Note: Payments may take 1-2 business days to process from the scheduled due date due to varying factors, such as parent's banking institution.
Card Processing Times
Card payments take approximately 2-4 days to move from "Pending" to "Complete" in the Banking tab. "Complete" means funds are available and settled into the account.
Bank (ACH) Processing Times
Bank payments take longer since they use the ACH system. Typically bank payments take 3-5 business days to reach your bank account. Because of bank processing times, we suggest scheduling payments at least a week before you need the money. Longer processing times for bank payments are to ensure the payer has the funds in their bank account and to reduce the risk of online payment fraud. This allows us to offer ACH payments to parents for free!
ACH Processing Reminders
- Banks only process ACH payments on weekdays (this excludes any bank holidays).
- If the transaction is initiated before 3 PM PT it will be submitted to the ACH network. If it's initiated after, the transaction won't be submitted until the next business day, which will be considered the first business day of payment processing.
Note: If a bank payment is scheduled to charge leading in to the weekend or during the holidays, there might be a longer lead time for processing.
Still have questions or need help? Please reach out to us directly at spend.support@onsnap.com or by phone at 276-531-9260. (ext. 6)
Snap! Spend is a financial technology company and is not a bank. Banking services provided by Thread Bank; Member FDIC. The Snap! Spend Visa Debit is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted.
Your deposits qualify for up to a maximum of $2,500,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity.
You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions on the sweep program.