What Info Is Needed for an ACH Transfer?
Learn what specific banking information is required to securely send or receive funds via ACH transfers, and where to find it.
An ACH (Automated Clearing House) transfer is an electronic movement of funds between bank accounts within the United States. This system facilitates a wide range of financial transactions through the ACH network, managed by Nacha. Common uses for ACH transfers include direct deposit of paychecks, automatic bill payments, and person-to-person money transfers. Understanding the specific information required for these transfers is essential for accurate transfers.
Information Needed for Sending Funds
To initiate an ACH transfer, the sender requires specific details about the recipient’s bank account. The recipient’s full legal name is necessary for proper identification. The name of the recipient’s bank or financial institution is also required, as this identifies where the funds are being sent.
The recipient’s bank routing number, a unique nine-digit code that identifies their specific financial institution, is needed. The recipient’s bank account number, which is unique to their individual account, is also needed for the transaction. Finally, specifying the account type (whether it is a checking or savings account) is often required to complete the transfer accurately.
Information Needed for Receiving Funds
When you need to receive an ACH transfer, you must provide certain information to the sender. This includes your full legal name, matching the name on your bank account, and the name of your bank. You will also need to provide your bank’s routing number, which identifies your financial institution to the sender’s bank.
Your specific bank account number is also necessary, as this directs the funds to your individual account within your bank. Additionally, you should specify the type of account the funds are being sent to, whether it is a checking or savings account.
Locating Your Banking Details
Finding your bank routing and account numbers is straightforward. One common method is to locate them on a physical check. The nine-digit routing number is typically the first set of numbers printed on the bottom left corner. Your account number is usually the second set of numbers, positioned to the right of the routing number, and is unique to your specific account.
For those who use digital banking, your online banking portal or mobile app provides easy access to these details. Most banks list your account and routing numbers within the “account details,” “account information,” or similar sections after you log in. Additionally, your monthly bank statements, whether paper or electronic, will display your full account number and routing number, often in the top right corner or summary section. If you are unable to locate these details through these methods, contacting your bank directly is always an option.