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Home > Changes going into effect Sept.15th

Important account update

A change to how electronic withdrawals are processed from your account will go into effect Sept. 15. Electronic withdrawals are more commonly known as direct payment, direct debit, ACH debit, electronic check or e-check. They are different from your debit card and ATM transactions. All financial institutions must comply with a new rule requiring same-day ACH (Automated Clearing House) electronic withdrawal processing.

Here are the key points you need to know about the changes:

  • You may see electronic withdrawals clear your account the day you authorize them.

  • Your account balance may change several times in one day and the “pending” transaction time may decrease from what you have experienced before.

  • Same-day ACH electronic withdrawal processing is determined by the merchant or biller. If they offer you the option to make a same-day payment, note that they intend to collect the funds as quickly as possible.

As always, please remember to always have sufficient funds in your UnitedOne Credit Union account to cover every payment you authorize or initiate to avoid overdrawing it. You should frequently review account balances and transactions. Sign up for Internet Banking and use Mobile Banking to set up e-alerts to help you easily track your account each day.

Frequently Asked Questions

Q: What is ACH?

A: The Automated Clearing House is an electronic network for financial transactions in the United States. ACH transactions include direct deposits and automatic withdrawals.

Q: What is NACHA?

A: The National Automatic Clearing House Association manages the development, administration and governance of the ACH Network, which is how electronic movement of money and data in the United States takes place.

Q: Why has NACHA implemented this new rule?

A: This change will provide universal capability for moving ACH payments faster to allow the same-day processing of ACH electronic withdrawals.

Q: When will this take effect?

A: Sept. 15, 2017.

Q: Does this rule apply to all banks and credit unions?

A: Yes. All financial institutions must comply with the new ACH rules.

Q: What’s changing?

A: Credit transactions are already posted multiple times per day, while electronic withdrawals have been posted only once per day. As of Sept. 15, 2017, electronic withdrawals will also be processed multiple times per day as well.

Q: If I write a check, how will I know if it will clear the same day?

A: Same-day ACH electronic withdrawal processing is determined by the merchant or biller.

Q: Will my direct deposit be affected?

A: No. Your direct deposit will continue to be credited to your account on the posting date.

Q: What’s the best way to keep track of my UnitedOne Credit Union account balance?

A: Sign up for Internet Banking and use Mobile Banking to set up e-alerts to help you easily track your account each day.

If you have any other questions, feel free to call us at 920-684-0361 or 920-451-8222, visit any of our branches, or email us. We'll be happy to answer them for you!


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