This FAQ applies to Flourish Cash.
When withdrawing funds via Flourish.com, there are several key differences between ACH transfers and wire transfers:
Fee charged by Flourish? | Expected arrival/settlement* | Hold imposed by the receiving institution? | Can transfer be placed online? | Can transfer be made to a third-party? | |
ACH Transfer (default) |
No
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If placed before 3pm ET on any business day, funds are expected to arrive the same business day around 6pm ET. You can view the full transfer schedule here. Due to your bank’s processing timeline, funds may not be displayed to you until the end of its business day. |
Possibly. Your bank may or may not impose a hold of a few days, during which funds may be restricted. | You can deposit any amount online. You can place withdrawals for $1,000,000 or less online. For withdrawals greater than $1,000,000, please call us at (833) 808-5700. | No, we don't support outbound ACH transfers to third-party accounts or to unlinked bank accounts. |
Wire Transfer | Yes, $15 | If placed before 12pm ET on any business day, funds are expected to arrive on the same day around 3pm to 6pm ET. | Funds arrive as cleared cash; no hold is expected to be placed by your bank. |
No, wire transfer requests can only be made by calling us.
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No, we don't support outbound wire transfers to third-party accounts or to unlinked bank accounts. |
* For transfer requests submitted by the applicable deadline, funds will generally be transferred to or from the requested external account by the same or next business day, except for requests submitted on the weekend or on a holiday, which should be completed by the following business day. In some circumstances, transfers may take longer to complete, as further described in your Account Agreement. For withdrawal requests, fund availability is subject to the processing timeline of the receiving financial institution and may not be displayed or available until the end of the financial institution's business day.