Same Day ACH Debits

September 6, 2017

Same day processing of Automated Clearing House (ACH Debits), effective on September 15, 2017. This means any payments made by writing a paper check or by telephone could clear your checking account on the same day.

All consumers, businesses, government entities, and financial institutions using the ACH Network to move money between bank accounts will benefit from the option to move ACH payments faster.

What’s changing?
Currently, credit transactions are posted multiple times per day while debit transactions are posted to accounts only once per day. As of September 15, 2017, debit transactions will also be processed multiple times per day.

How does this affect me?
Previously, you may have seen debits posted to your Peoples Trust Company checking or savings account once per day. Starting September 15, 2017, ACH transactions, such as direct debits, automatic payments, bill payments, and electronically converted check payments, will post multiple times throughout the business day.

What are the benefits of same day ACH debits?
The conversion to ‘same day ACH debits’ will provide faster clearing for these debit transactions, providing you with a more accurate balance on your account. Similarly, business to business payments will process more quickly, providing faster processing of invoices and payments.

Will my direct deposit be affected?
No. Your direct deposit will continue to be credited to your account on the correct posting date.


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