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How ACH Transfers Work

You want to make sure that your mortgage and utility bills are paid on time every month, but you hate writing checks, and paying postage to mail those bills is getting to be a hassle. Therefore, you sign up for automatic payment with each of these companies. In doing so, you notify your mortgage and utility companies that you would like the respective set amounts to be taken from your account on certain days each month. When those days arrive, the receivers (the companies that receive the payments) contact the originators (the billers) and tell them to send requests to your bank to transfer the money amounts from your account to the lenders’ accounts per your written permission that you gave when you signed up for automatic bill pay.

The originators send the information to the ODFI (your bank) which then deducts those amounts from your account. At this point, the money is still in your account, but it’s not available to you because holds have been placed on those funds. The lender's bank transfers the amounts to the lenders’ accounts, but the bank doesn't make the money available yet. These transactions will be listed as a "pending ACH transfers". Once the RDFI (usually the Federal Reserve) receives the information, the accounts are reconciled (“balanced”), proven to have sufficient funds to complete the transaction ("cleared"), and the money is officially deducted from your account and deposited in your lenders’ accounts ("settled"). Now, the transactions are officially complete. Your bills are paid for another month. If you don’t yet use direct deposit or automatic bill pay personally, signing up is simple. Just notify your employer and/or the billers for which you have services or products that you wish to participate in Automatic Billing. Some billers may require you to fill out minimal paperwork, but most companies offer the opportunity to sign up online by visiting their websites.

While the concrete details as to how transactions are recorded and finalized aren’t available to the general public to prevent hacking, safeguard account information and maintain the integrity of the system, you might be surprised to learn that clearing transactions is a relatively simple, comparatively quick procedure. A typical transaction takes anywhere from a few hours to a few days to clear depending on how much traffic passes through the regional clearing houses. Interestingly, these transactions do not happen in “real time” as some might think. Instead, participating institutions receive output files (transaction updates and notations) just four times a day. Therefore, the transaction might not appear immediately in your record.

How Businesses and Other Government Agencies Utilize ACH Transfers

Many businesses use direct deposit to pay their employees. When you get your check direct-deposited, your employer uses the ACH to place the funds from your paycheck into the account(s) that you designate on your employment paperwork. The vast majority of Americans who have the option to do so use direct deposit to ensure their checks are placed into their accounts without them having to worry about losing the check or waiting to use the money. The money is available immediately, and people can plan their monthly budgets according to when they get paid. Similarly, if you use Automatic Bill Pay to pay mortgage, utility, or credit card bills, the companies that provide those services to you receive their payments through the ACH network. In using the ACH network, you control the amount of your payment, and you decide when the payment goes out to the lender. There’s no more stress about whether these bills will get paid on time. Just keep in mind that you are obligated to have the money in your account at the time that the payments go out. If there isn’t enough money in your account at the time that the payments are delivered, you might face penalties that range from late fees to suspension or discontinuation of services. These companies might also notify the credit bureaus that you didn’t pay the bill on time which could cause your credit rating to plummet.

Businesses can also use ACH transactions in a similar manner to fulfill other financial obligations. For example, if a school system has contracts with specific food vendors to supply products to the schools within that system, ACH transfers are used to deliver money from the school system accounts to the accounts of the vendors. Many government agencies use ACH transfers on a wide scale. The IRS uses ACH transactions to receive payments and issue refunds. Various agencies (the DMV, child support enforcement agencies and the Social Security Administration) utilize ACH transactions routinely to collect and issue payments in a timely, efficient manner. In fact, the use of ACH transactions has become so widespread that more and more companies are now insisting that their customers pay them electronically. This reduces the use of paper, cuts costs and eliminates unnecessary and time-consuming record keeping since the information is all electronic. In short, the biggest advantage in using ACH transactions is that doing so simplifies the process of getting and giving money.

