Questions tagged [ach]

Automated Clearing House

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18
votes
6answers
11k 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 ...
6
votes
1answer
176 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 ...
5
votes
1answer
3k 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 ...
4
votes
3answers
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 ...
3
votes
1answer
228 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 ...
3
votes
2answers
659 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 ...
3
votes
2answers
346 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 ...
3
votes
3answers
12k 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 ...
3
votes
1answer
853 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?
3
votes
2answers
9k 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 ...
3
votes
1answer
209 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 ...
2
votes
2answers
208 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 ...
2
votes
1answer
110 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 ...
2
votes
1answer
67 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
3answers
1k 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 ...
2
votes
1answer
591 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
vote
2answers
433 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 ...
1
vote
2answers
5k 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 ...
1
vote
2answers
173 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 ...
1
vote
2answers
248 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? ...
1
vote
1answer
2k 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 ...
1
vote
2answers
140 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 ...
1
vote
1answer
311 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 ...
1
vote
2answers
156 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 ...
1
vote
1answer
179 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
vote
0answers
73 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 ...
1
vote
0answers
128 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 ...
1
vote
0answers
67 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 ...
1
vote
0answers
107 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?
0
votes
1answer
55 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 ...
0
votes
1answer
84 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 ...
0
votes
1answer
194 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 ...
0
votes
1answer
465 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 ...
0
votes
1answer
167 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/...
0
votes
1answer
536 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
votes
1answer
303 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 ...
-1
votes
1answer
176 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)....
-2
votes
1answer
271 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 ...