How to Send Inbound Wire for Credit Reserve
To fund your Actum Processing merchant account’s credit reserve, please send a notice of inbound wire funds to funding@actumprocessing.com. When a wire or ACH has been sent to us to fund your account’s credit reserve, please indicate “Wire Sent for (Name of Business) – (Actum ParentID)” or “ACH Sent for (Name of Business) – (Actum ParentID)” and inform us that the wire or ACH has been sent to fund your account’s credit reserve. Also, ask when the funds from an inbound wire will be ready for use once we’ve worked on the wire or ACH. Our team will inform you of the availability of the funds.
Moreover, Actum will only accept funds sent from a bank account held by the company listed on your Client Services Application and Agreement. Additionally, funds sent from another company will be returned or rejected and a per occurrence fee of $35.00 will be charged.
Here is our Settlement Account Domestic Wire Instructions:
Wells Fargo
Actum Processing, LLC
7004 Bee Caves Road
Bldg. 3 Suite 312
Austin, TX 78746
ABA: 121000248
Account Number: 1360337941
Below is our Settlement Account ACH Instructions:
Wells Fargo
Actum Processing, LLC
7004 Bee Caves Road
Bldg. 3 Suite 312
Austin, TX 78746
ABA: 111900659
Account Number: 1360337941
Effective May 31, 2021, a normal wire results in a $35.00 Normal Wire Fee. However, merchants can avail the reverse wire option which allows merchants to fund their credit reserve account into the Reporting Portal. Accordingly, this initiates a reverse wire or drawdown request from the portal. Once this is initiated, the credit reserve funding process is fully automated, avoiding delays and possible inaccuracies with manually handling a wire. In this case, a Wells Fargo API service fee of $12.50 has been added to the current inbound wire fee of $12.50 resulting in a $25.00 Reverse Wire Fee.
Please contact support@actumproessing.com to obtain the Reverse Wire Instructions and Authorizations Form. Once the form has been completed, signed, and returned to Actum, we will enable the Reverse Wire option for your merchant account.
For merchants who prefer the ACH funding method, a $22.50 Inbound ACH Credit Fee will be assessed.