Same Day ACH is Here!
Did you know..
Thanks to Same Day ACH, payments are moving much faster. Payments that once took up to three days will now be completed in just hours!
What does this mean?
You don’t have to worry about your funds getting tied up. No more watching your account wondering when that transaction is going to post. Now that we have Same Day ACH our “Pending” ACH transaction time can be shortened to just a few hours.
It is important to understand that this also means the cushion of time between an ACH originating and processing will be gone. You will want to make sure you carefully monitor your account balances to ensure you have the funds available to cover the transaction at all times.
What is an ACH Transaction?
Automatic Clearing House ( ACH) is a way to move money paperless. This happens when you move money by providing your account number and your financial institution’s routing and transit number. Also any transaction that requires a voided check to initiate a payment.
Some ACH transfers include : direct deposit, payroll and vendor payments, payments where a store scans your check
What Do You Need to Do?
All you have to do is get in the habit of reconciling your balances daily.