Chase business checking accounts currently charge a monthly $25 fee for the ability to send ACH payments. Beginning March 1, 2023, they are changing that to charging $2.50 per payment for the first 10 payments and then $.10 each payment. That’s good news for anyone sending low volume of ACH payments or those who have a small payroll.
Thanks to reader CF for sending this in. If anyone has an official link where the changes show, let me know and I’ll add it in.
I’ve used the Chase ACH payroll service twice and I was expecting to be charged immediately for using it, but I wasn’t charged. Do they just deduct the fees at the end of the statement cycle?
Does the $25 fee still get charged if no payments are made during the month? Just got hit with my first $25 fee, looks like it was because I made a ~$100 RTP from biz checking, last month I only made small (<$2) RTPs and did not get charged a $25 fee. Thank you!
I use Amex biz account and get this service for free
same
Amex biz checking is nice and fast, but doesn’t count as DD at the places I’ve tried.
Amex Biz ACH transfers to BoA counted as DD. There may be other banks where it counts as well.
Good to know. To clarify, I meant didn’t count as DD at places where it’s difficult to find anything that counts as DD, like SoFi and Yotta.
For anyone looking for a cheaper option… my Bank of America business checking is only charged $1 for a 3-day ach ($5 for same day). Not sure how fast the Chase ach is, but if you don’t do many and don’t mind waiting 3 days, then BofA is probably a better deal.
I used to use this from a business account to meet Direct Deposits with some accounts that were finicky about having “real” DDs. The fact they’re changing this to a flat $2.50 per transaction makes this a lot more attractive for the future.
“currently charge a monthly $25 fee for the ability to send ACH” — is this true? I never heard about this before and just double checked my account and it looks I never got charged?
You’re referring to a transfer from your biz account? Still ACH but I believe that the “send ACH” is more like a company sending direct deposit, a service they have been charging $25/mo. for.
I see. Yes, I was talking about the regular ACH in and out of my biz acct. Didn’t realize that are diffent ACH
Not familiar with this ‘sending ach payments’. How is it different than bill pay?
It’s used by businesses to send payments to employees and vendors
Side question – I only see the ability to upvote. How do comments get negative scores? Do some users have the ability to downvote?
Related question: how are people masking their upvotes and downvotes in comment history? Pleas gib me this power.
When a poster reaches a number of posts, north of 2k, their vote count disappears. There are some comments that say it’s not a choice, it’s a bug
Admins have the power to downvote posts they don’t like.
How many admin are there, and why are they so bitter?
Stan has got a -5 on a fine non-troll comment in the recent PYB thread.
You must all be seeing things. Downvoting has not been possible for dozens of months.
I assume stan got downvoted bc he asked for a spoon that cannot be provided because no one knows his situation.
You must be new to the internet. A low effort comment asking “tell me which one is gud” with no context is not much different from a troll comment.
3-letter agencies are watching. Only the woke comments are allowed.
It’s nothing to do with admins, downvoting is just hidden via CSS so anybody can downvote if they really want to
Just curious what was the reason for hiding it? Anyway, is there no plugin to disable the downvote button functionality for comments on WP?
There was an entire article about this. Try looking for it.
Pablo
Ok thanks. I probably should have done that first.
Was making things too negative in the comments
ssssshhhhh william you’re making it too easy
let the plebs figure it out themselves
Site note – upvotes and downvotes are just a social construct and don’t matter here because this is not reddit lindsay
I have no idea how they do the downvoting. I can’t do it.
Illuminati admin
Do ACH transactions sent to personal accounts end up counting as direct deposits?
That’s da question of the day.
Yes, as an owner of a Chase business account who uses their ACH sending service, I can confirm ACH transactions sent from Chase business to personal are always coded as direct deposits since they appear to be coming from a business.
And if the receiving bank doesn’t count them as a payroll DD, you have a much stronger case for getting them to fix their system (and pay you) if your deposits came from a business account.
I have not used Chase ACH Payment Services, but keep in mind that there is a difference between adding an account for simple ACH transfers and the Payment Services offering. You can add external accounts (in your name I believe) to Chase Biz for free. Those transfers sometimes count as DD, and sometimes don’t. They pretty much show as normal JPMorgan Chase transfers rather than with your business name or anything like that.
The Payment Services offering is more for payroll or sending money to vendors and such, and I believe they code differently. I’ve seen several data points that Payment Services is a very reliable way of triggering DD requirements.
Yes, they go thru as “direct deposit [my name, which is my biz name, too] payroll.” Sometimes it says “ach deposit” instead of “direct deposit.” It has always counted as a legit DD for me.
Not really, it also depends on receiving bank if it is not a real DD.
Even if thier system doen’s pick it up as such as first. When you call and tell them, to check they can sometimes see in their header that it is or they look a little further in the transaction history and there will be a deposit $0 with header or memo field saying: direct deposit verification transaction
Oh really…..