At Arch, we offer multiple convenient methods for making your interest payments, ensuring flexibility for all users. Whether you prefer to use stablecoins or traditional bank transfers, we’ve got you covered.
Supported Payment Methods
You can choose from the following payment options:
Via a linked bank account
Stablecoin (USDC) payments
Via manual wire transfer from your bank
Via manual ACH transfer from your bank
1. Via a Linked Bank Account
Connecting a bank account directly to Arch is the easiest way to pay directly using dollars. Please see this detailed article on how to connect a bank account and make a one-time payment or configure autopay.
1. Stablecoin (USDC) Payments
We currently accept USDC on both the Ethereum and Polygon networks. If you prefer paying with stablecoins, follow these steps:
Click make a payment on your Arch dashboard
Select the USDC transfer and choose either Ethereum or Polygon based on your preferred network. The contract addresses can be found for USDC on Ethereum here and for Polygon here.
Copy the wallet address provided for payments or scan the QR code.
Complete the transfer from your wallet, ensuring you send the correct amount of USDC.
Any additional payment received will be automatically credited toward paying down the principal.
Typically Polygon has cheaper network fees than Ethereum
Note: Be sure to use the correct network (Ethereum or Polygon) when making the transfer, as incorrect transfers may result in delays, additional fees or your assets being lost. We also do not accept any wrapped forms of USDC such as USDC.e.
3. Manual Wire Transfers
If you prefer to make payments through a wire transfer, select the Wire Transfer option.
Please be sure to input the correct wire transfer details to avoid any failed or returned payments.
4. Manual ACH Transfer
We also support ACH payments.
ACH transfers are generally processed within 3 business days.
Tips for a Smooth Payment Process:
Make use of the automatic payment feature to set up a schedule of automatic payments made from your bank account.
Double-check all payment details before initiating any transfer to avoid errors or delays.
Track your payments via the Arch platform. Once we receive your payment, it will be reflected in your account, and you’ll receive a confirmation email.
Keep and eye out for Arch's reminders as your payment due dates approach to ensure you never miss a payment and stay in good standing.
Common questions
When will my USDC transaction get to Arch?
USDC payments will generally show up as PENDING in your Loan dashboard immediately. It may take up to half an hour for the transaction to be confirmed on the blockchain and then get attributed towards your statement. If you're sending USDC from a custodian or exchange it may in addition take several hours before they actually release the stablecoins and issue the blockchain transactions. Arch has no way of knowing about this and only see the transaction once it's published on the blockchain.
How can I see my stablecoin transactions on the blockchain?
Polygon and Ethereum offer block explorers to let anyone see what transactions are happening on the blockchain. If you've issued a stablecoin payment you'll be able to track it there as well as on your Arch Loan dashboard, which also provides a handy link to it.
For Ethereum stablecoin payments you can use etherscan and search for the USDC payment address displayed in your Arch dashboard to confirm that your custodian/exchange has made the transaction. For Polygon you can use polygonscan. If you don't see your transaction in the Arch dashboard it can be a good idea to check there first to see if the custodian has released it yet.
If you have any questions about the payment process or encounter issues, don’t hesitate to contact our support team at support@archlending.com, or using the in-app chat functionality.