What Same Day ACH Means for You

Here’s What You Need to Know About “Same Day ACH”

Let’s start here: If you’re a person (and we know you are) with a checking or savings account somewhere (anywhere), odds are that changes to the rules that govern electronic deposits and withdrawals are going to affect you and we’re here to tell you about it so read on.

The first thing we want you to know is that it’s good news. It’s going to be easier to keep your accounts balanced and less possible to accidently spend the same money twice. With these rule changes, more of the transactions you expect to be happening the same day actually will, which is helpful.

So far so good? How about some details?


Starting on September 15th, 2017, financial institutions everywhere (including your friends at Simplicity CU) will be following new rules for ACH transactions (ACH = Automated Clearing House = A lot of the electronic transactions that move money from one place to another).

These new rules mean that we’ll start processing electronic withdrawals throughout the day instead of just once in the morning.  It’s a process called Same Day ACH and it’s going to mean that things process through the system more quickly.

So there are some things you’ll want to know.

  • If you make a habit of paying your bills online on a Wednesday or Thursday knowing you’d get paid on a Friday and it would take at least a couple of days for the money to be withdrawn, you should break that habit. No judgement, friend, some of us used to do that exact same thing, it’s just that now you’re more likely to overdraw your account and we hate to see that happen.
  • When we say “Same Day” it’s a little bit of a misnomer. There’s a lot that goes in to moving money from one place to another and just because your helpful Credit Union is set up to process those transactions throughout the day, that doesn’t mean the place you authorize to take the payment will do it that same day.
  • If you’re not already an online banking believer, this is a great reason to convert. You can see your accounts 24/7/365 and as even though transactions will move more quickly, you’ll be able to keep up. Plus, with our online banking, you can see Pending transactions before they hit your account. Talk about up-to-date info!

Our team is excited to be able to offer faster, more efficient service that keeps you moving forward. As always, if you have questions or concerns we’re here to help!

Email our Member Service Ninjas at msc@simplicity.coop or call 844-769-2667.