ACH Payment: What It Is and How It Works

What is the ACH?

The Automated Clearing House system is a nationwide network through which banks and credit unions send and receive electronic payments. Consumers and businesses, working with banks, initiate and receive ACH payments through the ACH network.

What is an ACH payment?

An ACH payment is an electronic transfer of funds between two banks through the ACH network. The network’s two national operators are the Federal Reserve banks and the Electronic Payments Network. The National Automated Clearing House Association (Nacha) governs the ACH network, developing rules and standards.

Through banks and credit unions that access the ACH network, consumers and businesses can send and receive ACH payments. Two primary purposes for ACH payments include:

Direct deposit. Employers use ACH payments to deposit wages into employees’ bank accounts. Direct deposit is one of the most common uses of ACH payments, with 93% of American workers receiving their paychecks this way.
Bill payments. Consumers authorize utilities, phone companies and others to withdraw funds directly from their bank accounts to pay bills.

How do ACH payments work?

ACH payments are entirely electronic and work either as a direct deposit or a direct payment — a credit or a debit, respectively.

The two sides of ACH payments are the originator and the receiver. Consumers and businesses can be on both sides, as can banks and credit unions.

The originator — a business, for example — initiates an ACH debit through the business’s bank after the receiver — say, a consumer — authorizes and gives instructions for the debit. The originator’s bank sends digital payment files to the ACH network, which passes those files to the receiving bank. That bank then debits the consumer’s account as instructed.

ACH credits and debits are also called push and pull payments. Push payments send money, and pull payments collect it. Most payment networks can only push or pull, but the ACH network can do both as needed.

Types of ACH payments

The two types of ACH transfers are ACH credits and ACH debits. Here’s more about both types.

ACH credit

An ACH credit is also known as a push transaction. This means that the person making the payment pushes the money from their account to another account via the ACH network.

Paychecks are often deposited as ACH credits, or direct deposits. Other examples of ACH credits are government benefits, refunds, or withdrawals from payment apps such as Venmo.

ACH debit

An ACH debit pulls funds in, allowing a withdrawal. ACH debits are often used for recurring payments, such as utility bills and subscription services. You can also use ACH for a one-time payment.

How to make an ACH payment

Whether you want to pay a bill or receive your paycheck as a direct deposit, the ACH payment process is similar.

In either case, you’ll be on the receiver side. The business that will be debiting your account or making a direct deposit into it will be on the originator side.

Here’s what you’ll need for the ACH payment:

The name of the bank or credit union receiving the money
The routing number of the bank or credit union
The person or company’s bank account number
The type of account — checking or savings

ACH payment vs. wire transfer

An ACH payment and a wire transfer are both ways of electronically transferring money, but each works differently and varies in speed and cost. Knowing the differences between the two can be helpful if you get a choice between them — though you ultimately may not.

ACH vs wire transfer: key differences
	ACH	Wire
Transaction type	Making routine payments, accepting direct deposits, sending money through peer-to-peer apps	Closing on real estate, buying a car from a private seller, sending money overseas
Destination	Domestic and international	Domestic and international
Speed	Typically one to three business days	Often within the same business day but up to five business days for an international wire
Cost	Usually free	Domestic wire fees range from $20 to $35 and international wire fees may be $35 to $50; income wire fees may be $0 to $16
Transaction limit	Up to $1 million per day	Varies by provider and tends to be high
Fraud risk	Typically more secure for senders	Higher fraud risk
Reversal	Ability to stop or reverse	Usually irreversible

What are ACH payment processing times?

Nacha estimates that 80% of ACH payments settle in one banking day or less. However, the two types of ACH payments — ACH debits and ACH credits — often have different processing times.

ACH credits make up a little less than 50% of ACH payments, according to Nacha, and most settle in one business day. Debits account for a little more than 50% of ACH payments, and those are settled either the same day or the next business day.

Many ACH payments are credited the same day, but you’re not guaranteed to receive your money the same day. A weekend or a holiday, for example, may delay the credit.

Many banks and credit unions offer same-day ACH payments. This allows your transactions to post on the same day they’re authorized for an additional fee.

