Transfers and deposits

This article aims to provide clarity on the various transfer methods available and associated fees to ensure you have a comprehensive understanding of how money moves within your financial account.

Transfer methods

1. ACH Transfers: ACH (Automated Clearing House) transfers allow you to electronically move funds between your Dappr Financial Account and external bank accounts. This secure and convenient method enables you to initiate both incoming and outgoing transfers. Incoming ACH transfers into your Dappr Financial Account are free of charge. However, please note that there may be fees associated with outgoing ACH transfers based on your specific Dappr Financial Account fee schedule.

2. Domestic Wire Transfers: For urgent or high-value transfers, domestic wire transfers provide a swift and reliable option. Dappr enables you to send outgoing domestic wire transfers to other banks within the United States. Please be aware that there is a fee associated with outgoing domestic wire transfers, as outlined in your Dappr Financial Account fee schedule. Incoming domestic wire transfers, on the other hand, do not incur any fees.

3. Intrabank transfers between Dappr Financial Accounts: Dappr’s system is built with intelligence to recognize when both the sender and recipient's accounts are Dappr Financial Account. In such cases, we automatically convert traditional ACH or Wire transfers into instant intrabank transfers. This not only speeds up the transaction process but also bypasses the fees normally charged for wire transfers.

4. Instant Deposits: Dappr offers the convenience of instant deposits from your sales balance to your Dappr Financial Account. This feature allows you to access your funds immediately for business expenses or other financial needs. Instant deposits may incur a fee of 1.5% of the transaction amount, which is applied to the deposited amount.

5. Check deposit (remote deposit capture): Deposit physical checks using Dappr's mobile app free of charge.

6. ATM cash withdrawal: You can use your Dappr Cash Card to withdraw cash at ATMs across the country. You can also withdraw cash abroad. Dappr's Visa cards are part of the PLUS ATM-network, which gives you access to thousands of zero-fee ATMs.

Wondering how to deposit cash? Learn more here.

Same Day ACH regulations

ACH transactions are regulated by NACHA. Consider the following when using Same Day ACH:

• Individual Same Day ACH transactions don’t exceed 1,000,000 USD.

• Payments made to a single entity for a single purpose (such as vendor payment) aren’t divided to exceed the 1,000,000 USD limit per transaction. If this happens, Dappr remits the funds exceeding the limit the following day.

• Payments to different parties for different purposes can exceed 1,000,000 USD if they’re divided across separate transactions.

Timeline for outgoing funds

Dappr Financial Account integrates with banking partners and payment networks which each have varying processing and cutoff times.

NETWORK	BEHAVIOR
ACH	Requests processed before the cutoff time are submitted to our banking partner on the same day. These transfers are expected to arrive at the receiving bank within the next one to two business days. Same Day ACH transactions arrive at the receiving bank the same business day if the request is received before the cutoff time.
Domestic wire transfer	Outbound payment requests processed before the cutoff are expected to arrive at the receiving bank on the same business day.

Cutoff times

• ACH cutoff: 6pm central time (CST/CDT)

• US Domestic wire cutoff: 3pm central time (CST/CDT)

SUBMISSION DATE	ARRIVAL DATE for ACH	ARRIVAL DATE for wire
Monday	Tuesday	Monday
Tuesday	Wednesday	Tuesday
Wednesday	Thursday	Wednesday
Thursday	Friday	Thursday
Friday	Monday	Friday
Saturday	Tuesday	Monday
Sunday	Tuesday	Monday

Requests that are received after the cutoff times are processed the following business day. Default speed requests that are received after the cutoff times are processed the following business day. Same Day ACH requests received after cut off time arrive the following business day by end of day.

Behavior of direct credit and direct debit

Credits and debits initiated from outside Dappr and received on a Dappr Financial Account are processed as soon as Dappr receives notification of the transfer. The time it takes to complete the transfer depends on the originating institution.

NETWORK	BEHAVIOR
ACH	Available same day or next business day depending on originating institution.
US Domestic Wire	Depends on originating institution.
Card	Card transaction are typically captured within 24 hours of authorization approval; however, some companies can capture funds for up to 30 days after authorization. See Issuing transactions.

Physical check deposit

Learn how to deposit checks into your Dappr Financial Account.

About check deposit

Dappr Financial Account offers check deposit functionality through remote deposit capture (RDC), enabling you as an account holder to deposit checks through the Dappr mobile app. Checks deposited through RDC move money directly into your Dappr Financial Account.

The general flow for check depositing via RDC is as follows:

1. Open the app and access check deposit from the Dappr Financial Account menu.

2. Enter the check amount as seen on the check. It is crucial that this amount is identical to the check's amount. Attempting to deposit more funds than the check is a crime. Violations will result in account cancelation.

3. Sign the back of the check.

4. Capture a photo of both the front and back.

5. Submit the check deposit request.

Tiers and limits

Remote deposit capture (RDC) requires risk controls over the amount, volume, and velocity of check deposits as a means to control exposure to credit and fraud loss. RDC has the potential to be a significant fraud vector, and we’ve designed the following default tiers and limits to mitigate fraud losses while still providing a good deposit experience.

