| Title: | ACH HOLIDAY DEBITS |
|---|---|
| Date: | 1992-09-04 |
| To: | abi |
| Links: | previous, next |
THERE HAVE BEEN QUESTIONS AS TO THE DAY AN ACH PAYOR'S ACCOUNT WILL
BE DEBITED WHEN THE 2ND DAY FOLLOWING THE ACH PAYMENT AUTHORIZATION
FALLS ON A HOLIDAY. UNDER NORMAL CIRCUMSTANCES AN ACH PAYOR'S ACCOUNT
IS DEBITED 2 DAYS AFTER THE ACH PAYMENT AUTHORIZATION IS TRANSMITTED
AND ACCEPTED VIA ABI. THE RULE OF THUMB IN DETERMINING THE DAY A PAYOR'S
ACCOUNT WILL BE DEBITED WHEN A HOLIDAY IS INVOLVED IS WHETHER THE
PAYORS BANK AND MELLON BANK (U.S. CUSTOMS CLEARINGHOUSE BANK) IS CLOSED
ON THOSE DAYS. IF EITHER MELLON OR THE PAYOR'S BANK IS CLOSED ON THE
HOLIDAY, THE PAYOR'S ACCOUNT WILL BE DEBITED ON THE FOLLOWING BUSINESS
WORK DAY. MELLON BANK WILL BE CLOSED ON THE FOLLOWING HOLIDAYS:
MONDAY SEPTEMBER 7, 1992
MONDAY OCTOBER 12, 1992
WEDNESDAY NOVEMBER 11, 1992
THURSDAY NOVEMBER 26, 1992
FRIDAY DECEMBER 25, 1992
QUESTIONS CAN BE DIRECTED TO YOUR CLIENT REPRESENTATIVE.