Customer Notice

ACH (Automated Clearing House) same day debit/credit procedures may affect you.

Recently, changes have been made in the way billers may be paid. Both checks and electronic payments may be debited the day they are received. It is important to check and see how your Billers are handling payments. When you pay a bill, look at the options that are offered you by the company. Some will allow you to schedule a payment at a future date; others may debit your account the same day they receive your “pay my bill” instruction.

This new same day procedure doesn’t only offer benefits to businesses. There are also added conveniences for consumers. Same-day ACH may help alleviate some of the concerns in trying to figure out when various types of credit and debit payments will post to your accounts and therefore reduce the consequences of things like overdrawn balances and the fees associated with them.


What is same day ACH?

This payment process is a step towards making debit and credit payments in real time. As of September 15, 2017 some electronic payments and checks may post to accounts the same day they are made or received.

What should I know?

Consumers should know that when they authorize a merchant or biller to debit their account though their current financial provider, they should request information about how and when the debit will take place. The merchant may intend to collect funds as soon as possible – same day.

Can same day transactions be any amount?

No – The maximum same day debit or credit is $25,000. Agreed upon limits are set by your financial institution for same day debit or credit.

Will there be changes to my existing pre-authorized electronic payments?

If you have set pre-authorized reoccurring payments, there will likely be no change, but it is wise to confirm that.

How does this affect my current originations with NBM?

This will not affect your current originations with NBM.

Are there any fees associated with same day transactions?

NBM does not charge or collect fees for this service. Your Biller may have fees.

Does NBM offer same day origination?

National Bank of Middlebury is required to receive and post all same day ACH transactions. We will not be offering same day origination transactions from your account at this time.