The RDC program has four user tiers:

1. New User

2. Standard

3. Premium

4. Premium Plus

Every Dappr Financial Account holder is assigned to a default tier based on certain factors:

• Number of days the account has been processing on Dappr.

• Lifetime total volume for the Dappr Financial Account.

• RDC return rate (percent of check deposits that are returned)

  • Dappr treats Checking accounts with no prior RDC volume as having a 0% return rate, so they can be placed into higher tiers if they have sufficient Dappr tenure and volume.

Default Tiers

By default, financial accounts are placed in the lowest tier based on where they fall under the following three criteria:

CRITERIA	NEW USER	STANDARD	PREMIUM	PREMIUM PLUS
Days processing on Dappr Financial Account	n/a	more than 14 days	more than 45 days	more than 45 days
Lifetime total volume (inflow only)	n/a	More than 10,000 USD lifetime volume	More than 30,000 USD lifetime volume	More than 60,000 USD lifetime volume
RDC return rate	n/a	<5%	<2%	<2%

Note

Lifetime volume includes includes the sum of:

• Lifetime Account payment volume through the Dappr sales features

• Inflows to Dappr Financial Accounts (excluding Payouts from Dappr sales features)

Limits

Based on a financial account’s tier, they’re subject to the following limits:

CATEGORY	NEW USER	STANDARD	PREMIUM	PREMIUM PLUS
Small amount auto-approval	n/a	n/a	100 USD	100 USD
Check amount triggers standard review	100 USD	1,000 USD	1,500 USD	1,500 USD
Check amount triggers high risk review	250 USD	2,500 USD	5,000 USD	5,000 USD
Maximum single check amount	400 USD	3,000 USD	10,000 USD	25,000 USD
Maximum total daily deposit amount	500 USD	5,000 USD	20,000 USD	50,000 USD
Maximum daily number of checks	2	5	10	25
Maximum total weekly deposit amount	2,500 USD	20,000 USD	50,000 USD	150,000 USD
Maximum weekly number of checks	5	15	30	75
Maximum total monthly deposit amount	5,000 USD	40,000 USD	120,000 USD	400,000 USD
Maximum monthly number of checks	25	30	75	300

Funds availability and hold periods

The following default hold times are used for a check deposit based on check riskiness (these times start once the check is submitted to our banking partner for processing after Dappr's manual approval, and not when the check is uploaded for Dappr's manual review:

• Low risk: 2 business days

• Standard risk: 5 business days

• High risk: 10 business days

• Severe risk: Up to 20 business days. Learn more

Account holders should always take potential delays into account, and you should always assume that the deposit process can take longer than the regular limits posted above, particularly if you're depositing a check for the first time.

First-time deposits may trigger additional reviews and a longer holding period. Dappr and our partners may apply a longer holding period at our discretion, particularly if checks from the same sender have been returned in the past, or if Dappr and our partners have incurred losses previously from card or ACH disputes on your financial account or through payment processing using Dappr's invoicing features.

Depositing checks that exceed your limit

We realize that sometimes our users may receive checks from their customers for an amount higher than their current account tier limit allows, particularly in the first weeks and months that the company is in business.

In most cases, you will still be able to deposit the check through the app, but Dappr and our partner institution will conduct an enhanced review which can contribute to additional deposit delays. Our app will let you know that you can still deposit the check, but will ask you for additional information about the check issuer and the purpose of the check.

In some cases, the information that you have provided may not be sufficient for an approval, or the check may not be eligible for digital deposit. The hard limit for digital deposits is $25,000. In such cases, our team will contact you to request that the check be sent to us via certified mail.

To deposit a check that exceeds your Dappr Financial Account's limits, do as follows:

How to submit check for manual review

1. Endorse the check as you usually would by signing the back of the check.

2. Below your signature, but above the area reserved bank clerks, write "For mobile deposit at Evolve only".

3. Place the check in an envelope, send it via certified mail (USPS), and address it to: Dappr Technologies, Inc. 800 W El Camino Real, Suite 180 Mountain View, CA 94040

4. Our team will receive the check and conduct a manual review within 3 business days. If the check is rejected during our review, it will be returned to you via mail with a written notice explaining the rejection.

5. If the check is approved, it will be submitted to our partner institution for final deposit. Dappr will not provide any update when the check is approved by us during our manual review, but you are welcome to reach out to our team to confirm its' status along the way.

6. If the check clears, the funds will be deposited to your Dappr Financial Account within 20 business days.

This entire process can take 15-45 days, depending on several factors, including USPS delivery delays, check verification issues, and bank processing delays. Deposits exceeding account limits are considered severe risk and are subject to fees.

How to confirm your current limit

You can access your current deposit limit without validating your account through the criteria above by navigating to check deposit in the Dappr mobile app. On step 1, where you are asked to enter the check amount, the deposit limit for the current check will appear.

Cash withdrawal

With your Dappr Cash Card, you have access to over 9,000 ATMs across the country and thousands more abroad, many of which have zero-fees! To find an eligible ATM, use Visa's official Global ATM Locator. If you want to avoid paying additional fees on your withdrawal, add the filter option "No ATM Access Fee (Domestic Withdrawal)".

