Transaction Types

There are three types of transactions you can initiate with iPAS:

Note: Any of these transactions may be configured by your administrator to be or not be allowed. See your iPAS Administrator for more information.

You are allowed to request an unlimited number of transactions each business day, some of which can be processed on the same business day.

FedWire ("Wire") transactions submitted through iPAS prior to 9:00 am on a given business day will be processed in Q2 on the same business day.
FedWire ("Wire") transactions submitted through iPAS after 9:00 am on a given business day will be processed in Q2 on the next business day.
Automated Clearing House ("ACH") transactions submitted through iPAS prior to 9:00 am on a given business day will be processed in Q2 on the next business day.
Automated Clearing House ("ACH") transactions submitted through iPAS after 9:00 am on a given business day will be processed in Q2 in two business days.

Note: These business rules are all configurable. See your iPAS Administrator for more information.

iPAS prohibits Withdrawal and Interfund Transfer transactions that would result in an overdraft position for the participant account.

Your iPAS Administrator may also impose restrictions on the amount of cash you can work with in a given transaction.