ACH transfers are an efficient and effective means for transferring money or making payments.  Effective and efficient as long as the payments are credited to the right bank account.  The process used by banks to credit incoming fund transfers will routinely rely on the account number and account identification provided by the financial institutions or other persons who send the fund transfers.

To make certain that a financial transfer is made to the right bank account via an ACH transaction, a customer has to ensure that the banking information and account information provided to the originator of the payment or sender is accurate.  The ACH transfer should be processed without interruption if the name of the recipient as it appears on the account is accurate, the full bank account number is included, and the routing number of the bank or credit union is accurate.

A check provided by the receiver of the ACH transfer should include all the relevant information needed to process the transaction.  The check should include the customer’s name and bank name on the face of the check with the MICR line on the bottom of the check displaying the routing number for the financial institution as well as the account holders account number.  This is the primary reason why the sender of an ACH transfer will usually request that the receiver include a voided check along with the payment or deposit request.

Customers should contact their bank shortly after the ACH transfer is made for the first time to verify the amounts of the deposit.  It is the account holder’s responsibility to notify the bank of any changes they make in their banking arrangements that could cause any errors with the funds transfer.  Banks are not required to give notice to their customers when they receive a credit to their account through the Automated Clearing House (ACH) network.  The bank will usually notify the account holder of the credit in their regular account statement.

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