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Electronic Payment Process Change

Electronic Payment Process Change

There will be a change coming soon to the way electronic payments (ACH debits) are processed by the Federal Reserve. Starting September 15, 2017, the Federal Reserve will begin processing most ACH debits the same day they are conducted, which means payments could come out of your account faster than before.

Examples of ACH debits could include payments to utility companies, cable companies, fitness club dues, or credit card providers. Some other ACH transactions may also include:

  • Paper checks written to merchants such as grocery stores and other stores may be converted to ACH debits. If so, these checks can clear the same day written.
  • Debit Cards from retailers (such as Walmart and Target) linked to your checking account and using the ACH process. If so, these transactions can also clear the same day written.

Be Prepared!

You can be prepared for this change by knowing your balance: When checking your account online or with our mobile app, your account may show two balances: available and actual. To avoid overdraft or insufficient funds fees, make sure the available balance in your account is enough to cover transactions at the time of payment.

Please contact us if you have any questions.