How to Move Cash Among Various Accounts Using ACH Transfers

If you have funds that are spread across several accounts—whether you are establishing accounts for different family members or pursuing higher interest rates—transferring and keeping up with money from various accounts can be quite challenging. Fortunately, customers do have options at their disposal so that they may track and manage their money as effectively as possible. Consider these helpful tips when deciding where you want to keep your cash stashed:

  • 1) Find a bank that requires a very low minimum balance and no monthly fees. Since it’s unlikely that you’ll be keeping the bulk of your funds here, you don’t necessarily have to worry about interest rates. However, it’s probably a good idea to keep at least some money here in case you need to transfer funds quickly, or you want to prevent your bank from closing an empty account.
  • 2) Make sure that your hub account has the ability to” push” (deposit) or “pull” (withdraw) money from multiple external accounts with no transfer fees. Some banks allow you to link just one or two accounts. Others will charge you when you initiate individual transfers.
  • 3) Look for banks with quick transfer times. Ideally, transactions should take no longer than one business day, but some financial institutions may take as long as three days to transfer money. In some cases, however, if you schedule a funds transfer before the end of a business day, they may credit your account even before you are able to withdraw the money so that you can start earning interest that day (even though, to prevent fraud, you can only withdraw the money officially after three days).
  • 4) Make sure that the bank or credit union allows the transfer. Some institutions may not permit one party to initiate transactions. Most banks will not charge customers who put money in their accounts, but some charge fees when money is withdrawn from their accounts.

Here’s a sample timeline of one such transaction:

Friday: You schedule a $500 transfer from one bank (Point A) to your hub account (Point B). You begin earning interest in your hub account on Friday, but nothing has happened at the bank yet.

Monday: $500 is withdrawn from one bank (Point A).

Thursday: $500 is available to pull from your hub account (Point B). Now, you schedule a transfer from a second bank (Point C), and $500 is debited from your hub account.

Friday: $500 is available at the second bank (Point C).

A Brief History of ACH Transactions

The Automated Clearing House (ACH) was established initially in 1972 as a collaborative effort between California banks and the regional Federal Reserve to simplify the processing of paperless check transactions. Word of its success spread so quickly that many other ACH associations were founded, and agreements were made between the associations and their respective regional banks to operate regional ACH networks. Two years later, in 1974, the National Automated Clearing House Association (NACHA) was founded to develop a national ACH network. By 1978, this had been achieved, and all ACH networks throughout the United States were linked electronically. In 1980, the Monetary Control Act was passed that gave private sector ACH operators the right to compete with the Federal Reserve Bank because the Federal Reserve could no longer offer free services since its operating costs had to be recovered. As a result, there are three private sector ACH operators: American Clearing House Association, The New York Automated Clearing House, and VisaNet ACH Services. Currently, the Fed ACH Operator, otherwise known as the Federal Reserve, handles more than 85 percent of ACH transactions. The ACH Network allows such streamlined services as online bill pay, direct deposit, and direct debiting, and it’s a faster, more secure alternative to paper check clearance. Today, the ACH Network consists of more than 12,000 financial institutions, 650 industry councils, and a network of regional ACH associations that are governed by NACHA from its headquarters in Herndon, VA.

