How to Send a Wire Transfer to Fund Your Palus Account
What Is a Wire Transfer?
In the United States, the two most common methods of moving money between bank accounts are ACH and wire transfer.
ACH (Automated Clearing House) is designed for smaller, routine transactions: things like payroll, bill payments, and routine transfers. ACH is typically easier to use, since you can authorize companies like Palus to pull money out of your bank account, but it's usually capped at $100k or less per transaction. Palus typically uses ACH for deposits and withdrawals under this limit. ACH transactions usually settle in 1-2 business days.
Wire transfers are standard for larger transactions; your VC investments almost certainly came in via wire. Wires don't have transaction limits, so Palus uses wire transfers for deposits and withdrawals over $100k; wires also typically settle same-day, so they're faster than ACH. The tradeoff (besides higher fees, which most startup-focused banks waive regardless) is that companies can't "pull" a wire from your account; you have to initiate wires from your bank's side.
What You'll Need
Before you start, you'll need the following information, which you can find on your Palus dashboard by clicking on Deposit → Send us a wire.
| Field | Description |
|---|---|
| ABA routing number | A 9-digit number identifying the receiving bank |
| Bank name | The bank where funds are received |
| Bank address | The address of the above bank |
| Account number | The specific account your funds will be deposited into |
| Beneficiary name | The name on the receiving account, e.g. "Palus Finance, Inc." |
| Beneficiary address | The address of the above beneficiary |
| Memo | Please include your email and/or organization name |
How to Send a Wire
The exact steps vary by bank, but the general flow is the same. Since Mercury is our customers' most widely used bank, we're including specific instructions below.
Sending a Wire from Mercury
Mercury (the most popular bank among our customers) uses a unified Send Money flow for all payment types (ACH, wire, and check), so you won't find a standalone Wire Transfer button.
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Navigate to Move Money → Send in the upper-right corner of your Mercury dashboard. (On mobile, tap the transfer icon ⇄ on the bottom nav bar.)
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Choose or create a recipient. If this is your first wire to Palus, you'll need to add us as a new recipient. Select Create recipient and enter the beneficiary details from your Palus dashboard.
If you've already sent us a wire before, simply search for and select the existing Palus recipient.
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Select Wire as your payment method. Then click Next.
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Set the amount, source account, and send date. The amount is your deposit total. Then click Next.
Mercury's daily wire cutoff is 4:30 PM ET. Wire submitted after this cutoff will be sent the next business day.
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Add a purpose and memo/details. Please include your email address and/or organization name in the memo field. If you haven't previously connected this bank account to Palus, this is how we match the incoming wire to your Palus account.
Then click Next.
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Review and send. Double-check the recipient details, amount, and memo on the confirmation screen, then click Send Wire. Mercury will process the wire.
You may need to confirm via two-factor authentication if prompted. Mercury may ask you to approve the transaction via your authenticator app, especially for first-time recipients or large amounts.
What Happens After You Send
Here's what to expect once your wire is on its way:
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Your bank charges your account. This is usually immediately or within minutes of confirmation.
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The wire settles. If you send your wire before your bank's cutoff time (often around 2–4 PM ET), it will usually arrive the same business day. Wires sent after the cutoff will settle the next business day.
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We process the incoming wire. Once the funds arrive at our custodian bank, our system matches the wire to your account using your memo and/or the information we already have on your bank account.
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Your Palus balance is credited. As soon as we process the wire, the funds are reflected in your Palus dashboard and immediately start earning yield.
Timeline Summary
| Scenario | Typical Timeline |
|---|---|
| Wire sent before cutoff (typically 2 PM ET) | Credited to your Palus balance same business day |
| Wire sent after cutoff or on a weekend/holiday | Credited next business day |
| Account not previously connected to Palus, and no memo with company info | May take 1–2 additional business days while we reconcile manually |
Frequently Asked Questions
Can I fund my account with ACH instead of a wire? Yes! Our default deposit flow uses same-day ACH with a limit of $100K per transaction and $250K per day. For larger amounts, wire is the way to go. You're on the right page!
Does sending a wire cost money? Many banks charge the sender a wire fee (typically $15–$30), but most startup-focused banks, including Mercury, Rho, and Brex, offer free domestic wires. Palus doesn't charge our customers any wire fees.
What if I don't include the memo on my wire transfer? While it makes things a lot easier for us if you include it, don't worry if you forget. We'll try our best to match it to the right Palus account and reach out to you to confirm. Worst case scenario, the wire will be returned to your bank account.
What if I send from a bank account that wasn't previously connected to Palus? If your account doesn't show up in your Account page on Palus, we will use the info included in the memo to determine what account to credit. Otherwise, it will be returned.
Can I send an international wire? Wires from non-US bank accounts are not currently supported.
Still have questions? We're always happy to help! Just email us at info@palus.finance or message us through your Palus dashboard.