FedWire Drawdown
Rho supports FedWire Drawdown as a funding method for payroll providers. This option allows your payroll provider to initiate a wire transfer that pulls funds directly from your designated Rho account when payroll funding is due.
When FedWire Drawdown Applies
FedWire Drawdown may be a good fit when:
Your payroll provider needs same-day or time-sensitive funding.
The provider doesn’t support ACH debit functionality.
You prefer the provider to automate funding by pulling funds directly instead of sending manual payments.
This method is often used for payroll cycles with tight timelines or when guaranteed same-day settlement is required.
Alternative Option
If your payroll provider supports ACH pulls, you can share your Rho ACH details (available in your account) so they can debit funds using your routing and account number. For more information on ACH debits, visit: Can My Vendors Pull Funds From My Rho Account via ACH?
Set Up FedWire Drawdown
To set up FedWire Drawdown, email clientservice@rho.co with your provider’s name and the reason for your request. Our team will assist you in completing the setup.