Jerry Mandel
Jerry Mandel   |     |   Comment #1
In the ACH example of paying mortgages, etc. you only showed the "pull" methode of payees withdrawing money from your account automatically. You left out the"push" methods of your bank automatically sending a schedulled payment out and of the depositer "manually" instructing the bank to make a one-time payment.
#271 - This comment has been removed for violating our comment policy.
Gary   |     |   Comment #3
Very good comment from Jerry.  I *never* authorize "pull" ACH transactions from my accounts to pay bills, only "push" transactions using my bank's Bill Payment service.  As I understand it, once I authorize someone to remove money from my account, the only thing keeping them from ****ing up my finances with incorrect debits . . . . is their agreement not to **** up my finances.  I'd rather not grant anyone that access, and I'll keep the control.
(We are all) Satoshi Nakamoto
(We are all) Satoshi Nakamoto   |     |   Comment #174
David   |     |   Comment #5
Another benefit of using push-only transactions is that all of your pending payments are listed in one place, lowering the complexity of the burden of keeping when how much is coming out of your account and to who straight. Two of the billpay/bank systems I've used even tell you your expected balance after pending transactions, which is useful indeed.
Anonymous   |     |   Comment #6
still not understanding why it takes up to 48hrs for an online payment to clear if posted on weekday durig banking hours but a check will process by the time you get home
#23   |     |   Comment #23
I don't get it either.  I sent a check to a company via overnight to another state thinking it would take at least two days to go through my account.  I went through 2 hours after they received it the morning!  And...they use a different bank!!
MoneyTalks   |     |   Comment #268
If it is from the same bank to bank it is 24 hours; outside to another bank 48 hours just think of it logically. Money has to be moved to another institute.
Pete12   |     |   Comment #273
It's simple MONEY!!!!. Bank takes say 1,000 transfers of say $500 in 1 day (keeps math simple) = $500,000
Put $500,000 of other peoples money to work for bank for 48 hours = say $500 bank makes in 48 hours
$500 X 7 = $3500 X 52 = $182,000 a year. Add a few more zeros and you get the ideal.
Dsvid K
Dsvid K   |     |   Comment #274
Whsat if the transfers are only $300??
Oldways Farm
Oldways Farm   |     |   Comment #7
I pay many bills by check. I prefer that the companies I do business with deposit the paper check. I have made the request that some companies that put the transaction through as an ACH transaction, not to do that. Several have refused my request and my bank has told me that they, the bank, cannot stop the merchant from converting the check to an ACH transaction. Is this the case?
pbug56   |     |   Comment #161
Many billers, including retail stores, scan in a check and convert it into a money transfer in seconds. They get cash very quickly, your account loses it that quickly. If properly handled, it is far safer for a store or other biller to do it this way then to send in the paper - most actually hand it back to you after the scan. Almost as fast as using a debit card. Now I don't know if they use ACH or not; my understanding is that these scanned checks get the funds from your account in real time, but I could be wrong.
Anonymous   |     |   Comment #10
I am not happy with the ACH transactions with my Credit Union. My anger has come from deposits paid to me by SSA and enter my Credit Union. I get paid on the 3rd of every month, the ACH is posted on the last day of the prior month and it sits until the 3rd when it should become available to me at 12:00.01. Yet my Credit Union continues to hold my money beyond this time and can go for hours before it is available to me. WTF do they hold my settlement payment for after it is supose to be in my account. This is causing a major problem with my account figuring and payments of bills. The money is mine and should be available instantly after a day change when the clock rolls past the midnight hour.

I need to find a new bank that can have a better transfer time then the one I have now cause it sucks to wait passed the time the money is supose to be mine.

