Disbursement Types

The below disbursement types are available to all customers, though based on the discussion you had with our team when your organization transitioned to the True Link platform not all of them may be enabled for you. If you see a disbursement type that would be helpful for your organization, and you do not currently have it enabled, please reach out to trustsupport@truelinkfinancial.com.

We are happy to offer fulfillment of five different types of disbursements that empower you to serve your beneficiaries. Below is a full list of the disbursement options, and more information about them.

Electronic Funds Transfer (EFT)

Electronic Funds Transfers (sometimes referred to as ACH or direct deposits) are digital money movement transfers from one bank account to another. This disbursement option is most commonly used to pay merchants electronically using the payee’s bank account and routing number. Once processed, an EFT will become available to the payee within 1-4 business days.

EFT disbursement statuses:

Approved: Disbursement has been approved and will be processed on the scheduled process date.
Processed: EFT transfer has been initiated.
Cleared: The funds have cleared your bank account. This does not necessarily mean the funds arrived in the receiving bank account. It can take several business days for the financial institution to process the EFT into the receiving account. For more specific timeline information for when a Cleared EFT disbursement will arrive, we recommend reaching out to the receiving financial institution for more information.

Check (True Link Fulfills)

Checks fulfilled by True Link will be submitted to our check processing partner on the day of the process date. Our vendor will process and mail the check within 1 business day.

Our check processing partner offers the following shipping timelines, all of which can be selected when you request the disbursement:

USPS First Class - free, 5-7 business days
USPS Priority + Delivery Confirmation - $12.00, 2-3 business days
USPS Priority Mail Express - $35.00, 1 business day*

*Some addresses take 1-2 business days based on the shipping address/USPS processing center locations and timelines

Check (True Link fulfills) disbursement statuses:

Approved: The disbursement has been approved and will process on the scheduled process date
Processed: The check has been printed and mailed out by our check vendor.
Cleared: The funds have cleared and the check was deposited.
Stopped: A stop payment has been placed on the check and it is no longer able to be deposited.
Stopped and redeposited: A stop payment has been placed on the check and it is no longer able to be deposited. The funds will be redeposited into the sub-account within 2-3 business days.

Check (Generate PDF)

Checks generated as a PDF will be printed and mailed by you. The check PDF will be available for printing once the disbursement is approved. Your team will be responsible for mailing the check to the payee. Please contact our team for more information on our recommended check stock and envelopes.

Check (Generate PDF) disbursement statuses:

Approved: The disbursement has been approved and will be processed on the scheduled process date.
Processed: The check has been printed.

If you ever need assistance retrieving a check PDF in Processed status, please contact our Trust Support team at trustsupport@truelinkfinancial.com.

Cleared: The funds have cleared and the check was deposited.

Wire

In general, domestic wires will arrive the same day. International wires can take up to 5 business days to clear based on the receiving bank’s wire processing timelines. Once a wire clears, True Link can provide the Federal Reference Number which may be used to track the wire transfer with the receiving financial institution.

Unlike the other disbursement types listed in this article, a wire disbursement can only be submitted as a one-time disbursement.

Each financial institution processes wires differently. As a result, the most important information required to process wires successfully is to upload the wire instructions as an attachment to the wire disbursement. If you are unable to attach wire instructions to the disbursement, we will attempt to process the wire with the information provided. If there is ever an issue with processing the wire, we will reach out to you to request additional information.

Lastly, if a wire disbursement is entered and approved with “Upon disbursement approval” selected, the wire will process +1 business day after it is approved. If you have an urgent wire need, please reach out to trustsupport@truelinkfinancial.com. Additional information regarding urgent wires can be found in our Help Center article “Urgent wires and liquidity”.

Payee Information Required For Wires:

When adding a payee for wires, a form will appear requesting the following information:

Payee Name: This is the person who is receiving the funds (the bank’s name should not be entered in this field).

Receiving Bank Routing Number: Most banks use different routing numbers for wires. We recommend confirming this information with the payee or receiving bank if possible.

Receiving Bank Account Number:

Address: This is the address associated with the receiving account holder, not the bank address.

SWIFT Code: A SWIFT Code is only required for international wires. If you are processing a domestic wire, you may leave this field blank.

Wire Instructions: Please include any additional information required to complete the wire such as an intermediary bank or specific instructions requested by the payee. The best way to ensure a wire is processed successfully is to attach the wire instructions to the disbursement.