ACH stands for ‘Automated Clearing House’ and is also commonly know as Direct Debit or Sure-Pay. ACH is the system whereby the Federal Reserve facilitates the automatic transfer of funds from one bank account to another. After receiving a completed authorization form and voided check from the homeowner, our office generates an electronic file containing a description of the homeowner’s account (routing number and account number from the voided check provided), and the dollar amount of the transfer. This file is transmitted to our bank, which forwards it to the Federal Reserve, and the transfer is processed. Our office automatically processes the transfer on approximately the 5th day of the month for which the assessment is due and is a great way for homeowners to know their assessments are automatically being paid. If you are interested in signing up for ACH please the Homeowner Resources portion of our website to download the required Authorization Form.
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