ACH Transactions

What is ACH?
Automated Clearing House (ACH) processing is a faster way of moving money.  Waiting for funds to enter or leave your account can create unnecessary confusion when managing your money.  Starting Friday, September 15, 2017 these withdrawals may complete in a single business day, shortening the processing time.

How it affects you
The types of transactions affected by this change are those which use a routing number and account number to make, or receive, a payment electronically.  This may also include when you use a paper check, and the merchant converts it to an electronic payment.

Same day ACH processing may reduce the amount of time between when you make or receive a payment and when it is reflected in your account.  Remember, only make/authorize payments when the funds are in your account in order to avoid declined payments, insufficient funds fees and/or Overdraft Privilege fees (if you are enrolled).

Why is this changing?
All merchants and financial institutions will soon be able to use same day ACH processing in order to be compliant with the National Automated Clearing House Association rules.

Questions?  Contact us.