Payouts and money
Bank transfer
A payout delivered to a bank account, either domestically through a local clearing system such as ACH or internationally by wire. Wires are faster to arrive and usually carry higher fees.
Also called: ACH · Bank wire
GFN’s figure
ACH bank transfer and international bank wire are two of the three ways to receive a GFN payout through Rise (Riseworks). The receiving account must belong to the verified GFN account holder.
In detail
Bank transfer,explained
Domestic rails are cheaper and settle in business days; international wires cross correspondent banks, so they can carry intermediary fees and a currency conversion that neither the firm nor the trader controls.
Bank details must match the verified account holder. A mismatch between the trading account name and the receiving account name stops a payout at the compliance stage rather than at the bank.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Payout method
How a firm actually sends the money: bank transfer, wire, or a payments provider that offers several rails. The method determines the paperwork, the fees and how long the transfer takes.
Rise payout
A payout processed through Rise (Riseworks), a payments platform used to pay contractors internationally. The trader signs a short contract in Rise, then chooses how the money is delivered.
Crypto payout
A payout delivered in cryptocurrency rather than to a bank account. It settles independently of banking hours and is common among firms paying traders in markets where international wires are slow.
Payout processing time
The gap between requesting a payout and the money arriving. It covers the firm's review, any identity checks, the payment provider's own processing and finally the settlement time of the chosen rail.
KYC
The process of confirming who owns an account, using identity documents and supporting information. It is required before money moves, and it is the most common cause of a delayed first payout.
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