Flourish

Announcing same-day transfers with Flourish Cash


October 30, 2024

Estimated reading time: 3 minutes

Flourish Cash† now offers same-day transfers for all account types, giving clients increased confidence that their money will be where they need it, when they need it.|

Same-day transfers

Clients have always had the ability to send and receive money on the same day with Flourish Cash via wire transfers, but the process required manual confirmation and a wire fee. Now, we've made standard ACH transfers even faster, giving clients peace of mind knowing they can always quickly access their cash with free, unlimited transfers. 

How fast does it go? On weekdays, if you initiate a transfer before 7am ET then your funds should arrive in your destination account at 2pm ET that same day for both deposits and withdrawals. If you initiate a transfer before 3pm ET, the funds should arrive at 6pm ET.

graphic2-same-day-ACH-settlements (1)-1
graphic1-same-day-ACH-settlements (1)-1

As always, fund availability is subject to the processing timeline of the receiving financial institution. While funds will generally arrive along the stated timelines, funds may not be displayed or available to clients until the end of the business day for the financial institution. For an overview of transfer request and expected settlement times, see the table below.

How to get started

Clients can easily initiate a transfer in a few simple steps:

  • Log in to your Flourish account
  • On the dashboard, click "Manage" next to the account you want to transfer money into or out of
  • On the Activity page, click "Make a new transfer"
  • Select the accounts you would like to send money from and to
  • Enter the transfer amount. Information about the estimated availability will appear below the transfer amount
  • Click "Next" and then "Confirm"

Supporting clients and the ways they save

Faster transfer times can support clients in various ways:

  • For clients who unexpectedly need to access their emergency fund
  • For clients who want to transfer over a mortgage payment
  • For clients saving for their dream home who need to move funds to escrow
  • For clients wanting to pay off their monthly credit card bill
  • For clients who own a business and want to transfer funds for payroll
  • For clients who want to regularly transfer over funds for day-to-day expenses
  • For clients who need to transfer funds for their annual tax payment
  • And more

Earn more, faster

Not only do faster transfers benefit clients who need to move their reserve cash from Flourish to their standard bank account, but it also allows those who want to maximize their interest-earning potential to quickly shift funds into Flourish Cash and begin earning a competitive rate that is more than 9x the national savings account average.#

The ability to quickly start earning interest can be especially useful in the case of an annual bonus, unexpected windfall, or other moments when clients have an influx of funds. 

Overview of transfer times

Below is an overview of transfer request deadlines and expected settlement times for weekdays, weekends, and holidays. Fund availability is subject to the processing timeline of the receiving financial institution and may be later than ACH settlement time. 

Transfer times overview 10302024

 

About Flourish

Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform is used by more than 850 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by MassMutual. For more information, visit www.flourish.com.

 

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Flourish is an online platform through which investors can access financial services and products. Flourish's offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Crypto is offered by Paxos Trust Company, LLC, a New York limited purpose trust company regulated by the New York Department of Financial Services that provides custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC, registered in New York as a commodity broker-dealer and provides website and other services and support for Flourish Crypto accounts. Paxos is not an affiliate of Flourish. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform. Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency. An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, a licensed insurance producer, with offices in Jersey City, New Jersey, and are issued by one or more approved licensed life insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash, Flourish Crypto, and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2024 Flourish. All rights reserved.

† A Flourish Cash account is a brokerage account offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party Program Banks that have agreed to accept deposits from customers of Flourish Financial LLC. The accounts at Program Banks will pay a variable rate of interest.

| For transfer requests submitted by the applicable deadline, funds will generally be transferred to or from the requested external account by the same or next business day, except for requests submitted on the weekend or on a holiday, which should be completed by the following business day. In some circumstances, transfers may take longer to complete, as further described in your Account Agreement. For withdrawal requests, fund availability is subject to the processing timeline of the receiving financial institution and may not be displayed or available until the end of the financial institution's business day.

# Federal Deposit Insurance Corporation, National Deposit Rates: Savings [SNDR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SNDR, 10/21/2024.