What is the Horizon Payment Center?


What is the Payment Center?

The Horizon Payment Center is a method to make and receive payments online via direct deposit bank-to-bank ACH transfers. Payment transactions are currently limited to citizens and organizations based in the United States. The Horizon Payment Center is powered by Dwolla, Inc., a third-party agent of Veridian Credit Union. All funds associated with your Horizon Payment Center account are held in one or more pooled accounts at Veridian Credit Union. These funds may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union.

Is there is setup fee?

There is a one-time setup fee for anyone wanting to use the Horizon Payment Center. Officials that create personal accounts to receive funds will pay a setup fee of $10.00 USD, per account. Organizations that setup business accounts for sending funds will pay a setup fee of $50.00 USD. These are one-time setup fees charged to the account holder to create a Horizon Payment Center account. See our full Horizon Payment Center Pricing page for details on pricing.

How much does it cost to use?

The fee is $0.85 per transaction (i.e. per payment). There is no percentage taken no matter how much the payment amount is for. The party initiating the transaction (sender) can choose whether the $0.85 service fee is paid by the sender or receiver of the payment. The sender can decide which option to use for each batch of payments separately. Organizations can optionally apply for Same Day transaction eligibility, if desired. Same Day transactions are an optional higher-cost service at a cost $2.50 USD per transaction.

The maximum per-transaction payment amount is $10,000 for any single payment. Payments that originate directly from your bank (instead of your balance) will also have varying transaction limits to prevent abuse. If a payment is reversed, charged back or returned you may also be subject to a reversal fee of up to $15.00 USD and you will be liable for the total amount of the reversed transaction. Accounts that are suspended or deactivated for serious violations will be subject to a $35 account reactivation fee. See our full Horizon Payment Center Pricing page for details on pricing.

Do I need to deposit money before sending a payment?

It is not required, but it is recommended as it will enable better functionality, faster payments and higher transaction limits. If you want, you can keep your money in your regular bank account and funds will be pulled from your bank account when you issue payments. This results in a processing time of about 2 to 4 days. Organizations that deposit funds into their Horizon Payment Center account ahead of time will be able to process transactions in 1 to 2 business days under normal circumstances or they can optionally use Same Day transfers, for a higher fee ($2.50 USD).   

Do officials need to create an account before they can be paid?

Yes. Any user receiving funds via the Horizon Payment Center must create and setup a personal account prior to receiving any payments.

How long does it take for funds to transfer?

Payments that are going from an organization's bank account to the recipient's bank account usually take around 2 to 4 business days total. Transaction cut-off time is strictly 5:00pm ET on business days. Transactions submitted after this time or on non-business days will begin processing on the next available business day. It is not required to deposit money to the Horizon Payment Center ahead of time, however, if you do deposit money ahead of time, you can reduce this total time down to around 1 to 2 business days for the payment to arrive. Depositing funds ahead of time will also enable higher payment limits and more advanced features like Same Day transactions (for an additional fee).

How do I know that this is safe?

HorizonWebRef.com takes security very seriously. During your payment transactions, HorizonWebRef.com is never provided with any information about your bank accounts and account information is encrypted and secured. Our third-party financial processor, Dwolla Inc., uses the highest level of security and encryption available today to prevent fraud and theft. You can get more information about Dwolla Inc.'s security practices by visiting the Dwolla's Security Page. You can also review the HorizonWebRef.com Terms of Service and Privacy Policy that govern how we operate our services.

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