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Same Day ACH Notice

Same Day ACH Debits: What Members Need to Know

In an effort to improve and modernize the U.S. payments system, you may have already noticed a change in the times during the day that electronic Direct Deposits may post to your account. This change was made by NACHA (National Automated Clearing House Association) to help provide you with faster access to your funds for same day Direct Deposits to your account as phase 1 of the Same-Day Rule. Beginning on Friday, Sept. 15, 2017 the times will also change that electronic debit payments to your account may occur with the beginning of phase 2 of the Same-Day Rule. ACH debits include, but are not limited to, automatic drafts, check conversions and electronic payments. Once the second phase of this rule goes into effect, any ACH debit can clear your account on the same day it is initiated. For example, if you write a check at Walmart and they turn it into an electronic payment, that check could clear your USFCU account the same day you write it.

What You Should Know:

  • When you authorize a merchant or biller to debit your account with USFCU, that debit may withdraw funds from your account on the same day. You should always have sufficient funds in your account to cover every payment you make, authorize, or initiate. You should frequently review your transaction history and your account statements.
  • If you have pre-authorized a recurring electronic payment, such as a water bill, electric bill, newspaper subscription, cable bill, etc., very likely there will be no change to the time these payments are posted to your account.
  • United Southeast Federal Credit Union has no control over when these ACH files are received and/or when they post to your account.

Should you have any questions about how the new Same Day ACH rule can affect your automatic debits, please contact us at 423.989.2116 or 1.888.202.1212 ext. 2116.

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