I just noticed my new bank account does not allow ACHs

Yeah, I've heard of it before. That's why most pdl's will require a bank statement or a conversation with your bank before they will deposit your loan. They are verifying that your account accepts ach payments.

Does this mean that srowan wouldn't be able to have direct deposit? As that is an ACH deposit?

Thanks for the responses, guys! I did call my bank this morning. They said that clause in my information on my new account just pertained to third party EFTs, whatever that is. They said yes, they do allow ACHs on my account, and my direct deposits. So, I'm feeling pretty good, as long as the pdls do not get ahold of my new account information, since I have read of that happening here on the forum.

What does that mean? "pertained to third party EFTs"

EFT means electronic funds transfer . . . . I'm not totally sure what 3rd party EFT's would be, because I would assume all EFT's would involve a third party, unless you are just transferring money to another account you own.

You know, what is really funny, when I asked the lady in "new accounts" what the third party EFT was, she said she didn't know either! But she looked up my account and said, yes, I could have ACHs.

Okay, I no longer feel stupid for asking that question. The person at the bank didn't even know. :shock:

That's scary that the bank doesn't even know the answer.