ACH Fast Credit FAQs

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What is ACH Fast Credit?

ACH Fast Credit is an enhancement to our current ACH services that allows Berkshire Bank to post credits up to 2 days early, depending on when the item is received, allowing our customers to have access to their hard earned money sooner.

How does ACH credit differ from the way Berkshire Bank posted ACH credits prior to September 13th?

Previously, ACH credits posted on the effective date, regardless of when the item was received.  For example, if an ACH credit came in on a Wednesday, but the effective date was Friday, the item would post on the effective date.  With ACH Fast Credit, a credit will now post when it is received and the customer will have full use of the available funds. 

What types of incoming credits does ACH Fast Credit apply to?

ACH Fast Credit applies to ALL incoming consumer ACH credits in to a consumer’s account in the form of ACH.  This would include items such as paycheck direct deposits, Federal tax returns, Social Security direct deposits, alimony or child support payments and much more. 

Is ACH Fast Credit available to all customers?

ACH Fast Credit is available only for consumer transactions that come through with the Nacha Standard Entry Class code of PPD which stands for Prearranged Payment and Deposit.  This includes all of the types of credits mentioned above (direct deposit, federal tax return, social security, alimony, child support, etc.).  Most business transactions are coded as CCD/CTX, which stands for Corporate Credit or Debit and are not eligible for ACH Fast Credit.

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