What does the new ACH Verification process consist of?
With this process, every time you add a new Financial Institution to your account list, a new verification process will be required before an ACH transaction can be scheduled. When a new financial institution is set up, our system will generate a debit and credit for a random amount of less that $1.00. You must verify this transaction amount in Grow Online Banking before scheduling additional transfers. The initial verification transfer will not be counted as part of the federal regulation limit for the number of electronic transfers from savings accounts.
