SAME-DAY ACH DEBIT PAYMENTS
Beginning on Friday, September 15, 2017
Be on the lookout! This recent update means debit payments could happen faster.
As a part of the Federal Reserve’s Faster Payment Initiative, customers should be aware that the option of same-day ACH debit electronic payments is possible starting Friday, September 15 for companies that debit your account. This update will make it faster and easier for our customers to make payments, but also means the debit may come out of your account quicker. For example, if you have a bill due on the 25th of the month,the billing company may allow you to call or use its website to make a payment on that day with your bank account information and receive same-day credit. In that scenario, the funds could be withdrawn from your account as early as the same day you made the payment instead of the usual 1-2 business days.
We encourage our customers to make a habit of regularly checking their account balance information, now that payments and funds may move more quickly. We want to ensure our customers are made aware of any updates or new developments happening in the financial services industry. It is our priority to ensure our customers always have an exceptional experience banking with us, and we know life moves fast.
If you have any questions regarding this update, please give us a call at 1-888-680-2655.