Systems and methods for determining timing of a remittance payment

A computer-implemented method performed by one or more processors of a remittance provider computer system, the method comprising:

• receiving, at the remittance provider computer system, a request from a payor to initiate a remittance payment;
• calculating, by the remittance provider computer system, a date of availability for a payee to access funds related to the remittance payment, including:
• based on the request, determining a start time for processing the remittance payment;
• calculating an initial processing duration attributable to the remittance provider computer system and associated with the remittance payment, wherein the initial processing duration is calculated by summing at least:
• (i) a time between when the date of availability is provided to the payor and when a payment instruction for the remittance payment is sent to an aggregator computer system,
• (ii) a cancellation period, wherein the cancellation period is a predetermined period of time in which the remittance payment can be canceled without penalty to the payor, and
• (iii) the start time for processing the remittance payment;
• providing, by the remittance provider computer system to the aggregator computer system, a user interface displaying a calendar comprising a first selectable object associated with a first date that when actuated indicates that the aggregator computer system will not process the remittance payment on the first date, and a second selectable object associated with a second date that when actuated indicates that the aggregator computer system will not process the remittance payment on the second date;
• receiving, by the remittance provider computer system via at least the first selectable object and the second selectable object of the calendar, calendar information from the aggregator computer system that indicates the aggregator computer system will not process the remittance payment on the first date but is available to process the remittance payment on the second date;
• determining, by the remittance provider computer system, availability of the aggregator computer system to process the remittance payment based on the calendar information received via the first selectable object and the second selectable object, wherein the availability of the aggregator computer system includes the second date and does not include the first date, and is determined according to the start time and the initial processing duration, and based on processing hours indicated in the calendar information received from the aggregator computer system;
• and
• calculating, by the remittance provider computer system, an aggregator processing duration for the aggregator computer system to process the remittance payment, wherein the date of availability is calculated based on the availability of the aggregator computer system and the aggregator processing duration;
• determining, by the remittance provider computer system, an adjustment to the remittance payment based on account information of the payor and a location of a payee bank corresponding to a payee account of the payee bank;
• generating, by the remittance provider computer system, a disclosure receipt based on the adjustment to the remittance payment, the disclosure receipt comprising one or more terms of the remittance payment, an indication of the adjustment to the remittance payment, and the date of availability;
• and
• providing, by the remittance provider computer system, the disclosure receipt to the payor prior to processing the remittance payment, the disclosure receipt including the one or more terms of the remittance payment, the one or more terms including the date of availability.

A computer-implemented method performed by one or more processors of a remittance provider computer system, the method comprising:

• receiving, by the remittance provider computer system, a request from a payor to initiate a remittance payment;
• calculating, by the remittance provider computer system, a date of availability for a payee to access funds associated with the remittance payment, including:
• based on the request, determining a start time for processing the remittance payment;
• calculating an initial processing duration attributable to the remittance provider computer system and associated with the remittance payment, wherein the initial processing duration is calculated by summing at least:
• (i) a time between when the date of availability is provided to the payor and when a payment instruction for the remittance payment is sent to an aggregator computer system,
• (ii) a cancellation period, wherein the cancellation period is a predetermined period of time in which the remittance payment can be canceled without penalty to the payor, and
• (iii) the start time for processing the remittance payment;
• calculating a modified start time by adding the initial processing duration to the start time;
• providing, by the remittance provider computer system to the aggregator computer system, a user interface displaying a calendar comprising a first selectable object associated with a first date that when actuated indicates that the aggregator computer system will not process the remittance payment on the first date, and a second selectable object associated with a second date that when actuated indicates that the aggregator computer system will not process the remittance payment on the second date;
• receiving, by the remittance provider computer system via at least the first selectable object and the second selectable object of the calendar, calendar information from the aggregator computer system that indicates the aggregator computer system will not process the remittance payment on the first date but is available to process the remittance payment on the second date;
• determining, by the remittance provider computer system, a next available time for the aggregator computer system to process the remittance payment based on the modified start time and the calendar information including the second date and not including the first date received from the aggregator computer system via the first selectable object and the second selectable object;
• calculating, by the remittance provider computer system, an aggregator processing duration for the aggregator computer system to process the remittance payment;
• generating, by the remittance provider computer system, an aggregator completion time by adding the aggregator processing duration to the next available time of the aggregator computer system;
• determining, by the remittance provider computer system, a next available time for a remittance network member (RNM) computer system to process the remittance payment based on the aggregator completion time and calendar information received from the RNM computer system;
• and
• calculating, by the remittance provider computer system, an RNM processing duration for the RNM computer system to process the remittance payment, wherein the date of availability is calculated by adding the RNM processing duration to the aggregator completion time;
• determining, by the remittance provider computer system, an adjustment to the remittance payment based on account information of the payor and a location of a payee bank corresponding to a payee account of the payee bank;
• generating, by the remittance provider computer system, a disclosure receipt based on the adjustment to the remittance payment, the disclosure receipt comprising one or more terms of the remittance payment, an indication of the adjustment to the remittance payment, and the date of availability;
• and
• providing, by the remittance provider computer system, the disclosure receipt to the payor prior to processing the remittance payment, the disclosure receipt including the one or more terms of the remittance payment, the one or more terms including the date of availability.