If a customer uses an ACH debit to pay his/her bill at the web site or via pre-authorized debits, when is the payment credited to the customer account with the vendor?
When a customer makes a payment to a client of EBPS using an ACH debit to that customer’s bank account, that debit usually settles the next business day from the date the transaction was submitted. This means that the customer’s bank account will be debited on next business day following the day on which that customer entered the payment information in the EBPS secure web site. Credits to the customer account with the vendor will be displayed immediately after the entry of the payment information. Clients will normally receive the funds within three business days following date on which settlement of the ACH debit occurs in the customer bank account. The time lag allows for insufficiently funded payments, or returns for any other reason, to be offset against collections before the net remittances are paid to clients. Using the delayed payment date to clients eliminates the need for most chargebacks resulting from returned ACH debits. Customers should be sure that their accounts have su
Related Questions
- If a customer uses a credit or debit card charge to pay his/her bill at the web site or via pre-authorized charges, when is the payment credited to the customer account with the vendor?
- If a customer uses an ACH debit to pay his/her bill at the web site or via pre-authorized debits, when is the payment credited to the customer account with the vendor?
- Does UNITS have debit payment services to automatically pay my bill each month?
