Speed of Incoming Transactions and Outgoing Payments
Built on a budget, using free services wherever possible, the underlying structure uses traditional banking services that are robust and automated. Although these old-school methods are tried and true, the service does come with a slight delay in transaction speed.
Incoming Contributions can take anywhere from zero to six days depending on the source, the day of the week and holiday delays. For example, a Zelle transaction that comes in after 5pm on Friday won’t clear the bank until Tuesday (Wednesday on holidays). Once cleared the bank, HGOL reconciles transactions into the accounts three or four times weekly; minimally on Tuesdays (after transactions clear the bank) and Fridays (before the heavy weekend volume).
Distributing funds takes 3 to 5 business days since CHASE bill pay service issues paper checks thru the mail. This is a free service and CHASE even pays the postage! Other forms of payment may come later once HGOL is self-supporting through Tradition 8 and voluntary contributions.
Transaction Verification
If you want to test a transaction for a new account or inquire about a recent contribution, email Homegroup.Online a payment verification request and include the transaction details (contributor name, email, date, amount, transaction number, and payment source (Venmo, ApplePay, etc.)). Homegroup.Online can typically confirm a transaction within 24 hours.