Questions tagged [ach]
Automated Clearing House
47
questions
19
votes
5
answers
6k
views
Why are wire transfers not reversible by the bank?
ACH payments and credit card payments are both forms of electronic payments. Because of this, reversing a payment is usually as straight forward as calling your bank. However, this does not seem to be ...
- 1,060
0
votes
2
answers
90
views
Does using Express ACH for fee makes sense?
nacha.org has started same day ACH. There are some banks and other institutions are starting to use it. On some banks I have seen a message as shown below
Express Transfer: Your transaction qualifies ...
- 1,012
0
votes
2
answers
161
views
ACH Direct Debit Blocking (fraud protection, security)
How can I setup a bank account in the US that can receive ACH credits but block all ACH debits?
I have a bank account for my business that has an ACH routing and account number, so that my customers ...
- 198
0
votes
0
answers
103
views
I can't seem to make a payment out of my bank account. What can I do?
I am an expat living overseas. But I still make several purchase using my US credit card (Citi Card). Recently my electronic credit card payment (for my monthly bill) was returned with a code saying ...
- 143
-1
votes
1
answer
96
views
Where do I submit an ACH file in my application code?
i have 2 bank accounts Gobank and TD bank.
i need to Debit Gobank and Credit TD bank via ACH.
okay i understand the part where i collect information for each bank but where do i submit the information?...
1
vote
1
answer
146
views
How does a credit card company receive credit card bill payments? [closed]
If I make a payment to my credit card, how does that transaction actually happen behind the scenes?
Does money from my checking account get transferred into the credit card issuer's checking account?
...
- 113
31
votes
2
answers
6k
views
Why is my bank unable to track a direct transfer I made to another (fraudulent) account?
I was the victim of a scam. The scammer posed as a person I wanted to do business with, and I was tricked into sending money from my bank account to another bank account using an account number and ...
- 411
1
vote
0
answers
84
views
Why ACH is still slow even after 3 phases by nacha
per nacha , USA banks are suppose to be processing ACH fast, but I have not seen any improvement in ACH with either brokerage or bank accounts since year 2003.
What is the reason for no visible change ...
- 1,012
6
votes
2
answers
869
views
Why are ACH transfers typically free, while wire transfers cost money?
I read on finance.umich.edu:
A wire is a real-time method of transferring immediate funds and supporting information between two financial institutions and is relatively expensive to use. An ACH is ...
- 11.1k
1
vote
2
answers
313
views
Why can one pay with ACH but not with checks from a savings account?
I have a payment I have to make four times a year. (well within Regulation D limits)
The payee only accepts checks, and they sit on the checks for a random amount of time between 1 and 6 weeks before ...
- 11
1
vote
0
answers
401
views
ACH transfer to incorrect account type ('Savings' instead of 'Checking') - US bank to another US bank: Is it lost?
A friend visiting the US was asked to transfer $2000 for rent payment to a US bank account.
On February 12th, while doing an ACH transfer from his US bank account to the landlord's account in another ...
- 111
1
vote
1
answer
286
views
How do Money Service Businesses (cheque cashing places, Money Tree, etc) actually cash cheques?
I understand a paper cheque ("check" en-US) is essentially a type of legally enforceable contract.
The writing on the cheque essentially says: "I, Mr. Moneybags will pay £500 to Mr. John Smith. I ...
- 1,797
1
vote
1
answer
9k
views
How does ACH Deposit work (USA) - account holder name mismatch?
I would have a question related to ACH deposit where payment processor behind the website (i think it is Stripe processor) request, in Banking part of webpage section, only account number and routing ...
- 47
1
vote
2
answers
2k
views
Initiated transfer from bank A to B. Stuck in limbo? How do ACH transfers work exactly?
I scheduled a $250 dollar transfer from bank A to bank B. When I look at my transfer activities on bank A's website. I show that the transfer processed on June 4th. However, the amount was never ...
- 45
1
vote
2
answers
451
views
Multiple day ACH transfer - is there a day when neither bank is paying interest?
