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New England ACH Association (NEACH) debuts faster payments educational tools for consumers.

M2 EQUITYBITES-August 18, 2017-New England ACH Association (NEACH) debuts faster payments educational tools for consumers

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The New England ACH Association (NEACH) has announced a new faster payments education campaign aimed at encouraging consumers to get in the habit of checking their account balances at the close of business each day, the company said.

"Check@5," supports financial institutions in making sure their customers keep on top of account balances as payments speed up.

Today, all payments are moving faster, from same-day to real-time. Practically, that means money is going to move into and out of bank accounts with increasing speed. For example, as Same Day ACH debits (also known as direct payment or direct withdrawal via ACH) go live in one month, payments may be pulled from consumer accounts on the very same day, shortening the time frame for "pending" transactions. And when it comes to real-time payments, money could transfer faster still.

With an underscoring theme of "check your account at the end of the day," Check@5 offers a clear call-to-action for consumers. The campaign includes a comprehensive toolkit for banks and credit unions to leverage with their customers.

The New England Automated Clearing House (NEACH) is a non-profit association that helps members originate and receive ACH transactions, and provide products, services, education and marketing to increase the acceptance, use and quality of electronic transactions. For more information, visit neach.org.

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Publication:M2 EquityBites (EQB)
Date:Aug 18, 2017
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