Question by d man: What is an ACH payment?
I am wanting to set up a high and free checking account and one of the monthly requirements is to have at least one direct deposit or ACH payment. What is an example of an ACH payment. Would a payment like netflix be considered an ACH payment.
Best answer:
Answer by doreen k
If you arrange for your Netflix monthly subscription fee to be automatically debited from your checking account, then that would be an ACH (Automated Clearing House) payment if you set it up that way. If you instead provided your debit card number, then that would NOT be an ACH payment.
ACH payments can be used for things like automatic payments to insurance companies, utility companies, etc. When you make these arrangements, just be sure to request an ACH or automatic checking account payment, using your routing and transit number and full account number (as it might appear on the bottom of your checks, assuming you have paper checks printed for your checking account). Again, do NOT provide your debit card number, as that would not be an ACH payment.
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Question by Kin: Question about ACH payment?
Im supposed to get an ACH payment, the payroll said they sent it out this morning and may take a day or two. So funds should be available saturday morning?
Best answer:
Answer by cainvest1
ACH payments only settle Monday through Friday at most banks. If they sent it today as a payroll day-cycle item it will credit your account tomorrow. If it was sent as a normal night cycle payroll item you will receive credit on Monday.
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Question by gdavison: How long does an ach payment take to clear your bank account?
I payed HSBC and their records showed $ 34.00 was taken out on 08/19/08 but my own bank has not shown the deduction yet. I am pretty sure HSBC got paid because their records show standard payment. I am thinking that my bank took $ 34.00 out of someone else account or they goofed and lost it. Local branch customer service said wait tell Monday.
Update. My bank told me to wait a couple of more days. I am tired of waiting. I did call HSBC, they actually have the money. So, I am wandering if the Federal Reserve lost it or my bank lost it.
Best answer:
Answer by AIDAN’S MOM
HSBC has processed the ACH on there end, you should see it come our of your account in a couple of days. I wouldn’t worry just yet, if it is not out by Monday I would call them and double check what account number they w/d the funds from.. just to verify.
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