News & Events

Same Day ACH Payments Effective September 15, 2017


As part of an effort to improve and modernize the U.S. payments system, you may have already noticed a change in the times during the day that we apply electronic Direct Deposits to your account. This change was made to help provide you with faster access to funds for same-day Direct Deposits to your account.

Beginning Friday, September 15, 2017, we will also change the times that we apply certain electronic debit payments to your account. These electronic debits are commonly known as Direct Payment, Direct Debit, ACH Debit, Electronic Check or e-Check, and similar terms. They are different from your debit card payments and ATM transactions.



Many merchants and billing companies may offer you the option to make a same-day electronic payment, such as to pay a bill or to transfer funds. If you agree, then your funds might be debited from your account as early as that same day. For example, if you have a bill due on the 25th of the month, the billing company might allow you to call or use its website on the morning of the 25th to make an on-time payment, and have the funds debited from your account on the 25th.



1. You should understand that when you authorize a merchant or biller to debit your account with their financial institution, the merchant or biller should include information or a statement about the timing of the payment. If the merchant or biller offers you the option to make a same-day payment, it might be referred to as a same-day payment, or they may simply notify you that they intend to collect the funds as quickly as possible.

2. If you have pre-authorized an electronic payment, such as a recurring mortgage or insurance payment, then most likely there will be no change to the time that these payments are posted to your account. AEFCU will receive and post these payments normally as designated by the transaction effective date.

3. You should always have sufficient funds in your account to cover every payment that you make, authorize, or initiate and you should frequently review your AEFCU account statements and transactions.



If you have any questions regarding same day electronic payments, call the Member Contact Center at 860.568.2020.