How much are ACH transfer fees?

ACH transfers are typically free for most consumers but may cost just a few dollars if there is a charge. You may pay extra to make a same-day transfer.

Banks often charge their business customers for the use of various ACH payment services, such as direct debits as a payment method.

Pros and cons of ACH payments

ACH payments have advantages and disadvantages compared with other methods of making payments and getting paid. Here are a few:

Pros:

Automated payments. ACH payments can easily be paid automatically on regular intervals through payment processors or online banking platforms.
Lower cost than wires — or none at all. You’ll typically pay a small fee, if you have to pay at all. If you own a business, you’ll pay a small processing fee for each ACH payment.
Secure transactions. ACH payments are safer than checks, which can get lost or fall into the wrong hands. Plus, ACH payments are subject to regulations that protect consumers from unauthorized debits.

Cons:

Transaction limits. Banks may place limits on the number of transfers you can make each month. Check with your bank about restrictions.
Risk of overdrafts. Make sure you have enough money in your account if you’ve set up automatic ACH payments to avoid triggering overdraft and late fees.
Processing delays. A payment may be delayed by a holiday or weekend. Further, ACH might not be fast enough for certain situations, including sending money overseas.

Anonymous | Jul 3, 2012 | 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 | Dec 11, 2013 | Comment #24

Try Chase or US Bank....they both put the ACH payments through immediately.

Anonymous | Dec 26, 2013 | Comment #26

You do need a new bank ... my credit union immediately credits any deposit into my account.

Wildcat | Jul 24, 2018 | 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 | Jan 24, 2014 | Comment #27

If you can qualify for USAA, we get access to our checks the business day before.

Anonymous | Jan 24, 2017 | 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 | Jun 29, 2017 | 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 | Oct 23, 2018 | Comment #201

They hold as long as they can to accrue interest to collect

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Previous Comments

Sort by Date | Sort by Votes

Jerry Mandel | Jan 3, 2011 | 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.

Gary | Jun 3, 2011 | 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 | Dec 30, 2017 | Comment #174

BITCOIN!!!!!

that guy | Dec 20, 2019 | Comment #292

Ethereum, sounds like smart contracts are the way to go here

David | Nov 30, 2011 | 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 | Jan 17, 2012 | 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 | Dec 11, 2013 | 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 | Sep 9, 2019 | 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 | Oct 12, 2019 | 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 | Oct 12, 2019 | Comment #274

Whsat if the transfers are only $300??

JG55 | Dec 13, 2019 | Comment #289

Actually - I don't get the idea. After the $500,000 …. nothing else makes sense

Can you re explain

Michael | Dec 13, 2019 | 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.

Sam | Apr 13, 2020 | 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 | Feb 18, 2012 | 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 | Sep 26, 2017 | 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 | Jul 17, 2012 | 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 | Aug 20, 2012 | 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 | Aug 24, 2012 | Comment #15

Does the bank have to put ACH on pending when it first recieves it for debit of a recurring ACH

Anonymous | Oct 15, 2012 | 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 | Jan 4, 2017 | Comment #76

Gee, do you use an abacus to balance your statements?

GreenDream | Aug 14, 2019 | 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 | Jan 28, 2013 | 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 | Mar 11, 2013 | 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 | Mar 16, 2013 | Comment #20

????????????????

Anonymous | Sep 1, 2013 | 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 | Jan 29, 2014 | Comment #28

How do you find what the money went for?

Anonymous | Mar 25, 2014 | 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 | Mar 16, 2015 | 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 | Oct 11, 2019 | 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 | Dec 8, 2014 | 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 | Dec 8, 2014 | 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.

Lisa K Townsend | Nov 12, 2015 | Comment #51

EXACTLY! That's what I think is going on.

AdultingStinks(sometimes ;) | Apr 21, 2020 | 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~

Anonymous | Feb 10, 2015 | 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 | Feb 12, 2015 | 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 | Mar 16, 2015 | 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 | Mar 16, 2015 | 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 | Mar 17, 2015 | Comment #44

Thanks for your recommendation. I will start the complaint process today.

