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Banking 101: How ACH Transfers Work

Written by Janet Berry-Johnson | Updated on 11/25/2019

Note: This article is part of our Basic Banking series, designed to provide new savers with the key skills to save smarter.

ACH transfers let you send or receive money via your bank accounts. Whether you’re paying bills online, receiving your paycheck via direct deposit or using Venmo to pay back a friend from your checking account, money is moving from one bank account to another via ACH transfer.

ACH transfers are generally available within one to two business days and are facilitated by a payment system called the Automated Clearinghouse system. This electronic funds transfer network is one of the key components of the U.S. banking system.

In this article we will cover:

What is an ACH transfer and how does it work?

An ACH transfer is exactly what it sounds like — a transfer of money between two different U.S. bank accounts. The system eliminates the need for paper checks, and makes funds available relatively quickly. It’s a popular service that streamlines everything from online bill pay to receiving money that’s owed to you.

ACH transfers fall into one of two categories: debit transactions and credit transactions. If, for instance, you put your car payment on auto-pay, you’re participating in a recurring ACH debit transaction where the lender pulls money directly from your bank account on a monthly basis. ACH credit transactions, on the other hand, allow you to receive money from another bank account; like when your employer drops your paycheck into your checking account each pay period.

Not to get too in the weeds with the technical stuff, here’s a glimpse into how an ACH transfer actually works in real life. Let’s pretend you’re paying your student loan using an ACH debit transaction.

  1. After you finalize your online bill payment, your bank logs the transfer and sends payment to an ACH operator. This is the clearing house that settles up these types of transactions.
  2. Your student loan servicer’s bank account is then credited and the transaction is settled, usually within one business day. (FYI, it can take up to two business days to wrap up a credit transaction.)

What are ACH transfers used for?

ACH transfers come in handy for a number of uses, such as:

  • Paying bills
  • Receiving direct deposits from your employer
  • Bank-to-bank transfers

The last one may not be the first thing that comes to mind, but it’s worth your attention. Bank-to-bank transfers are critical for those using online banks. It’s the primary way of making deposits and withdrawals to and from online savings accounts. In other words, you want it to be relatively easy to transfer funds between your online accounts and traditional checking or savings accounts opened at a brick-and-mortar bank.

But not all online banks are created equal. When opening an online account, be sure to get clarification on how ACH-friendly they are. Do they charge a fee for this service? And how long does it generally take to complete a transfer?

Initiating ACH transfers with an online bank also requires you to connect your external accounts so that you can move money in and out freely, in a process known as linking. You’ll need the bank routing number and account number for the external account you wish to link to your online accounts.

From there, trial deposits are sent to that external account, which you then have to verify. It’s a roundabout way of proving to the internet bank that the external account is indeed yours.

How long does an ACH transfer take?

It depends on whether you’re moving money out of your account or receiving money into it. Debit transactions typically take one business day to settle, while credit transactions generally take one to two business days.

This is because money doesn’t move directly from one account to another. Instead, clearing houses act as the middle men that facilitate transactions. The Clearing House and the Federal Reserve are the two main ACH processors, and they stick to a schedule for processing debit and credit transmissions. Banks follow this schedule, batching up ACH transactions and transmitting them to the clearing houses at prearranged times throughout the business day.

If, say, your ACH transfer comes in right after one of these transmittal period ends, your transaction will be delayed until the next one. Same-day ACH transfers may also be possible, but financial institutions usually charge a fee for this. (More on this in a moment.)

How much does an ACH transfer cost?

It depends on the financial institution, but ACH debit transactions are typically free. You can, however, expect to be hit with a fee if you’re expediting the process and opting for a same-day transfer. Fees and protocols range depending on your bank. For example, First Citizens Bank does not charge extra if you’re receiving a same-day ACH transaction, but does tack on a $1 fee for each transaction you originate.

One other scenario that may cost you is setting up external transfers — such as moving money from one bank account to an account at another bank, which is sometimes called an external transfer. The fee will depend on your bank. U.S. Bank, for instance, says they do charge for outbound external transfers, but doesn’t specify how much. This isn’t necessarily the norm, though: banks like Ally Bank charge nothing for external transfers.

How businesses, government agencies utilize ACH transfers

ACH transfers come in handy if you receive any type of government or Social Security benefits, which can be directly deposited into your checking account. The IRS also uses ACH transfers to dole out income tax refunds.

Many businesses find ACH transfers convenient for a number of reasons. Not only do they streamline the payroll process, making for easy record keeping when paying employees — ACH transfers also make it simple to pay vendors for business-related expenses. No paper, no postage.

On the receiving end, ACH transfers provide customers with a no-fuss option for making payments. This is especially true for those who set up auto-pay: set it, and forget it.

Wire transfers vs. ACH transfers

Both wire transfers and ACH transfers have their pros and cons. Perhaps the greatest advantage of a wire transfer is that funds are available in a matter of hours, and sometimes even sooner. This eliminates the lag time you’ll typically experience with ACH transfers — but they don’t always come cheap. How much you’ll pay depends on your bank, but typical rates range anywhere from $15 to $35.

