Find out about Same-Day ACH Transfers and how they can effect your payments.
Beginning September 15, Same-Day ACH will enable same-day processing of all ACH payments.
What does this mean for you?
ACH payments are all electronic transactions. This means payments made to or from your account will be processed quicker, usually within the same day as the payment or transfer was initiated. Payments or transfers were previously completed by the next day, but will now occur the same day.
This means if you authorize a person or merchant to deduct from your account, the funds can now be released within the same day. It’s important to ensure your funds are in place before authorizing anyone to debit from your account- otherwise an insufficient fund fee may be incurred.
Examples of quicker payments made within the same day:
When paying a merchant by check, some merchants now have the ability to process the check electronically.
When paying a bill online or by phone.
When making purchases online.
When payments are set up to automatically pull from your account.
Know your account balance before making payments
Keep track of your account balances by signing into Online Banking, TCU’s Mobile App (with check deposit), our Automated Member Telephone Self-Service System (MTS). Learn more about accessing your account at all times.