ACH Credit

[alexthegreat123]

Hi guys!

Did anybody get the payment via ACH transfer (shows up as ACH credit on your bank)? A person initiated this type of transaction using his online banking of Bank of America account. It's cleared within 2 days. Not really sure if I'm save to send the watch.

Let me know what are your thoughts

Thanks

[greekbum]

If you have BAO and The buyer has BOA and he did an online transfer between acounts just call the bank and ask if not look into it BEFORE you send the watch. I have seen several ACH transactions REVERSED. Do your homework and know your buyer.Make sure the transfer came from the same name as the buyer.


The acronym ACH can stand for “Automated Check Handling” or “Automated Clearinghouse.” ACH transactions are electronic checks, and are used for processing lower dollar amount payments. They are processed in a manner similar to that of paper checks, and do not travel directly from one bank to another.

ACH transactions are processed through a clearinghouse divides that handles crediting and deducting accounts of the originating and paying banks. It typically takes one or two days to settle ACH transactions.

[alexthegreat123]

Yes, the transfer came from the same name as the buyer. Can this transaction be reversed even if it was already settled? What are my options?
I know for sure that I can't reverse it from my side even if I want to reject it

Thanks

[greekbum]

It would only be reversed for fraud. ACH fraud is much bigger and easier than wire fraud all someone needs is a check to do it. Google ACH fraud and read. Not everyones a crook so....

[alexthegreat123]

Will do! thanks