Automated Clearing House, ACH, transactions normally take one business day to process. Therefore, ACH deposits are not subject to the same hold times that enable banks to delay the availability of funds from check deposits. However, some ACH deposits can take longer to process, and in a worse case scenario, a bank may not accept an ACH deposit at all.
ACH Deposits
Receiving Bank
Originator of the ACH
Other Considerations
References
- Comptroller of the Currency Administrator of National Banks; Answers About Funds Availability; August 2010
- NACHA: Homepage
- NACHA: ACH Volume Grows to More Than 25 Billion Payments and $43 Trillion in Value in 2016
- Internal Revenue Service. "Get Your Refund Faster: Tell IRS to Direct Deposit your Refund to One, Two, or Three Accounts." Accessed July 1, 2020.
- Venmo. "How Venmo Works." Accessed July 1, 2020.
- PayPal. "Who We Are." Accessed July 1, 2020.
- Walmart. "Walmart MoneyCenter." Accessed July 1, 2020.
- National Credit Union Association. "Share Insurance Fund Overview." Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "Deposit Insurance FAQs." Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "Understanding Deposit Insurance." Accessed July 1, 2020.
- Federal Deposit Insurance Corporation. "Evaluation of Federal Oversight of Washington Mutual Bank," Page 1. Accessed July 1, 2020.
- Consumer Financial Protection Bureau. "Administrative Proceeding 2016-CFPB-0015," Page 4. Accessed July 1, 2020.
- Consumer Financial Protection Bureau. "Consumer Financial Protection Bureau Fines Wells Fargo $100 Million for Widespread Illegal Practice of Secretly Opening Unauthorized Accounts." Accessed July 1, 2020.
- Wells Fargo. "Wells Fargo Launches ‘Re-Established,’ a New Brand Campaign." Accessed July 1, 2020.
- U.S. Securities & Exchange Commission. "JP Morgan Chase Paying $264 Million to Settle FCPA Charges." Accessed July 1, 2020.
- Consumer Financial Protection Bureau. "Checklist for Opening a Bank or Credit Union Account," Page 1. Accessed July 1, 2020.
- Federal Deposit Insurance Corporation. "FDIC Law, Regulations, Related Acts." Accessed July 1, 2020.
- Alabama State Legislature. "Alabama Code Title 26. Infants and Incompetents. S26-1-1." Accessed June 22, 2020.
- Federal Deposit Insurance Corporation. "Guidance to Encourage Financial Institutions' Youth Savings Program and Address Related Frequently Asked Questions," Page 1. Accessed July 1, 2020.
- U.S. Department of Veterans Affairs. "Change your VA direct deposit information." Accessed July 2, 2020.
- Social Security Administration. "Set Up or Change Your Direct Deposit of Benefit Payment." Accessed July 2, 2020.
- Comptroller of the Currency, Administrator of National Banks. "Depository Services," Page 54. Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "Expedited Funds Availability Act," Page VI-1.1, VI-1.6. Accessed June 19, 2020.
- Office of the Comptroller of Currency. "My employer pays me via direct deposit. When are those funds required to be available?" Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "FDIC: Weekly National Rates and Rate Caps -- Weekly Update." Accessed June 19, 2020.
- JPMorgan Chase. "Chase Savings Interest Rates." Accessed July 2, 2020.
- Federal Deposit Insurance Corporation. "Insured or Not Insured?" Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "FDIC Statistics at a Glance." Accessed June 19, 2020.
- Federal Deposit Insurance Corporation. "When a Bank Fails -- Facts for Depositors, Creditors, and Borrowers." Accessed June 22, 2020.
- Federal Deposit Insurance Corporation. "What We Do." Accessed June 22, 2020.
- Federal Deposit Insurance Corporation. "Basic FDIC Insurance Coverage Permanently Increased to $250,000 Per Depositor." Accessed June 22, 2020.