Click here to locate an ATM for cash withdrawal

Cash withdrawal limit

There is a fixed daily cash withdrawal limit of $300 or the equivalent amount in foreign currency, not including any additional fees charged by the ATM provider (if applicable). This limit is fixed: It currently cannot be adjusted.

Change PIN-code (PIN management)

To withdraw cash at ATMs, you will need to enter your card's PIN number. You can set the PIN in the desktop web app by going to Financial Account > Manage cards and clicking on the three-dot button next to the card's status-indicator, as seen below.

Depositing cash

If you're running a cash-based business, or even if you just occasionally need to deposit cash to your Dappr Financial Account, we have good and bad news.

Let's start with the bad news: Dappr doesn't currently support manual cash deposits. In other words, you can't walk into a bank branch or other location to deposit cash with a bank teller. Also, while you can withdraw cash at ATMs, you cannot deposit cash at those same ATMs.

Now for the good news: We have a workaround, and it is essentially as convenient as regular bank teller deposits, with an additional step or two.

Steps for depositing cash

We have tried to build the best possible workaround until our banking partners find new ways of depositing cash in a retail store or with a physical bank branch. This process involves visiting a retail store that issues money orders, purchasing a money order, and depositing it to your Dappr Financial Account using mobile physical check deposit.

Follow these steps:

1. Confirm your current check deposit limit by opening the Dappr mobile app, scrolling to your Dappr Financial Account balance, tapping the "Deposit" button, selecting "Check deposit", and viewing the current maximum deposit amount as seen below.

1. Visit a store that issues money orders, such as Western Union locations in the United States.

Click here to view Western Union locations. Add the money order filter as seen below.

How to filter Western Union locations that offer Money Orders

1. Purchase a money order of NO MORE THAN YOUR CURRENT CHECK DEPOSIT LIMIT. If you need to deposit more than your limit, purchase multiple money orders and deposit them as your limit allows. Make sure to set your own company as the money order recipient.

2. Open your Dappr mobile app, scroll to your Dappr Financial Account balance, tap "Deposit", select "Check deposit", enter the money order amount, and follow the remaining instructions to complete the deposit.

Transfers Between Dappr Financial Accounts

We offer seamless and immediate fund transfers between Dappr Financial Account. This innovative feature is designed to streamline your transactions, eliminating the wait and fees typically associated with ACH or Wire transfers. Here's everything you need to know about making the most of instant fund transfers within the Dappr ecosystem.

Dappr’s system is built with intelligence to recognize when both the sender and recipient's accounts are Dappr Financial Accounts. In such cases, we automatically convert traditional ACH or Wire transfers into instant intrabank transfers. This not only speeds up the transaction process but also bypasses the fees normally charged for wire transfers.

Key Benefits

• Zero Wire Transfer Fees: Forget about the standard $15 wire transfer fee. When you transfer funds to another Dappr Financial Account, the process is free.

• Speed of Transaction: The funds are transferred instantly, ensuring your money is received in seconds.

• Confirmation of Transfer: Senders are promptly informed when their payment successfully reaches another Dappr Financial Account, adding an extra layer of transparency.

Important Considerations

A shared routing number does not necessarily mean the recipient's account is with Dappr. Our routing number is also used by other neobanks associated with Evolve Bank & Trust. The instant, fee-free transfer feature is a privilege enjoyed exclusively by Dappr Financial Account holders.

How Instant Transfers Work

1. Start the Transfer: Simply initiate an ACH or Wire transfer as usual, inputting the recipient’s account details.

2. System Detection: Our backend automatically detects if the recipient has a Dappr Financial Account.

3. Conversion to Intrabank Transfer: The transfer is seamlessly converted, eliminating the wire fee and expediting the process.

4. Receive Confirmation: A confirmation message is displayed once the transfer is completed, ensuring you are fully informed.

Time zone considerations

All bank transactions are processed by our partner institution, Evolve Bank. All actions are based on the bank's local time zone: US Central Time (CST, and CDT during summer time). Scheduled transfers will be initiated using the same time zone.

Note that spending limits time zone on Dappr Cash cards are handled differently.

Questions?

Don't hesitate to contact our team via chat or call us at [phone].

Dappr is a technology company and not a bank. Money transmission services and account services are provided by Stripe Payments Company with funds held at Fifth Third Bank N.A. and Evolve Bank & Trust, Members FDIC. Dappr Cash Card Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. There are no fees or minimums associated with the day-to-day use of Dappr Financial Accounts and Dappr Cash Cards, provided that certain criteria are fulfilled. You may incur one-time fees for some banking services, including Non-Sufficient Funds (NSF) fees and Wire transfer fees. Users are made aware of these fees prior to submitting a payment. Accountholders can deposit checks using Dappr's mobile app. These services are subject to deposit limits. Additional terms apply. Dappr Financial Accounts are eligible for FDIC pass-through deposit insurance if they meet certain requirements. The accounts are eligible only to the extent passthrough insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied. The FDIC insurance applies up to 250,000 USD per depositor, per financial institution, for deposits held in the same ownership capacity.