Credit Union I am having this issue with is Numerica CU 
#23   |     |   Comment #24
Try Chase or US Bank....they both put the ACH payments through immediately.
Anonymous   |     |   Comment #26
You do need a new bank ... my credit union immediately credits any deposit into my account.
Wildcat   |     |   Comment #191
Always remember that Banks especially the large Banks Lake US Bank Chase Wells Fargo all our Capital istic aggressive banks that look to charge fees for any minut Financial issue dealing with their companies that's why they're so big and Wealthy if you really want the best bang-for-the-buck to manage your money always use a credit union memberships run from $5 to $45 you're a fool if you don't use this banking institution it's way better than the regular banking system way more efficient
Anonymous   |     |   Comment #27
If you can qualify for USAA, we get access to our checks the business day before.
Anonymous   |     |   Comment #78
If you don't like your present CU, move your accounts to a different CU or bank. There certainly are plenty of options out there. If for some reason you do not want to switch CUs, you know what the hold time your current CU puts on your deposits, plan your financial transactions accordingly. It is not rally that complicated.
Federal Retiree
Federal Retiree   |     |   Comment #121
I agree w you... My credit union does the same thing & if that date of the ACH Deposit is on a Saturaday ( even when they r open til noon) the credit union does not deposit the Amy in my account til Monday... In the mean time my mortgage payment is due.. So I end up paying them more interest... Sucks
Screwthefed   |     |   Comment #201
They hold as long as they can to accrue interest to collect
Anonymous   |     |   Comment #12
I never heard anything about any "push" or "pull" info until I read this thread.  All I did was fill out a form granting my bank permission to withdraw certain bill payments on needed dates.  There was nothing on the form as to whether it was going to be a "push" or "pull".  Whatever it is, it has been working fine for years and no problems with the payments being made or withdrawals.
Anonymous   |     |   Comment #14
One disadvantage with using push transfers is that when something goes wrong, the creditor will just claim you didn't pay and assess late fees.  If you are set up with pull transfers, then if the payment doesn't go through it's because the creditor ****ed something up (unless you are overdrawn), and you have recourse with their customer service.

This is not just theoretical - I have run into these situations.  Conversely, I have never had a creditor misuse my authorization for a pull transfer.
Anonymous   |     |   Comment #15
Does the bank have to put ACH on pending when it first recieves it for debit of a recurring ACH
Anonymous   |     |   Comment #17
I don't allow any of my banks to use the ACH system. I simply don't trust them I want the copies of my checks or give me the address so I can go and pay you cash and give me a receipt.  I write a check and put a date several days away so they have to take the check to the bank of we pay cash.
Old Pizza
Old Pizza   |     |   Comment #76
Gee, do you use an abacus to balance your statements?
GreenDream   |     |   Comment #263
I know it's an old comment, however I'd still like to point out that "put(ting on) a date several days away" is no guarantee that the check won't be cashed before then. Banks can and will accept a check before the date you write on it. If the account doesn't have the funds available before that date, the check will bounce and you can be penalized for that check bouncing despite your writing a future date on the check.
KasHayes   |     |   Comment #18
I might be able to answer some of these quesstions.

#7 - It is true that no bank or CU can prevent a company from converting a check to an ACH. If the company does not provide opt-out instructions, and you feel you have to have a check copy returned, then it may be better to pay the merchants in question via another method.

#10 - SSA often notifies the banks and CUs 3-4 days in advance, but the financial institutions do not receive the funds from the Federal Reserve until 8am on the day of Settlement - in your case, the 3rd of each month. The institute must give you access to the funds no later than 9am on the same day. That is an ACH Rule. The only exception is if there is an error with the transaction - for instance the name is mispelled; in that case the bank has to manually fix it which could delay the posting. Call your CU and ask to speak to the ACH processor directly about why there is a delay. It could be an easy fix.

#12 - Push and Pull are just used to describe which way the money is flowing. Say you want to move money from Bank-A to CU-B. You are going to withdraw from Bank-A and deposit to CU-B. If you do the transaction by logging in to Bank-A, you will 'push' the money to CU-B. If you do the transaction by logging in to CU-B, you will 'pull' the money from Bank-A. So, if you use your bank's billpayer system, you are pushing money out of your account; if you use the vendors' sites to make payments, they are pulling the payment in. Make sense?

Hope that helps!
Anonymous   |     |   Comment #19
I have found a situation where my bank paid the ach a day before it was scheduled, this created a problem with my account because I delayed making a deposit based on the information I had. When I questioned the CU I was told it was because the scheduled day was a saturday so we authorized it on friday. How is that legal? I asked what if it was a post dated check I had written, they told me that those were only agreements that were made between me and the person I wrote the check to and that their policy was to cash the check anyway. Additionally, there is not a notice of "pending ach transaction" is this a standard practice?
Abhinav verma
Abhinav verma   |     |   Comment #20

