Machias Savings Bank

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Same Day ACH

SAME DAY ACH

Since the introduction of electronic deposits and payments, money is moving faster than ever before thanks to the Automated Clearing House (ACH). Avoiding risks and hassle associated with paper checks, ACH offers a level of security and safety when moving your money.

With a strong focus on providing fast, secure transactions, the development of same-day processing removes the wait factor, giving you faster results! As part of a 3-Phase approach, in 2016 NACHA rolled out the rule on same-day processing of electronic deposits.

On September 15, 2017, electronic payments join the same-day rule. Coming in 2018, both electronic deposits and payments will have a set posting time of 5PM local time.

If you simplify your life with automatic payments, here are 3 things you should know:

  1. Payments processed via ACH may be posted to your account in 1 - 2 days...possibly even the same day!
  2. Avoid NSF charges, returned payments and/or potential late charges by having money in your account to cover the payment; with payments processing faster there is less time to make that last minute deposit.
  3. The 'Same-Day' option does NOT allow a company to charge your account prior to the date you authorized. Should you question the date a payment appeared on your account, contact the Merchant or Service provider.

To learn more about how the 'Same-Day' option deposit and payments made via ACH helps safeguard your information visit https://resourcecenter.nacha.org

OUR FOCUS

As a customer of Machias Savings Bank, the focus is on you. We will enhance your banking relationship by working with you to discover your banking needs. We will be there when you need us.

© Machias Savings Bank. All rights reserved.

Member FDIC. Equal Housing Lender logo Equal Housing Lender.
Routing Number: 211274531
NMLS Number: 469539

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