ACH Debit transaction timings

ACH debit transactions are processed on the charge date.

In LotusPay, pending ACH debit transactions are submitted to the banking system on the charge date. NB: If the mandate has been cancelled, or mandate cancellation has been requested, all its pending debits are instantly cancelled and will not be submitted.

ACH debit creation deadline is 5:30 AM for sponsor banks on the charge date. This is not flexible.

Pending debits can be cancelled up to the cutoff time of 5:30 AM for sponsor banks on the charge date. This is not flexible.

Subscription-linked ACH debits are automatically created by us at 5:30 AM on the day of charge date.

Submission

At 5:30 AM on the charge date, we automatically submit all pending ACH debits for the day to the sponsor bank. Nothing can be submitted after this time.

Sponsor banks consume our inputs and submit them to NPCI during the morning of the charge date. Some may take a few hours to do this. Although NPCI offers multiple presentation cycles to sponsor banks, sponsor banks generally don't give such visibility to service providers and creditors.

Acknowledgement

If we receive these acknowledgements from your sponsor bank, we consume them automatically and mark the NPCI rejected transactions as status rejected. This usually happens around midday.

Response

After clearing, we consume the responses shared by the sponsor bank. We process responses automatically every 15 minutes on the clock, 24x7 (i.e. 08:00, 08:15, 08:30 etc.). The time and frequency of responses depends on the sponsor bank: Some sponsor banks send responses for all cycles, whereas others send only the Final Cycle (FC) responses. FC response batch includes responses from earlier cycles.

We have specific arrangements with each integrated sponsor bank:

• Axis Bank: Sends FC responses only, usually by 9pm.

• HDFC Bank: Sends FC responses only

• ICIC Bank: Sends FC responses only, usually by 9pm.

• IDFC FIRST Bank: Sends all cycle responses throughout the day. Final Cycle responses are sent between 9pm and 3am.

• Kotak Mahindra Bank: Sends all cycle responses throughout the day. Final cycle responses are sent by 10pm.

• Yes Bank: Sends all cycle responses throughout the day.