Disbursement Lifecycle
Disbursement Status Lifecycle
A Disbursement’s status represents a workflow lifecycle.
It tracks whether a Disbursement has been approved or canceled by your organization based on your organization’s configured approval rules. Additionally, it tracks if the Disbursement has been verified by the Chariot team.
Once a Disbursement’s status is submitted, a request will be made to the preferred payment rail to initiate the payment.
A Disbursement with a submitted status will have at least one item in the transfers array.
Once a Disbursement is submitted, it can no longer be canceled. Instead, depending on the payment rail the disbursement may be able to be stopped.
Payment Rail Lifecycle
Once a Disbursement is submitted, a payment is initiated through a specific payment rail. Each payment rail follows its own distinct payment lifecycle.
In-Network Payments
Payments sent from one Chariot Deposit Account to another Chariot Deposit Account can be made 24 hours a day, 7 days a week and, once approved, will settle instantly.
ACH
ACH transfer represents a credit (push) payment using the Automated Clearing House (ACH) network. This transfer method is used if the receiving organization is not available for In-Network Account Transfers. Funds availability is typically 1-2 days.
Mailed Check
A check transfer represents a physical check that is mailed to the receiving organization. This is the transfer method used when the receiving organization does not have a Chariot account.
