This release includes a new status field on the Firm object and new webhooks. There is one breaking change.
New Firm Status Field
We have introduced a new field on the Firm object called firm.status. This field provides your team with visibility into each firm's current state as they progress through our application and onboarding process. These are the possible statuses:
- CREATED
- APP_IN_DRAFT
- APP_SUBMITTED
- APP_IN_REVIEW
- ACTIVE
- INACTIVE
Webhook Updates
New webhook for firm updates
As a compliment to the firm.status field mentioned above, we added a firm.updated webhook that will be sent to your configured endpoint each time the status changes. Additionally, we will send this webhook when changes are made to firm settings.
New webhook for ACH returns
ACH returns will now trigger a transaction.ach_returned webhook. An ACH return occurs when the payer's bank declines to process the payment to the firm, and it can happen for a variety of reasons.
Sign in to the Partner Portal and opt in to these new webhooks.
Update to Fast Transfers Cut-Off Time
The cut-off time for Fast Transfers was extended to 2 p.m. CT. This was originally set at 12:30 p.m. CT. More bank transfers will now be eligible for same-day deposits! We have updated our deposit reports to reflect this change, effective 2/15/2024.
Fixes
- We updated our infrastructure to speed up our sign-in pages.
Breaking Changes
- The firm.application field was removed following the release of our onboarding.js feature.
Sales Insight: Reframe the ACH conversation and handle pricing objections
The question often arises: How do you sell ACH when it's readily available through banks or third-party processors for free or at low cost? Contrary to common belief, ACH, as we have built it, is not a commodity. In this video, we discuss how we market and sell ACH, or what we term our Fast Transfers platform.
Don't have API access yet?