ACH transfers come with drawbacks of their own. In addition to having to wait one to two days for the transfer to settle, you may also be limited when it comes to how much money you can transfer (this does depend on your financial institution). NACHA, which runs ACH transfers, caps individual transactions at $25,000 per day.

One other restriction has to do with withdrawals from savings accounts. Legally speaking, banks are not allowed to process more than six ACH debit transfers from a single savings account per month, so exceeding this limit may trigger additional fees.

If you’re torn between a wire transfer and an ACH transfer, weigh the advantages and downsides of each before settling on the best one for your situation.

ACH transfer alternatives

ACH transfers make a lot of sense for businesses, consumers and government agencies, but they aren’t the only option. There are a number of alternatives out there that allow you to easily move money to and from other bank accounts; ideal for paying friends and family (or receiving funds from them). These intermediaries are super quick, settling transactions almost in real time.


Many banks — including Chase, Citi and Bank of America — have partnered with Zelle to enable near-instant money transfers, often through the bank’s app. This makes it incredibly easy to pay everyone from the babysitter to the dog walker. Zelle makes the funds available now, then finalizes the transfer later via the ACH network. The kicker is that it’s generally free, unless your bank charges for it.


Chances are you’re already using PayPal. The platform boasts 286 million active accounts worldwide. You accumulate funds in your PayPal digital wallet, and when you’re ready to transfer them out to your bank account, a few quick clicks will start the ACH transfer process.

The funds take one to two business days to become available, but the service is free — though you could opt for same-day availability. PayPal charges a 1 percent fee per transfer up to $10. You can also pay other people and businesses directly from your PayPal wallet. Warning: PayPal does charge for some of its services.

Venmo (owned by PayPal) uses the same idea, but integrates a social feed where users can like and share purchases and payments.

The bottom line on ACH transfers

An ACH transfer is a convenient and relatively quick way to move money from one bank account to another. This streamlines everything from paying bills to receiving your paycheck. There are a lot of options at your fingertips, and not all of them are free, so be sure to do your homework — especially where bank-to-bank transfers are concerned.

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.
  |     |   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
  |     |   Comment #174
that guy
  |     |   Comment #292
Ethereum, sounds like smart contracts are the way to go here
  |     |   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.
  |     |   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
  |     |   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!!
  |     |   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.
  |     |   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
  |     |   Comment #274
Whsat if the transfers are only $300??
  |     |   Comment #289
Actually - I don't get the idea. After the $500,000 …. nothing else makes sense

Can you re explain
  |     |   Comment #290
He's saying that the bank receives the money from the transfers (the 500k) but it isn't available to customers for 2 days because of the settlement time. In that 2 days, the bank draws interest off that money and makes $500 off that interest in 2 days . If the bank has that volume of transfer every day then they are making 3500 a week and 182k a year.

I am not sure that a bank is able to somehow invest unsettled money. However, even if they could, the numbers he is showing are a bit high. To make 500 in 2 days off of 500k, the returns would be 18.25% per year, which is simply not possible. If the bank could make 2% off that money, then it would be about $55 a day or 20k a year.
  |     |   Comment #298
that's part of why this economic bubble burst .Too much debt.Everything invested get's leveraged up.Big Banks borrow against each other instantly. The virus is only the pin that burst the debt bubble but the bubble was inflating ready to burst since Feb 2018. FED has propped it up with free printed money.Now today, it's QE for infinity.. print 2 trillion a month and give it out to the other world banks INSANE!!! Watch inflation soar any month now.
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?
  |     |   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.
  |     |   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 
  |     |   Comment #24
Try Chase or US Bank....they both put the ACH payments through immediately.
  |     |   Comment #26
You do need a new bank ... my credit union immediately credits any deposit into my account.
  |     |   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
  |     |   Comment #27
If you can qualify for USAA, we get access to our checks the business day before.
  |     |   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
  |     |   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
  |     |   Comment #201
They hold as long as they can to accrue interest to collect
  |     |   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.
  |     |   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.
  |     |   Comment #15
Does the bank have to put ACH on pending when it first recieves it for debit of a recurring ACH
  |     |   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
  |     |   Comment #76
Gee, do you use an abacus to balance your statements?
  |     |   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.
  |     |   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!
  |     |   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
  |     |   Comment #20