If I transfer money from my account at bank A to my account at bank B, using a free multi-day ACH transfer, is it common that I would not be paid daily interest for the balance while the transfer ...
- 309
0
votes
1
answer
533
views
What is the settlement date for ACH?
DTCC requires that equities, municipal debt securities, corporate debt securities, and CDs settle T+2 and US Treasury & Agency debt securities settle T+1.
Is there any strict settlement date for ...
- 713
3
votes
1
answer
250
views
Paid off a US Bank credit card, but they sent two withdrawals - bank account overdrawn
I paid off a US Bank credit card on Friday (~$5000) and today in the morning I woke up to an empty bank account because they made two withdrawals, both for the same exact amount.
I talked to US Bank ...
- 33
0
votes
1
answer
64
views
Late estimated quarterly payment because state failed to act on ACH authorization
In October I submitted payment for Q3 taxes to PA and received a confirmation number for my payment. But they failed to act on that authorization until January, when they must have noticed it at the ...
- 101
1
vote
0
answers
271
views
Rejected ACH due to bad account number
I set up all my bills to pay thru ACH. They all go thru for the most part. However, I had 2 separate situations where my water bill got rejected. It would go thru one month and for some reason not go ...
- 11
3
votes
1
answer
151
views
Can I Report The Recipient of an ACH Transfer?
I made an ACH transfer through a business account. I willingly transferred the money.
Later on, I discovered that they were a scam. I had to hold liability for the money I transferred.
But, the ...
- 131
3
votes
1
answer
247
views
Why do we need ACH? [closed]
What does ACH do that banks can't do? As far as I understood, the main feature is batch processing.
My understanding of the process:
Each bank transfers payment information to ACH.
ACH performs the ...
- 891
-1
votes
1
answer
186
views
How to cash ACH vouchers to my French account without paying more banking fees than sending a postal package containing cash?
I worked for a company based in the United States as part of a non-commercial activity (I mean the income is not taxable to the IRS and thus I can’t get an itin or ssn in order to open a bank account)....
- 148
1
vote
2
answers
213
views
Alternatives to checks for rental payments. Bank account transfer
I have a tenant who would prefer not to write and mail checks each month,
and I'd rather not have to cash them.
What are the options for "bill pay" like electronic checks/ACH services between ...
- 2,490
1
vote
0
answers
74
views
Company has not processed ACH payment
I recently bought a car that I paid for using an ACH over 3 months ago. Yet, the money has still not left my account. Could it be that they just forgot to accept the payment? I have been in touch with ...
- 111
1
vote
2
answers
7k
views
ACH credit from unknown source
So I received an ACH credit of about $100 in my Chase current account from a source I do not recognize. The transaction description includes "REGMANGR1 6873 CCD+"
I called Chase, and the rep told me ...
- 171
2
votes
2
answers
1k
views
Will direct debit end automatically when loan is paid
If a loan is paid automatically each month through direct debit, will the direct debit stop when the loan reaches zero or will money continue to be withdrawn until the person paying the loan stops the ...
- 1,655
1
vote
0
answers
118
views
what constitutes a 24 hour period for ACH transfers?
My bank limits me to a 50K ACH transfer in a day. Is a day 24 hours from the time I scheduled the transfer? Or from the time of the scheduled delivery?
- 11
3
votes
2
answers
10k
views
What does the ACH return code R34 mean?
I'm attempting to settle a debt using a valid bank account via a typical online form provided by a financial services institution. The financial services institution has apparently accepted and ...
- 31
0
votes
1
answer
184
views
ACH File Transmission [closed]
Is there any desktop software, either web based or desktop based, to transmit ACH File request to the financial institution? I saw some ACH File creation applications but cannot find any transmission/...
- 1
18
votes
6
answers
12k
views
Scheduling bill payments exactly on pay day - dangerous risk of overdraft?
Every payday, my pay is deposited into my Citibank checking account by ACH transfer. Before pay day there is close to $0 in my checking account, as most of it is transferred to savings.
Usually in ...
