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 a setup fee?
There is a one-time setup fee for anyone wanting to use the Horizon Payment Center. referees/umpires that create personal accounts to receive funds will pay a setup fee of $10.00 USD per account. Organizations that set up 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). No percentage-based fee is taken, no matter how much the payment amount is. The party initiating the transaction (sender) can choose whether the $0.85 service fee is paid by the sender or the payment receiver. 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 the cost of $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 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 3 to 5 days. Organizations that deposit funds into their Horizon Payment Center account ahead of time will be able to process transactions in 1 to 3 business days under normal circumstances, or they can optionally use "Same Day" transfers for a higher fee ($2.50 USD).
Do referees/umpires need to create an account before they can be paid?
Yes. Any referee or umpire being paid via the Horizon Payment Center must create and set up an 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 3 to 5 business days total. Transaction cut-off time is strictly 5:00 pm 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 deposit money ahead of time, you can reduce this total time to around 1 to 3 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?