  |     |   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?
  |     |   Comment #28
How do you find what the money went for?
  |     |   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!
  |     |   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.
  |     |   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?
  |     |   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" ????  
  |     |   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.
AdultingStinks(sometimes ;)
  |     |   Comment #300
The Bank or CU Receiving the Funds Gets The PROFIT...In Terms of Interest Accrual on their Hold Accounts.
That's how they make $ (besides fees/loan interest)-especially the better Bank's & CU's who are not charging hardly Any Fees. These places are able to make a profit & be in business (to provide more affordable banking) from the Interest they Accrue on our $ in accounts @ their Institution-on Hold or Not.
~As I Understand It Anyways~
  |     |   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?
  |     |   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.
  |     |   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).
  |     |   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
  |     |   Comment #44
Thanks for your recommendation. I will start the complaint process today.
  |     |   Comment #70
What happened?
  |     |   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.
  |     |   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?
  |     |   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
  |     |   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?
  |     |   Comment #80
Anything over 10k must be reported to feds
  |     |   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.
  |     |   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?
  |     |   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
  |     |   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
  |     |   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.
  |     |   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
  |     |   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
  |     |   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???
  |     |   Comment #163
How can I check a ACH transfer to me online?
  |     |   Comment #164
How can I see a ACH transfer made to me?
  |     |   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
  |     |   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
  |     |   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.
  |     |   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.
  |     |   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.
  |     |   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
  |     |   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
  |     |   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
  |     |   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.
  |     |   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
  |     |   Comment #190
This website needs a left margin.
  |     |   Comment #192
Does anyone know how long it takes to show an ACH deposit pending in your account
  |     |   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 ?
  |     |   Comment #206
How do you receive ach or amt
  |     |   Comment #210
Can a credit union ban you from using their website to make payments on a loan?
  |     |   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
  |     |   Comment #215
Get a HELOC quick money pay back slowly
  |     |   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.
  |     |   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.
  |     |   Comment #236
Can someone take money out of my account by doing an ach external transfer
  |     |   Comment #237
Yes! Happens all the time.
  |     |   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.
  |     |   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
  |     |   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.
  |     |   Comment #259
46 years ago we didn’t have this issue...you have my thoughts...no 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
  |     |   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.
  |     |   Comment #240
i did an external transfer on the 30th its appearing on my current balance
  |     |   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.
  |     |   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.
  |     |   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?
  |     |   Comment #275
Why does envision take so long to send a transfer to a regular bank. Already 3 days
  |     |   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
  |     |   Comment #284
Tell them you plan to change your acct numbers and if they have any bills that will get their attention. As long as your acct is open they can “play” with it
  |     |   Comment #286
How do I go about stopping an ACH deposit (from SSA) which is already pending, from being deposited into my already negative checking account. I talked to the bank and they are not helping. Talked to SSECURITY and there is nothing they can do, either. There has to be a way.
  |     |   Comment #287
Close the account...but do you really don't want to receive it? Be careful what you wish for
  |     |   Comment #296
If processing starts on Friday does the clearing house process Friday night?
R. Lewis
  |     |   Comment #297
I'm talking about how can I find out what bank it's at and do I have to have a account
  |     |   Comment #301
How do I file a claim for a missing ach deposit?
  |     |   Comment #302
Why does my ACH payment show on hold then it disappears with no deposit in my account yet.
  |     |   Comment #304
So when my payroll check comes in. I usually go to my bank (Bank of America), and use their ATM machine to do my deposit; just like I did on 6 Aug., 2020. Than the money was done by the next day. But this time it says that it will be done on the morning of the 29 Aug. why 9 days...
  |     |   Comment #307
I am puzzled by the 2day transfer delay.
When I transfer from Chase to TIAA ... Chase blames a 2 day delay on ACH. However this is NOT the case at TIAA. As long as I request the transfer before 7pm (weekdays) TiAA states that the transferred funds will be at the receiving bank the next morning.
And this has proven true for me. Every transfer I requested from TIAA to Chase showed up in my Chase account first thing the next morning.
So how can Chase claims all ACH transfers require 2 days but .... But why is that TIAA (I assume using ACH) can get it to Chase next day?
I am very suspicious that Chase is purposely falsely wasting fake transfer time using my funds for their own bottom line.
  |     |   Comment #310
Just read where there is a “debit block” process whereby one can prevent unauthorized entities from debiting your account via ach...some form of filter. Anyone have any knowledge on this?
After the above post I found this article...anyone with practical experience?
  |     |   Comment #311
Confirmed that Navy FCU does not allow one to have a blanket ACH block on checking accounts! Be careful how much $ you have...all the bad guy needs is routing and acct numbers
  |     |   Comment #327
I don't know anything about ACH transfer, but Im currently working (haven't started yet) at a life insurance company. They sent me a check to deposit money to my bank so I can buy equipment, but it hasn't been working and now my boss is asking for my bank information to do an ACH transfer including my password. Is my bank password required to share for the ACH transfer?
  |     |   Comment #328
I don't know anything about ACH transfers, I applied for a job a month ago for life insurance and they sent a check to me to buy the equipment I need to start working by mail and it went through the app but the transaction didn't work and was returned. They then sent me a check by email and I had printed it out and because I was told to and it went through again but was returned. Then the person who interviewed me then told me they were doing a ACH and asked for these information.
Requested information needed
Account number
Routing number
Bank name
Bank address
Name on account
Account type
Online user ID

is this required to do a ACH transfer?

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