Understanding Secure ACH Payments

ASTTU

What is ACH? ACH stands for Automated Clearing House, a regulated electronic network facilitating direct fund transfers between two bank accounts.

Benefits of ACH payments:

1. Convenience: Eliminates the need for writing checks.
2. Enhanced Security: Reduces the potential for human errors.
3. Recurring Billing: Ensures timely payments without the need for manual intervention.
4. Fast Processing: Minimizes delays or mail-related issues in payment delivery.
5. Improved Payment Tracking: Payee information appears on bank statements or financial software.
6. Environmentally Friendly: Promotes eco-friendliness with the reduction of paper use.
7. UnionHub’s Pay Day Deduction System™: You can choose any day or date you want for your deductions. Many Members select their payday or pay period through UnionHub’s Pay Day Deduction System™ because it keeps premiums in sync with when they are paid which helps reduce missed payments and makes account management easier for both Members and administrators.

ACH offers robust security compared to traditional checks

According to the 2023 AFP Payments Fraud and Control Survey, paper checks were the most susceptible payment method to fraud in 2022, as has been the case for the past 10+ years. Checks contain sensitive information such as account and routing numbers, along with the account holder’s personal contact information like name, address and phone number. Sending a paper check via mail exposes it to various risks, such as loss, signature forgery and tampering. Conversely, ACH payments are a secure and safe method of sending money.

ACH Authorization Terms and Conditions

When agreeing to ACH Terms, you authorize Union One Benefits Administration, Inc (“Union One”) to electronically debit and credit your designated deposit account at your designated depository financial institution (your “Bank Account”) via ACH and, if ever applicable, to correct debits and credits via ACH as follows:

- Frequency of Debits: On the closest business day to the date of your selected draft (however, debits and credits may not necessarily occur every business day).

Have further questions? The ASTTU team can assist you at (314) 282-8289.

Pay Day Deduction System™ is a proprietary trademark and payment system of UnionHub, Inc.

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