ACH account Freeze
Date: Sat, 05/15/2010 - 10:40
Hello, I have a very simple question. When an ACH account is put on freeze are deposits allowed to go into the account? While looking at my account, there was a freeze put on ACH but after a deposit went in same day, could this just be because it happened before the freeze? Or is there indeed a possibility that the deposit went in after the freeze? Any help would be greatly appreciated.
What do you mean by an ACH account? ACH means Automated Clearing
What do you mean by an ACH account? ACH means Automated Clearing House which is the department of a financial institution that handles electronic transfers. The EFTA (Electronic Funds Transfer Act) states that you can revoke any automatic trasnfers (such as payments, etc.) at any time. All that does is stop the payments from coming out of your account, the name of each company withdrawing the payments must revoked individually.
Quote:Originally Posted by AnonymousHello, I have a very simple
Quote:
Originally Posted by Anonymous Hello, I have a very simple question. When an ACH account is put on freeze are deposits allowed to go into the account? While looking at my account, there was a freeze put on ACH but after a deposit went in same day, could this just be because it happened before the freeze? Or is there indeed a possibility that the deposit went in after the freeze? Any help would be greatly appreciated. |
An "ACH freeze" basically stops someone from debiting your account. Deposits will still be credited.