Tuesday, August 24, 2010 - 5:58 PM

No AHC Feature

(4 stars)

The bank has no AHC feature. If you want to move money to and from it, it must be initiated by another bank.

Other than that, great bank with a great rate.

Quovatis11 posts since
Feb 4, 2010
Rep Points: 61

1. Wednesday, August 25, 2010 - 9:58 AM

AHC --> ACH.

Most RCA banks do not have ACH features. It is Online Savings banks that may likely have such a feature.

51hh1,045 posts since
Jan 16, 2010
Rep Points: 4,764

2. Wednesday, August 25, 2010 - 11:48 AM

Even if your RCA has an ACH feature, it is usually advisable to have an external hub bank/credit union for ACH movement of funds. A bank/credit union with an exceptional ACH feature (emphasis on speed of transfers and limit on size of transfers) is usually able to make larger transfers in less time than the RCA bank. Alliant Credit Union completes ACH transfers initiated by Noon Chicago time the same day. The daily transfer limit at Alliant is $25,000 for most customers.

Alan32 posts since
Jun 7, 2010
Rep Points: 174

3. Friday, September 17, 2010 - 10:44 AM

According to a thread at FW, a rep told the member the rate is going down to 3.01% effective October 4th.

Quovatis11 posts since
Feb 4, 2010
Rep Points: 61