To send funds from your NorthOne Account to an American bank account, you can do so using a domestic ACH payment or a domestic wire transfer.
Here’s some key information about both types:
Payment Type | Fee | Timeline | Limit |
Standard Domestic ACH Payments | No extra fee (included as part of the $10.00 a month NorthOne Monthly Account Fee) | The cut-off time for scheduling Standard ACH transfers is 3:30 PM EST. Any transfer scheduled after the cut-off time will be treated as if it were scheduled on the next business day.
ACH transfers take 1-3 business days to process. | In combination with same-day Domestic ACH transfers. Maximum $300,000 per calendar month. |
Same-day Domestic ACH Payments | 1.5% of the transaction (minimum fee $1, maximum fee $15) | The cut-off time for scheduling same-day ACH transfers is 3 PM EST. Any transfer scheduled after the cut-off time, or on weekends or holidays, will be treated as if it were scheduled on the next business day.
Same-day ACH transfers will process same-day if received before 3 PM EST. | In combination with Standard Domestic ACH transfers.
No limit to the number of transactions per day, up to $10,000 per day.
Maximum $300,000 per calendar month. |
Domestic Wire* Transfers | $20 | Outgoing wire transfer requests received before 3:30 PM EST will be processed the same business day (if funds are available and verification has been completed). | No limit to the number of wires sent per day. Maximum of $200,000 per wire, per calendar day. Maximum $6,000,000 per rolling 30-day period. |
*Your NorthOne Mastercard® Small Business Debit Card must first be activated in order to send a domestic wire transfer. NorthOne does not facilitate international wire transfers.
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NorthOne is a financial technology company, and not a bank. Banking services are provided by The Bancorp Bank; N.A., Member FDIC.
The NorthOne Mastercard® Small Business Debit card is issued by The Bancorp Bank, pursuant to license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
For more information, please see our Deposit Account Agreement.