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The Electronic Payments Association (NACHA) recently adopted new rules that govern same-day ACH processing. Effective September 15, electronic debit transactions may post to your account sooner.
Electronic debit payments are different from debit card payments and ATM transactions. Commonly known as Direct Payments, Direct Debits, ACH Debits, Electronic Checks or e-Checks, electronic debit payments are funds that you agree to allow a merchant or billing company to transfer directly from your account. With this change, companies you have authorized to debit your account may choose to do so sooner than previously but not prior to the authorization date. This will allow you to access your available account balance information more quickly.
Please remember when authorizing a merchant or billing company to debit your UFCU account that the payment could process as early as the same day. Because of this, you should always have sufficient funds in your account for every payment you make, authorize, or initiate.
In addition, transfers made to or from another financial institution initiated by you within the UFCU online banking platform will be treated as same-day transactions.
If you have any questions or need further assistance, feel free to contact us. We’re happy to help.