ACH Transfers
What to expect when paying via ACH bank transfer
ACH (Automated Clearing House) is the most common way to pay for investments. Money is transferred directly from your linked bank account.
How ACH Works
Confirm your investment
During the investment flow, select your linked bank account as your funding source.
Transfer is initiated
Shortly after you confirm, Play Money sends a request to pull the funds from your bank account. You do not need to do anything.
Bank processes the transfer
The ACH network transfers the funds from your bank to the SPV's bank account. This typically takes 1-3 business days.
Payment is received
Once the funds arrive, your investment status updates to reflect the completed payment.
Investment is funded
Your investment moves to "Funded" status. You are officially an investor in the company.
The entire process is automatic. After you confirm your investment, there are no additional steps required from you.
Processing Time
ACH transfers typically take 1 to 3 business days to complete. The exact timing depends on your bank and when the transfer is initiated:
- Transfers initiated on business days are generally faster
- Transfers initiated on weekends or holidays begin processing on the next business day
- Some banks process ACH faster than others
During this time, your investment will show a "Payment Processing" status. This is normal and means your payment is in transit.
What You Will See
As your ACH payment progresses, your investment status will update:
| Phase | What it means |
|---|---|
| Payment Processing | Your payment has been initiated and is being transferred. Typically 1-3 business days |
| Payment Received | The funds have arrived. Your timeline will show a "Payment received" event |
| Funded | Your investment is fully funded. You are officially an investor |
Common Questions
Will I see the charge on my bank statement? Yes. The ACH debit will appear on your bank statement. The description will typically reference the SPV or the platform name.
Can I cancel an ACH transfer after it starts? Once the ACH transfer has been initiated, it cannot be reversed through the platform. If you need to stop a payment, contact your bank directly as soon as possible. Note that cancelling a payment may affect your investment status — contact our support team as well.
What if my bank blocks the transfer? Some banks may flag an ACH debit as unusual and block it. If this happens, your payment will fail and the platform will notify you. You may need to contact your bank to authorize the transfer, then the platform will retry. See Payment Issues.
Can I use a savings account for ACH? Yes. Both checking and savings accounts can be used. However, some savings accounts have transfer limits — check with your bank.
I see "Payment Processing" but it has been several days. Is something wrong? ACH transfers can take up to 3 business days (and sometimes slightly longer during bank holidays). If your payment has been processing for more than 4 business days, contact support so we can investigate.
Last updated 2 weeks ago
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