- 409
2
votes
1
answer
77
views
ACH vs Mailed Checks in the context of Overpayment
I have not been successfully able to get a clarifying answer from my mortgage company on this issue, so I was wondering if anyone here knew.
If I am overpaying my mortgage, by let's say $100 per ...
2
votes
4
answers
2k
views
How to move money between U.S and non-U.S bank accounts?
In the U.S, whenever I want to move money between my U.S bank accounts, I simply link them once using their respective routing and account numbers, and then initiate ACH transactions between them ...
- 3,100
1
vote
2
answers
651
views
If a bank has a transfer limit, what happens if another bank pushes/pulls more than that?
If bank B has a transfer limit of $N, whereas bank A has a transfer limit that is higher, what happens if bank A attempts to withdraw from an account in bank B more than > $N in one transaction?
...
- 3,359
5
votes
2
answers
486
views
Is there a bank account that allows ACH deposits but not ACH withdrawals?
I worry sometimes about fraud and/or unscrupulous people getting a hold of my bank account numbers, with regards to electronic transactions. I've heard it's very easy for imposters to use ACH to get ...
- 362
3
votes
3
answers
17k
views
Consequences of having an ACH payment declined?
Apart from embarrassment, is there any other consequence to having an ACH transaction declined (like an automatic payment of some sort)?
Is it treated the same as a check bouncing? Does it affect ...
- 1,127
3
votes
1
answer
907
views
ACH Transfer limits
I belong to a Credit Union and they tell me that the maximum amount I can transfer via ACH is $500. That seems very low to me. Is that normal?
0
votes
1
answer
349
views
Where to request ACH Direct DEBIT of funds from MY OWN personal bank account?
Could anyone please explain where and how to request ACH Direct DEBIT of funds from MY OWN personal bank account? The ACH Processors such as nationalach.com are out of the question because they only ...
- 11
1
vote
1
answer
384
views
Is there ACH analogue in Asia?
Wiki says:
Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches.
Is ...
- 549
7
votes
1
answer
271
views
Is it possible to block previously authorized ACH access?
We engaged in business with another company that provides credit card processing service. At the time of signing up for their service we authorized them to use ACH by giving them a void check (a ...
- 295
7
votes
1
answer
8k
views
Are ACH transfers between individuals possible?
All the information I've found on ACH transfers for individuals apply to the scenario in which the individual makes payments to an institution of some kind (usually a business).
But are ACH transfers ...
- 197
3
votes
2
answers
689
views
ACH processing time of day
As I understand it, ACH transactions are not processed when a customer initiates them, but rather batched by the institution and processed at once.
Is there a standardized time of day that the ...
- 1,231
0
votes
1
answer
544
views
Tracking the status of payment
Is it possible to track the true status of a payment right through to crediting the beneficiary account?
If i send a wire payment form my bank account to a beneficiary account at another bank, is it ...
- 1
4
votes
1
answer
784
views
ACH debit blocks/filters on consumer account
Are there any banks which offer ACH debit blocks or filters on consumer (as opposed to business/organization) accounts?
The idea is that, on certain accounts, it would be possible to restrict the ...
- 1,231
1
vote
2
answers
187
views
Free banking transfer every 4 weeks
In an effort to automate my banking life, I'm trying to setup recurring ACH transfers from one bank to another. I need the flexibility to do the transfer every other paycheck (every 4 weeks).
Bank ...
-2
votes
1
answer
302
views
From ACH direct debit to Prepaid card?
I am searching for solution how to be direct debited (ACH) to personal or business bank account where those funds would arrive (deposit) to prepaid card? The solution must meet all three of the ...
- 1
1
vote
1
answer
495
views
Why no "reverse direct deposit" setups?
Every online payment provider I've examined requires the user to link their bank account to their online account:
paypal.com
circle.com
coinbase.com
Especially in the US, this isn't the most secure ...
- 119
4
votes
3
answers
2k
views
Why do (ACH) payments that withdraw or deposit on my bank account require 1+ business days to complete?
Based on this question, I figured that there might be multiple questions for distinct locales. Why do the most common transactions to or from bank accounts in the US require waiting one or more days ...
- 32.6k