesday to Monday, your next deposit will happen on the following Monday not tomorrow.

Deposits and Holidays

When a bank holiday occurs during the week this will affect your deposit timing by that amount of days when set to daily deposit.
Holiday Shcedule.png

In the example above there is a holiday on Monday that pushes the expected deposit day by one day regardless of payment method.

For weekly deposit schedules be aware that if a holiday lands on any day of the week it will effect your deposit. If your weekly deposit is on a Wednesday and a holiday is on a Monday your deposit will be skipped for that week and resume the following week.

Was this article helpful?
0 out of 0 found this helpful