Anonymous   |     |   Comment #21
On some of my bank transfers are designations such as OMAD:XXXXXXXXXXXXXXXXXXXXX or IMAD:XXXXXXXXXXXXXXXXXXXXX and the desination IM. What are these used to desinate?
Anonymous   |     |   Comment #28
How do you find what the money went for?
Anonymous   |     |   Comment #29
We recently had a situation where a company presented an ACH payment to our bank and the bank paid it.  However, we have never done business with that company - have no policy - have never authorized an ACH.  I don't know if it was a transaction error (maybe someone transposed a number in the account) or a direct attempt to defraud.  t was Progressive Casualty Insurance.  However, now Bank of American says they have to "investigate" it before they can return our money.  To make it even worse, there is another bank involved.  Chase Bank is the bank for Progressive Casualty. The gave the money out immediately - but it looks like it may take 7-10 days to get it back into our account.  This does not seem legal to me.  Even worse, the lady at Bank America informed us "that anyone can set up an ACH withdrawal from your bank account.  All they need is the routing number and your bank account."  Which by the way - is printed on all of your paper checks!
Anonymous   |     |   Comment #42
Read my comment below! Something similar recently happened to my 80 year old mother. If the bank account number and routing number is truly all it takes, and no one verifies that policy holders and account holders "match," then Progressive and other companies who do business like they are complicit in fraud.
Confused   |     |   Comment #272
This just happened to me. Money was taking from my CU account and sent to a Wells Fargo business kaccount (online ACH). The only thing is that the CU contacted the Federal Reserves (FR). On the FR printout it clearly shows who did it. I also called the police and got a case number but the CU still making me wait 10 days. I’m on disability and this is causing my mortgage to be late, which will cause me to have to pay a late fee. It’s my money!!! Is there any thing I can do to get my money back faster?
skibum1   |     |   Comment #37
No one answers the question. "while an ACH holds funds is there interest on those funds?"
i.e.  My 401 K is paid monthly, and always held for up to 7 days. The 401 company provides documentation that they sent the funds to my account via an ACH.  6 days later the funds are given to me. Where the hell has MY money been for SIX days??? Why any hold WHO PROFITS FROM THE "HOLD" ????  
Anonymous   |     |   Comment #38
When in doubt read the contract(s)!  Normally, money accrues interest until it is in your control but when is that?  Did you select the transmission method?  If so, then that may be deemed your risk.  Otherwise it may be their transmission method and their risk.  But, where the funds merely held in your account for seven days?  If so, then it could be argued you had control seven days earlier.
Anonymous   |     |   Comment #39
My ACH was denied to a pretty paid card Santa Barbra notified me of mailing me a check to my Ohio address nothing how long mail take care to Ohio?
paoli2   |     |   Comment #40
We are with a new bank now which has a Bill Pay program connected to our new checking account with them.  I did not like the idea that each month I had to go into the account and put the amounts to be autopaid out of the checking account.  I prefer that all the bills be autopaid from our credit card so we would not have to be responsible for any changes of the amounts for some bills.  We already have some regular bills autopaid from our credit card and it has always worked well for us.  I will still check online to make sure they are being paid on time but that is basically the only involvement I will have other than making sure we keep enough funds in their checking account to pay out the credit card each month which will be autopaid from the checking account as it is already with the checking we have been using with another bank which we will be changing soon.
Anonymous   |     |   Comment #41
My mother's bank account had Progressive Insurance payments taken out of it for several months. Progressive claims that it had no way of knowing Mom's account was not that of the person who took out the insurance, as the policy was purchased online. Can that truly be possible? I have contacted the police, but despair of getting my mother's money back. Can someone give me the lingo I need to use when speaking with this "customer service specialists"? We stopped the payments at the bank level; Progressive has refused to even flag or cancel the policy, claiming they have no way of knowing the bank account is not that of the policy holder (a young male, I would say, by the high cost of the insurance).
Anonymous   |     |   Comment #43
The insurance commissioner would be interested in knowing systemic issues like this, i.e. why is the State ins comm allowing this to happen.  I would first suggest talking to the ins company, give them x days to reverse the transactions or you are going to the ins comm and/or DA
Anonymous   |     |   Comment #44
Thanks for your recommendation. I will start the complaint process today.
Anonymous   |     |   Comment #70
What happened?
Anonymous   |     |   Comment #69
Does anyone know if a loan has sent a ach transaction to my account on Friday afternoon when it will show in my bank account? Its Sunday and nothing is showing not even pending.
Anonymous   |     |   Comment #74
How do resolve a situation where a company (AT&T) says they did not receive my payment..but my bank says it paid AT&T through ACH electronic debit from my check AT&T sent it?
Anonymous   |     |   Comment #75
Ask your bank to solve their problem when purportedly their payment was "diverted." Please update as to what happens. Give them a short time and then complain to regulatory agencies
Anonymous   |     |   Comment #79
What I don't understand is why financial institutions place a maximum limit on the amount of money that can be transferred by ACH at any one time or even per month. As long as the funds are available, what's the problem?
Anonymous   |     |   Comment #80
Anything over 10k must be reported to feds
Anonymous   |     |   Comment #81
That doesn't explain the limit on maximum amount of an ACH transfer. Some banks have a limit as low as 2K. Also, it is only CASH transactions, not electronic transfers or paper checks, etc., of 10K or more that must be reported to Feds.
Bill A.
Bill A.   |     |   Comment #186
When I went to close a MM account, I discovered a $5k max transfer per day. P'ah. Alternative was a paper check. When I called to ask some questions, the bank offered a one-time transfer that was set to the account balance. May be an option for you if this happens again?
mts   |     |   Comment #86
we're recieving a payment from a court via ACH, How long should it take? How long to been seen as pending?
???   |     |   Comment #87
2 / 6 days this being a weekend
Jon Ward
Jon Ward   |     |   Comment #89
You say that the transfer takes 1-3 days. Is that only business days? Since it's all automated, do they count weekends? A client paid my invoice yesterday (Friday) via ACH, and I am trying to understand when the funds will be in my account.
Jon Ward
Jon Ward   |     |   Comment #90
Do weekends count in the 1-3 day transfer time? A client paid me via ACH yesterday (Friday), and I'm trying to understand when the funds will be in my account.
sai   |     |   Comment #97
I got an auto loan from Nation Wide, they said they ACH transferred the money to the car dealership . How much time does the ACH transfer takes to go to the car dealers account?
Ronald Salt
Ronald Salt   |     |   Comment #119
what to do if your bank or financial institution puts your money in a pending account rather than your checking account as an example and holds on to it for days?
Federal Retiree
Federal Retiree   |     |   Comment #120
So if the Federal Annunity is deposited on the 1st of each month then why if it is deposited on a Saturday does the credit union & banks not post it until the following Monday???
Melinann   |     |   Comment #163
How can I check a ACH transfer to me online?
Melinann   |     |   Comment #164
How can I see a ACH transfer made to me?
king305   |     |   Comment #166
I have question i closed an account years ago. and i have a new bank account and i download the app but i already had the old bank as an external account but its still aloowing me to do ach transfer and the account supposed to be close how is that possible
ACH   |     |   Comment #167
Hello! I have an issue, I had a Chase account that was compromised.
unfortunately someone use that account with my PayPal and accomplish 822.87 dollars transaction.
So this happen as ACH.
The account where the money was taken off is closed, Not PayPal needs place to send the money and the bank does not have anywhere to send it. Who can help me? I spent 11 phone calls and they both washed their hands! whose responsibility is it?
Emil Emil
Emil Emil   |     |   Comment #168
Perhaps I don't fully understand your problem, but it sounds like you should open up a new account and have PayPal send the money there?

