IMPORTANT INFO: Same-Day ACH Posting Effective 9/15

Changes in the rules for Automated Clearing House (ACH) credits and debits are taking effect as of September 15, 2017.  Due to these changes, all ACH credits and debits, online bill payments, checks that are converted to ACH, and ACH authorized payments through ACH are now eligible to be processed on the same day that they are originated.  This will speed up the payment system, which has great benefit when you are receiving a payment but also means that when you are making a payment, it will now clear sooner. 

What this means to you:

  • Many merchants and billing companies can now offer you the option to make a same-day electronic payment or funds transfer. This will allow you to make same-day payments completed from start to finish on a single business day.
  • Bill payments made online or over the phone through a call center may be completed on the same business day.
  • Pre-authorized payments may also process on the same day. 
  • Companies can accept and convert checks that settle on a single business day.

Things to consider:

  • When paying bills online, please be aware of the effective date of any ACH transactions. If you go online to make a bill payment, it could clear the same day. It is important for you to ensure the funds are available to cover the charges.
  • If you verify funds and transfer funds to cover an ACH in the morning, you need to consider that additional transactions could post later in the day.
  • If you are completing any type of ACH authorization for payment, it can clear the same day.

Enrolling in our Online Banking and Mobile Banking solutions can help you manage and monitor your accounts more easily. Find out more about these convenient services at unibank.com.

Questions? Call us at 800-578-4270 or visit your local branch.