Your Single Source for Electronic Banking Click to Learn More about SAS 70
775.267.0067
Home About Us Payment Solutions    Educational   Security Client Testimonials Demo Contact EFC
INTRODUCTION
TO
ACH PROCESSING



"PROCESSING YOUR FUNDS AT THE SPEED OF LIGHT"


How ACH Funds Are Settled

Settlement is the actual transfer of funds for ACH entries between financial institutions provided by the Federal Reserve Bank. The net debit and credit positions of financial institutions are calculated and posted to the reserve accounts of financial institutions (or to the account of their correspondent).

The timing of settlement is based upon the effective entry date indicated on the ACH file and the time of its delivery to the ACH Operator. ACH debits may be delivered to the ACH Operator no earlier than one banking day prior to the settlement date. ACH credits may be delivered no earlier than two banking days prior to the settlement date.

When the ACH Operator processes an ACH file, the effective entry date is read and entries are settled according to that date. If the ACH Operator cannot settle on the effective entry date due to untimely file delivery, a stale date, weekend, or holiday, the ACH Operator will apply a settlement date of the next business day.









In Partnership with
EFT Network


Electronic Funds Corporation is a BBB Accredited Business. Click for the BBB Business Review of this Payment Processing Service in Carson City NV

- Email EFC -


   © All Rights Reserved - EFC 1999-2014
Legal Notice - Privacy Policy