Paypal is a major target for scammers and hackers. It's not a good idea to link your PayPal account to the account where you keep your money for food, rent, and other important expenses. It's also not a good idea to link it to the account where you keep your life savings or retirement savings.
Anonymous   |     |   Comment #170
I don't feel it should take 3 or more days for a online lending company to ÀCH money to my bank .very uneasy feeling .should it take that long.(King of Kash) to Wells Fargo.
Anonymous   |     |   Comment #171
How many ach accounts can u have going into a personal checking account? Is there a limit for instance you can only have 3 payday loans open at one time.
Coffinfiller42   |     |   Comment #175
If it says choose ACH transaction to get money from my coinbase wallet does that mean direct deposit onto my current bank card or account will work and I can sell my Bitcoin cash and direct deposit it to my account?? Anybody please advise please please please thank you thank you thank you please please please
darren   |     |   Comment #176
what keeps someone from changing the amount of the ACH after you have written a check? Such as if I wrote a company a check for $95.00 what keeps them from entering the ach as $250.00?? And if they did how could you prove you wrote the hard copy check for only $95.00
Ben   |     |   Comment #180
I need advice on how to retrieve my money $877/- lost with a jewellery company in New York in 2014. They say they have been defrauded by ACH transfers that have been reversed. They won’t send the jewelry either.
They are asking me to reverse or ask First Premier bank to send a letter why they cannot reverse the ACH transfer. Neither First Premier or the intermediary used by Orbit Remit money transfer company (from Newzealand ) are doing that.
So I am stuck for the past 3 years
Any comments or advice on how to retrieve the money will be appreciated.
Virtual Inquiry
Virtual Inquiry   |     |   Comment #183
We receive funds via ACH with little to no identifiers. How do I trace back to where the ACH came from?
Bill A.
Bill A.   |     |   Comment #187
I think there's a few typos in the pull/push hub account example.

