Clearshift News

ACH Debits Now Available on Personal Accounts

- February 24, 2014

In light of the check -clearing crisis in Israel, Clearshift has begun offering the ability for personal accounts to "draw" funds from a US account.  In addition to being costless, this transfer method is extremely helpful for a range of US expatriates who maintain accounts at smaller US banks that restrict online wire initiation. Many banks require the customer to physically enter their branch to approve wire transfers. Clearshift was already offering BillPay payments to its New Jersey lockbox, but these payments often take 5 to 7 business days, as the banks actually mail out physical checks to the lockbox. ACH debits typically clear 3 to 4 business days after being initiated.
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