How long does it take for an approved ACH check transaction to deposit into my bank account?

What is ACH?

An automated clearinghouse is a computer-based electronic network for processing transactions, usually domestic low-value payments, between participating financial institutions. 

What is a transaction?

Transaction: An action or activity involving two parties or things that reciprocally affect or influence each other.  For the purpose of this article, 'A transaction is an agreement carried out between a provider (bill for services rendered) and an insurance payer (payment to provider). It involves a change in the status of the finances of two or more businesses or individuals.'

ACH Funding Process

Generally, an approved ACH check conversion transaction that originated prior to 7:30 PM Eastern Time will post to the client’s bank account on the fourth business day following the date of the original payment transaction. A business day is defined as a Monday through a Friday, except for federal banking holidays.

If the day listed is a Federal Banking Holiday, then add one business day.

When are ACH transactions processed?

All approved ACH transactions processed by the same Merchant ID (MID) by 7:30 PM Eastern Time that are not voided during the same day will be settled together in one batch.  The processor, Forte Payment Systems, automatically settles all transactions for the day soon after 7:30 PM Eastern Time. All of the transactions in this “batch” will post as one deposit into the client’s bank account.

When and how will I see ACH deposits in my bank account?

•  Any approved ACH transactions processed after 7:30 PM Eastern Time on any business day will be settled with approved ACH transactions processed on the next business day prior to 7:30 PM Eastern Time.

• On the third business day after the settlement date, Forte prepares a deposit and submits the deposit as an ACH credit to the client’s bank account.

• On the next business day, the deposit has been received by the client’s bank and is generally posted to their bank account. Funds are usually available immediately, depending on the fund availability policy of the client’s bank. 

• A separate bank deposit will appear in the client’s bank account for each batch and for each business day for which there are approved transactions. Generally, the deposit description will appear on the bank statement as “Forte” and include the ACH Merchant ID (MID) applicable to the respective deposits.

Why does an ACH transaction take longer to fund than a credit card transaction?

The deposit schedule for ACH transactions is two days longer than the deposit schedule for credit card transactions, primarily because the patient’s bank has 48 hours to approve or decline the transaction from the time the transaction reaches the patient’s bank.  Although this results in delayed funds availability compared to credit card transactions and check deposits made directly to your bank, the result generally saves quite a bit of money on charges from your bank for checks that are returned for non-sufficient funds (NSF).