2) Make sure that your hub account has the ability to” push” (deposit) **and** “pull” (withdraw) money from multiple external accounts with no transfer fees.

Friday: You schedule a $500 transfer from one bank (Point A) to your hub account (Point B). You begin earning interest in your hub account on Friday, but nothing has happened at the bank yet.

Monday: $500 is withdrawn from one bank (Point A).

Thursday: $500 is available to **push** from your hub account (Point B). Now, you schedule a transfer **to** a second bank (Point C), and $500 is debited from your hub account.

Friday: $500 is available at the second bank (Point C).
Mike Lyndell
Mike Lyndell   |     |   Comment #190
This website needs a left margin.
Clay   |     |   Comment #192
Does anyone know how long it takes to show an ACH deposit pending in your account
corvette928   |     |   Comment #197
I have an automatic payment authorized for the 16th of the month but they took it out of my account on the 14th because the 16th fell on the weekend, can they do that ?
Giome   |     |   Comment #206
How do you receive ach or amt
Crete   |     |   Comment #210
Can a credit union ban you from using their website to make payments on a loan?
[email protected]   |     |   Comment #214
I already have a account with America first credit union. Can that be used. But I need something to hit now and I can wait for more later. But I'm like about $500 in THE hole with that account so I need something now and like I said I can wait for the rest latee
Shade   |     |   Comment #215
Get a HELOC quick money pay back slowly
Perturbed   |     |   Comment #217
What recourse do I have if I initiated an ACH transfer on Wed Jan 30th $1541 and I initiated another one on Friday Feb 1st $500. The one on Friday 1st arrived at the receiving account. The transaction that was initiated on the 30th still has not arrived. They were both being sent to the same receiving account. No one at the sending bank can tell me what happened or when I will receive my money.
Concerned   |     |   Comment #229
Who is responsible if a merchant does not "pull" the payment as planned? I set up payment by ACH with my condo association many years ago. Payments have occurred without error for years. Six months ago, they stopped pulling the payment from my credit union account. I have always had sufficient funds available. They never notified me of an issue and I did not notice either until they hired a law firm to send a lien notice claiming non-payment of my condo fees. They are also charging me late fees and collection fees. My credit union feels the error was on their end. I offered to pay the condo fees but feel I am not obligated to pay the other fees. Their law firm says otherwise.

