ACH – New Posting Process FAQ’S

Who will be affected with the new direct deposit process/posting?

The members that have direct deposit coming in and distributing to other account numbers.

Current way: The deposit posts with the company name to all accounts that the member wants the deposit distributed.

New way: the deposit will post to the member’s account number as the total amount, then the amounts will be transferred to the various accounts the member would like it to be distributed. It will show on the account as a transfer from the original account.

Do I need to change anything if I currently have direct deposit coming into my CapEd checking account from my employer?

If your employer is submitting your direct deposit as a draft deposit and it is posting to your draft account with no other distributions then no changes are required.  You are advised to verify this with your employer.

Do I need to change anything if I currently have direct deposit coming into my CapEd savings account from my employer?

If your employer is submitting your direct deposit as a savings deposit and it is posting to your savings account with no other distributions then no changes are required.  You are advised to verify this with your employer.

Will my reimbursements still combine with my payroll direct deposits?

If your employer is separating your reimbursement direct deposits from your payroll direct deposits then they should post separately.  You are advised to verify this with your employer.

Keep checking this page for more information on the changes coming in the future.

Further Questions?

If you have additional questions please send inquiries to ach@caped.com we will respond with 48 hours.

Published February 7, 2012
This entry was posted in Latest News.

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