How do transfers work?

Last updated: December 11, 2024

Transfers occur between a source (where funds originate) and a destination (recipient of funds). The diagram below shows how funds flow from a source to destination on Moov’s platform.

transfer-diagram-light.png

Every Moov account will have associated payment methods. Payment methods can include:

  • A Moov wallet

  • Bank accounts

  • Cards

Moov supports the following payment rails:

  • ACH

  • Card acquiring

  • Instant payments (RTP, push & pull from card)

The payment method and rail used for each transfer will determine the speed at which the transfer settles. The image below shows a same-day ACH timeline based on a 4:15pm cutoff window.

bank-to-bank-same-day-light.png