ATF ACH Transaction

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vrocco
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ATF ACH Transaction

Post by vrocco »

Just sent in a check to NFA Branch about a week ago. Today it posted to my account, not as a cleared check as it previously has, but as an ACH withdrawl. Is this a new thing the NFA Branch is doing? How far are we from just being able to pay the tax online? And if that happens, how far from being able to submit the Form 4 online?

Thoughts?
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este
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Re: ATF ACH Transaction

Post by este »

From what I heard a lot of banks are switching to ACH vs normal checks
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Wahnsinn
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Re: ATF ACH Transaction

Post by Wahnsinn »

It's been going on for years now since about 2003 when the whole Check21 process started. People were able to digitize checks instead of having to pass the paper check on to the bank. Also now able to read the MICR account info from the check and digitize in that fashion to electronically "cash" your check.

That's why you'll see a disclaimer when paying by check at a lot of places, stating that you are notified that they may/will convert your paper check to electronic and it will cash immediately instead of having a float like paper checks used to.
vrocco
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Re: ATF ACH Transaction

Post by vrocco »

When a check I mailed clears my bank, I can actually see the canceled check online. This was different. It was listed as an ACH online and I could not see the canceled check. I did a can about 6 months ago and they actually deposited the check (I could see the canceled check online).

I know ACH has been around for some time. I'm just saying this is a new one for the BATFE.
yamatitan
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Re: ATF ACH Transaction

Post by yamatitan »

Its pretty knew to the ATF they started doing it around January of this year.
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Wahnsinn
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Re: ATF ACH Transaction

Post by Wahnsinn »

Makes sense for them to, anyone dealing in a large volume of checks, that way there's no courier (or however you do it at your business) to take checks to the bank, have one person to run them through whatever scanner (MICR or digital). Maybe with budget issues, they found a place to save some cash.
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DarkStar
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Re: ATF ACH Transaction

Post by DarkStar »

I send USPS money orders...
Call me paranoid, but after writing ACH payment software for the local government here to collect taxes, I just don't like giving checks or account information to anybody...
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JohnInNH
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Re: ATF ACH Transaction

Post by JohnInNH »

It should have your check # but does not. BOY does that SUCK! Imagine all your checks not having your check # on the statement. ACH should be made to put you check # on you statement.

I write a good 15-20 checks a month.
Long distance, the next best thing to being there!
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