SAME DAY ACH TRANSACTIONS

Farmers State Bank would like our customers to be aware that effective September 15, 2017, a new federal rule allowing for faster processing of debits from your accounts goes into effect. This rule was put into place by the Electronic Payments Associations, known as NACHA, and impacts all financial institutions, merchant, and consumers.

What this rule means is that when checks are given to merchants or online payments are scheduled with businesses, such as your utility company, the amount of the debit may be withdrawn from your account the day the charge is made. Previously, the debit could have taken as long as 1-2 days. Checks should never be written or payments scheduled when sufficient funds are not in your account to cover the entire amount of the purchase or payment.

Thank you.