Automated Clearing House (ACH) Disclosure
PROVISIONAL PAYMENT: Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e., the originator of the entry) shall not be deemed to have paid you in the amount of such entry.
NOTICE OF RECEIPT OF ENTRY: Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.
CHOICE OF LAW: We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (“ACH”) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Wisconsin as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.
For questions call or write:
Home Savings Bank
P.O. Box 1070
Madison, WI 53701
Payments Will Be Moving Even Faster!
Great news! There's even more convenience coming to you very soon! Effective, September 15, 2017 automatic withdrawals (ACH transactions) could be withdrawn on the same business day from your account.
Previously, these ACH transactions could have taken 1-2 business days to process and come out of your account. With an upcoming change to federal regulations, it will now allow you to get your funds to your payee faster than ever before. This will make account reconciliation easier. However, it's important to note, to avoid incurring NSF or overdraft fees always make sure you have the funds available in your payment account on the date you schedule the payment to post.