ACH TRANSACTIONS

ACH transactions are described on your statement and account activity as “External Deposit” or “External Withdrawal” and a subsequent description as determined by the sender of the ACH transaction.

Many senders of ACH transactions convert checks to ACH for lower cost and ease of processing. You should have received notice on a statement, a sign at a checkout counter, etc. indicating that your check will be converted to ACH. Information from your check is used to create an electronic debit to be sent to Nuvision for collection.

If the item is a check converted to ACH, the check number will still appear on your account activity and statements; however, it will also include “External Withdrawal” in the description.

Unfortunately, there is no image available of a cleared check when checks converted to ACH. Since the item was converted to an electronic debit, no image was submitted to the Credit Union for processing. You may contact the company to which you issued the check and request a copy of the original item.

Proof of payment for an ACH transaction is the entry reflecting the debit/credit on your statement. Since ACH are electronic transactions, there are no physical copies of ACH transactions.

A wire is a real-time transfer of immediate funds and supporting information between two financial institutions which can be expensive to use. An ACH is similar to a wire transfer in that it is an electronic transfer of funds; however, ACH uses a batch-process. ACH transactions received by the originating institution during the day are stored and processed later in batches and do not become available to a beneficiary until the settlement date. ACH transfers are covered by Federal Regulation E, and can provide some additional protection for consumers.

Cancellations of ACH transactions should be directed to the company/entity with which you initially set up the transactions. In other words, if you set up automatic ACH debits with a gym, you must cancel that authorization with the gym directly. You may place a stop payment with Nuvision to prevent future debits from posting to your account; however, there is a fee associated with these requests as outlined in our Schedule of Fees & Charges.

If there is an ACH entry that has posted and paid from your Nuvision account that you did not authorize, please contact us to file a dispute immediately. You may reach us by telephone at 800.444.6327, by visiting your local Nuvision Credit Union branch, or using our online banking chat feature during our normal business hours.

If an ACH transaction that you authorized has paid from your Nuvision account with an error in the amount or posting date, please contact us immediately to file an ACH dispute. You may reach us by telephone at 800.444.6327, by visiting your local Nuvision Credit Union branch, or using our online banking chat feature during our normal business hours.

Unfortunately, the Credit Union is not able to assist with issues of satisfaction when you pay for an item via ACH. If you paid for the services/goods via ACH, please contact the payee/originator to resolve this issue.

Yes, if the item has paid from your Nuvision account, you may file an ACH dispute related to the transaction. Please contact us immediately to file an ACH dispute. You may reach us by telephone at 800.444.6327, by visiting your local Nuvision Credit Union branch, or using our online banking chat feature during our normal business hours.

Yes. Checks converted to ACH still must carry the item # (serial number, check number) in the record which allows us to identify it as an item for which you have requested a stop payment.

ACH Origination is the process by which an ACH transaction is created and then submitted through the ACH network for settlement. ACH Origination can be either debit or credit entries for transactions posting to checking or savings accounts; however, ACH origination transactions cannot be created to debit a loan account.

Yes. Nuvision has different options available to assist you with sending ACH debits to or from your Nuvision account. You may set up an outgoing ACH credit, through Nuvision’s online banking platform, after you sign on to your online banking account with us by selecting the “Transfers/Loan Payments” tab and following the easy-to-follow instructions. Alternatively, you may contact us to complete a written agreement to establish these transfers by contacting us by telephone at 800.444.6327, by visiting your local Nuvision Credit Union branch, or using our online banking chat feature during our normal business hours.

To send money to an account on which you are not an owner, Nuvision offers Popmoney®, an easy-to-use and free service to our members via our online banking and mobile banking sites. Popmoney®, allows you to send money via ACH from your Nuvision account to any person with a U.S. bank account..

Nuvision posts ACH transactions in order of receipt and in accordance with the payment instructions designated in the ACH file record and may be posted throughout the day. Due to recent changes in the ACH network, electronic payments and withdrawals may post even faster than before, in some cases, on the same day that you authorized them. It is very important to ensure that you have sufficient funds available in your account before you issue a check, or make in-person, online, or telephone payments, to avoid incurring NSF, overdraft, or Bounce! Protection fees. Checks should never be issued, nor payments scheduled, if sufficient funds are not available to satisfy the payment.

Nuvision will continue to post ACH credits the evening prior to the designated pay date when credit has been received by the Credit Union in advance of the pay date. With the changes to ACH network, it is possible that the sender of a credit to your Nuvision account may choose not to send a file until the date provided on your direct deposit advice, check stub, etc. In cases like this, Nuvision will not be able to post it early, but will post on your actual pay date.