Credit unions, banks, and other financial institutions use ACH to electronically transfer money between one another on behalf of their members and customers. An ACH transaction can be a withdrawal or deposit to your account.

How can I tell if this is an ACH transaction?

Identifying an ACH transaction is easy. When you set up an ACH payment, you'll be asked to provide two pieces of information:

  • Your Bank Account Number: This is the account number listed on your membership card. Many institutions also list a shortened version of your account number on your account statements. Remember: Your debit card and credit card numbers are different than your bank account number.
  • Your Bank's Routing Number: Every financial institution has a unique 9-digit identification number. Prime Financial Credit Union's routing number is 275080282.

Transactions directly involving cash, a check, credit card, or debit card are not generally ACH transactions. Wire transfers are also different than ACH transactions.

What are some examples of common ACH transactions?

You're likely using ACH transactions already. Here are some examples:

  • Deposits (credits):
    • Direct Deposit Paychecks
    • Government Benefit Payments
    • Tax Returns
  • Withdrawals (debits):
    • Utility Bill Payments
    • Credit Card Payments
    • Inter-bank Loan Payments
    • Insurance Premium Payments

What is a recurring ACH transaction?

A recurring ACH transaction is an ACH transaction that automatically processes at scheduled intervals. Direct deposit paychecks are a recurring ACH transaction that many of us are already familiar with. If you've scheduled automatic payments for utility bill, credit card, and inter-bank loan payments using your bank account and routing numbers, those payments are likely also considered recurring ACH transactions.