Anonymous | Dec 5, 2016 | Comment #70

What happened?

Anonymous | Dec 5, 2016 | 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 | Dec 30, 2016 | 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 | Dec 30, 2016 | 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 | Jan 24, 2017 | 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 | Jan 24, 2017 | Comment #80

Anything over 10k must be reported to feds

Anonymous | Jan 24, 2017 | 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. | May 23, 2018 | 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 | Feb 2, 2017 | Comment #86

we're recieving a payment from a court via ACH, How long should it take? How long to been seen as pending?

??? | Feb 2, 2017 | Comment #87

2 / 6 days this being a weekend

Jon Ward | Feb 11, 2017 | 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 | Feb 11, 2017 | 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.

dollarsncents | Feb 11, 2017 | Comment #91

No, weekends and Federal holidays do not count.

sai | Mar 8, 2017 | 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 | Jun 26, 2017 | 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 | Jun 29, 2017 | 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 | Oct 27, 2017 | Comment #163

How can I check a ACH transfer to me online?

Melinann | Oct 27, 2017 | Comment #164

How can I see a ACH transfer made to me?

king305 | Nov 10, 2017 | 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 | Dec 16, 2017 | 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 | Dec 16, 2017 | 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 | Dec 22, 2017 | 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 | Dec 22, 2017 | 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 | Jan 27, 2018 | 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 | Feb 27, 2018 | 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 | Mar 6, 2018 | 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 | Apr 12, 2018 | 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. | May 23, 2018 | 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 | Jul 8, 2018 | Comment #190

This website needs a left margin.

Clay | Aug 1, 2018 | Comment #192

Does anyone know how long it takes to show an ACH deposit pending in your account

corvette928 | Oct 11, 2018 | 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 | Nov 17, 2018 | Comment #206

How do you receive ach or amt

Crete | Jan 17, 2019 | Comment #210

Can a credit union ban you from using their website to make payments on a loan?

[email protected] | Jan 23, 2019 | 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 | Jan 23, 2019 | Comment #215

Get a HELOC quick money pay back slowly

Perturbed | Feb 6, 2019 | 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 | May 4, 2019 | 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 | May 14, 2019 | Comment #236

Can someone take money out of my account by doing an ach external transfer

Nothing | May 14, 2019 | Comment #237

Yes! Happens all the time.

Y?? | Jul 22, 2019 | 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 | Jul 22, 2019 | 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?? | Jul 22, 2019 | 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 | Jul 22, 2019 | 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

Y?? | Jul 22, 2019 | 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 | May 31, 2019 | Comment #240

i did an external transfer on the 30th its appearing on my current balance

Andilee3 | Jul 15, 2019 | 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 | Jul 23, 2019 | 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.

MoneyTalks | Sep 9, 2019 | 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?
4. Onboarding SETUP DEPARTMENT

Frusttated | Oct 16, 2019 | Comment #275

Why does envision take so long to send a transfer to a regular bank. Already 3 days

cindy | Nov 11, 2019 | 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

Dunmovin | Nov 18, 2019 | 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

jjwnov | Dec 3, 2019 | 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.
HELP

Nothing | Dec 3, 2019 | Comment #287

Close the account...but do you really don't want to receive it? Be careful what you wish for

Mookie | Jan 4, 2020 | Comment #296

If processing starts on Friday does the clearing house process Friday night?

R. Lewis | Mar 16, 2020 | Comment #297

I'm talking about how can I find out what bank it's at and do I have to have a account

Jackie | Apr 24, 2020 | Comment #301

How do I file a claim for a missing ach deposit?

Dre | Apr 30, 2020 | Comment #302

Why does my ACH payment show on hold then it disappears with no deposit in my account yet.

gysgtski2004 | Aug 25, 2020 | 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...

Pbpix | Jan 8, 2021 | 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.

Choice | Mar 6, 2021 | 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?
https://pocketsense.com/put-ach-block-hard-hold-checking-account-24184.html

Choice | Mar 21, 2021 | 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

WittleSushi | Nov 5, 2022 | 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?

WittleSushi | Nov 5, 2022 | 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
Password

is this required to do a ACH transfer?

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