What does ACH-DEP mean?
I got my regular Army pay today and then I got another huge amount of money deposited under the above abbreviation. I am expecting my other half of my enlistement bonus but not untill Aug..is it possible they could have paid me earlier?? I got two deposits and the huge amount has the abbreviation ACH DEP...thanks any help will be appreciated=)
- 1 decade agoFavorite Answer
That just means an automatic deposit. Normally, anything outside of your normal military pay will come up like this on a bank statement. It could be a bonus, or a travel voucher or the like (did you PCS recently?).
My suggestion would be to put the money into a savings account to get some interest on it until you know what it is. Don't spend the money yet until you know why it was paid. Sometimes mistakes get made, and when the military finds out, they will want the money back immediately. However, if they did pay you something extra, you can still get some interest on in while you have it.
- Anonymous5 years ago
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ACH-DEP - ACH stands for automated clearinghouse and DEP indicates a deposit. These are standard banking shorthand items for transactions that run through the automated banking clearinghouse that virtually all commercial banks use for transaction processing. DCD is 'dual-currency' deposit. I am fairly sure that means you were paid in the currency outside of your account currency. For example, if you have an account in a US bank, it is denominated in US dollars. If someone send British Pounds or Euros to your account for a wire transfer, that would be considered a dual-currency deposit.
- 5 years ago
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What does ACH-DEP mean?
I got my regular Army pay today and then I got another huge amount of money deposited under the above abbreviation. I am expecting my other half of my enlistement bonus but not untill Aug..is it possible they could have paid me earlier?? I got two deposits and the huge amount has the abbreviation...Source(s): ach dep mean: https://tr.im/FXkuX
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- Anonymous1 decade ago
It's what goes when it's an automatic deposit
Automatic clearinghouse Deposit.
just another way of saying direct deposit
- F-16 ChiefLv 51 decade ago
didnt the military just get a raise?