Kredete's Procedures for Handling Transactions
Overview
This section outlines Kredete's procedures for handling transactions, including operational hours, processing times for ACH and wire transfers, and the typical duration for funds to be available in recipients' accounts.
Processing Schedule
- Operational Days: Kredete processes transactions on all business days when U.S. banks are operational.
- Non-Operational Days: Transactions are not processed on U.S. federal holidays or weekends.
Transaction Cut-off Times
ACH Transfers
- Submission Deadline: Transactions submitted by 1:00 PM Eastern Time (ET) are processed on the same business day.
- After Deadline: Submissions received post 1:00 PM ET are deferred to the next business day's processing cycle.
Wire Transfers
- Submission Deadline: Transactions submitted by 5:00 PM ET are processed on the same business day.
- After Deadline: Submissions received after 5:00 PM ET are scheduled for processing on the following business day.
Settlement Timeframes
ACH Transfers
- Processing Time: Once initiated, ACH transactions typically take 1-2 business days to be credited to the recipient's account.
Wire Transfers
- Processing Time: Wire transfers are generally completed within 60 minutes after initiation.
- Operational Window: Wires are processed between 10:00 AM and 4:45 PM ET, Monday through Friday.
- After Hours: Transactions initiated after 4:45 PM ET are processed on the next business day.
Stablecoin Transactions
Conversion to Fiat (USD)
ACH Transfers
- Batch Processing Time: Stablecoin to USD conversions submitted by 1:00 PM ET are included in the same day's ACH batch.
- After Deadline: Submissions after 1:00 PM ET are processed in the next business day's batch.
- Settlement Duration: Funds typically reach the recipient's account within 1-2 business days post-processing.
Wire Transfers
- Processing Time: Conversions are usually processed within 90 minutes after stablecoins are received in Kredete's designated wallet.
- Operational Window: Wire transfers are executed between 10:00 AM and 4:45 PM ET, Monday through Friday.
- After Hours: Transactions received after 4:45 PM ET are processed on the next business day.
- Settlement Duration: Funds are generally credited to the recipient's account within 60 minutes of processing, subject to the receiving bank's processing times.
Conversion from Fiat (USD)
- Processing Time: Upon receipt of USD in Kredete's bank account, stablecoin disbursements are typically initiated within 90 minutes.
- Note: Processing times may vary based on the receiving financial institution's operational procedures and any intermediary banks involved.