What is an ACH credit?
I want to open a high school checking account at Chase and I can either pay a 6 dollar monthly fee(I'm not going to do) or I can have no monthly service fee with monthly direct deposits. It says:
Direct Deposit: The direct deposits, each of which must be an ACH credit, may include payroll, pension or government benefit payments, such as Social Security.
So what is an ACH credit? And how do I know if I can do one?
- A HunchLv 77 years agoFavorite Answer
ACH means "automated clearing house" - it's a fancy term for a direct deposit, but needs to come from one of the sources listed = paycheck, pension, or government benefit.
- CarenLv 77 years ago
It's just a credit, a deposit, a direct deposit. Not sure how much clearer they could be. A credit is an amount added to your account. A debit is amount debited or taken out of your account. Do you have a job? Ask your employer for direct deposit into your account (a credit).