Do I have any recourse? I feel I may have to get a lawyer to fight this.
Teresa   |     |   Comment #236
Can someone take money out of my account by doing an ach external transfer
Nothing   |     |   Comment #237
Yes! Happens all the time.
Y??   |     |   Comment #256
I know this is a rather old subject, but this very think just happened to me this past June.

An ACH transfer was made from my CU savings account by a stranger. Money pulled from my account and transferred to another account in a financial institution which I have no dealings with.

I caught it when my June statement arrived in the first week of July. I immediately notified my CU of the error and had to sign a document stating I had not authorized the transfer. And a correction was later made to my account with a credit for the transferred amount. All ended well on my end.
Dunmovin   |     |   Comment #257
Are you still a customer and/or what did they do to ensure it doesn’t happen again? I’d consider notifying their auditor and NCUA
Y??   |     |   Comment #258
Yes, I'm still with that same credit union being the issue was resolved quickly with little effort on my part. And it was only the first problem I have had with them in the 46 years that I have been a member.

From the document I signed, I believe mistaken and fraudulent ACH transfers are reported and thoroughly investigated.
Dunmovin   |     |   Comment #259
46 years ago we didn’t have this have my free pass and no after the fact cure-all. There is no clear basis for them to state how it wasn’t you or someone who obtained password, etc. from you. They were “just nice” to a 46 year customer but could have a systematic problem. Have fun
Y??   |     |   Comment #260
"They were “just nice” to a 46 year customer but could have a systematic problem." I seriously doubt that.

There are many ways ACH transfers can be messed up due to human error. Not all business transactions are done online. Some are still inputted directly by CRs.

'nough said.
jjc   |     |   Comment #240
i did an external transfer on the 30th its appearing on my current balance
Andilee3   |     |   Comment #253
what if a payment was attempted with wrong bank account number and still submitted causing payment to clear with recipient then removed pulled away from recipient causing a late month, insufficient and attorney fees. So basically this was for my balance of property taxes, I paid with ACH one time payment, error in bank account information, and submitted transition anyway.
Lyn   |     |   Comment #261
I paid my homeowners insurance with A bank transfer. I was buying a house and they wanted that immediately. So I stayed in the insurance office almost 2 hours till we were finished. I had 2 separate receipts because I agreed to add flood insurance for another $394. One of the receipts said Gov. Tracking at the top the other did not. One of them said confirmed, the other did not. This was almost $2,000. A week and a half later I found an E-mail I hadn,t even noticed saying my homeowners ins. Had been cancelled due to non-payment. I went straight to the bank and they said they must have crossed wires. I didn,t understand and went to the insurance company. They said it was the banks mistake. Then the bank told me the insurance company just never took it out. I know it was my fault for not keeping a running total. So I had to pay this twice, I think. The bank told me after I requested that they transfer 3600 dollars to TD Ameritrade that they had done it and the account was funded. I went to use the account a month later and it was empty. I had pretty much everything left in my account 6 or 7,000 in 2 months and had no idea what to do about it. It,s been almost 7 months now and I have saved every bit of paperwork but I had no idea what to do.
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MoneyTalks   |     |   Comment #269
When the ACH Transaction is received but it is REJECTED because it contains the incorrect banking information who is responsible to contact the Customer to receive the proper banking information? 1. Treasury
2. Cash Applications Department
3. Collections Department?
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Frusttated   |     |   Comment #275
Why does envision take so long to send a transfer to a regular bank. Already 3 days
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cindy   |     |   Comment #281
I have a question that I cant find the answer anywhere. I gave a business my checking account information over the phone in April and the money is still in my checking account.It has been over 6 months and I want to know if there is a time limit for the business to take out the money. When a business writes a check it is good for 60 days or 90 days. thanks

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