How do I withdraw my balance?

*This article is for users with Send & Receive accounts.  Receive-Only accounts do not have a Balance*

Why do I have a balance?

If you have a Send & Receive account and you receive a payment or a payment you send is returned, it will be deposited into your Horizon Balance.  Funds held in your Horizon Balance are yours and can be transferred out at any time.  If you have a balance in your personal payment center account, a reminder will be displayed on the Members Home page to remind you that you have a positive balance so you don't forget about it.

Will my balance automatically go into my bank account?

No.  If you have a Send & Receive account with a positive balance, your balance will not automatically move to your bank account.  The funds will remain in your Horizon Balance until you decide to withdraw the funds or use them for sending payments.

How do I get my balance?

To receive your balance, you'll need to initiate a withdrawal from your Horizon Balance to your desired bank account.  You may do this by logging in to the Horizon Payment Center and navigating to the Balance & Transactions tab.  Use the Withdraw Funds option to move money from your Horizon Balance to your connected bank account.

How do I know what type of account I have?

If you have a balance, then you have a Send & Receive account.  Users with Receive-Only accounts will not have a balance shown at all.  Users with Receive-Only accounts will have their funds automatically deposited into their bank accounts.  Receive-Only accounts are deprecated and are usually the result of being transferred from our old platform.  Beginning November 9, 2018; new users setting up new payment center accounts on the new Horizon Payment Center will all be issued Send & Receive accounts during the current sign-up process.

Does this make receiving payment take longer?

No.  Receiving payments is still the same amount of time.  Transfers between a bank account and the Horizon Payment Center still take 1 to 2 business days.  Transfers from one Horizon Payment Center account to another are instantaneous.  A "full payment cycle" is 2 to 4 business days as the funds are first pulled from the sender's bank account and into the Horizon Payment Center (1 to 2 business days) and then from the Horizon Payment Center to the receiver's bank account (1 to 2 business days).

Can I setup auto-withdrawal?

At this time auto-withdrawal is not available for users with Send & Receive accounts.  However, we expect that functionality to become available in 2019.  In the meantime, you will need to manually initiate a withdrawal to your bank account whenever you wish to move funds from your Horizon Balance to your desired bank account.

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