Fan inc. Wallet External Account Transfer Information

Standard Transfers:

Fan inc. standard transfers to linked bank accounts typically take 1 to 3 business days to process. After initiating a transfer, you can check the estimated arrival date in your personal transactions feed within the Fan inc. app. Keep in mind that transfers are reviewed, which may result in delays or, in some cases, funds being frozen or removed from your Fan inc. account. The transfer times are dependent on several factors, including weekends and bank holidays, which may extend processing time.

Transfer Timeline Based on Request Time:

• Weekdays (Mon-Fri) before 5 PM CT: If you request the transfer before 5 PM CT, it may reach your bank account as early as the next business day, though it may take up to 3 business days.
• Weekdays after 5 PM CT: If the request is made after 5 PM CT, the transfer will initiate on the next business day. From that point, it could take 1 to 3 business days to reach your account.
• Weekends (Saturday or Sunday): Transfers requested over the weekend will initiate on the following business day (usually Monday). It could reach your bank account as early as the following business day but may take up to 3 business days to arrive.
• Bank Holidays: If your transfer request coincides with a bank holiday, you should add an additional business day to the expected timeline. For example, a transfer requested on Monday before 5 PM CT could arrive by Wednesday if Tuesday is a bank holiday.

Instant Transfers:

Fan inc. also offers instant transfers for users who wish to transfer funds to their linked bank account quickly. Instant transfers generally take up to 30 minutes, depending on your bank’s processing speed. These transfers are subject to a 3% fee, which will be deducted from the transfer amount. Instant transfers are available 24 hours a day, 365 days a year, including weekends and holidays.

Review of Transfers:

All transfers (standard and instant) are subject to review to maintain the security of your account. During this review process, transfers may be delayed, declined, or funds may be frozen or removed from your Fan inc. account if any issues are detected.

FAQ

Why are the timelines dependent on business days?

The timing of standard bank transfers relies on the Automated Clearing House (ACH) system, which processes transactions during business days. While we strive to process transfers as quickly as possible, we cannot expedite this process once initiated.

Why do standard transfers take longer than instant transfers?

Standard transfers use the ACH system, which typically processes payments in 1 to 3 business days. Instant transfers, on the other hand, use real-time networks, allowing the money to reach your bank account much more quickly.

What if I don’t see my transfer in my bank account?

In rare cases, your transfer might post to your bank account on a different date than the one estimated in the app. Be sure to check for the transaction on the surrounding days. If your transfer hasn’t appeared after 3 full business days, we recommend reaching out to your bank directly.

Checking Transfer Status:

Once an instant transfer is initiated, the app will display a confirmation with a green check mark. You will also receive a notification when the transfer is completed. If the transfer still shows as pending, please allow up to 30 minutes before checking your bank statement.

Instant Transfer Eligibility:

Instant transfers only work with U.S. bank accounts or that participate in instant transfer services . If your bank or card does not support this feature, you can still use the free standard transfer option, which typically takes 1 to 3 business days.