ACH Factsheet: Westchester Property Management can now accommodate ACH payments for monthly dues.
What is ACH?
- Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches.
- If selected you would be permitting Westchester Property Management to initiate debits to your account for the monthly dues.
Must I sign up for ACH?
- ACH is an optional way to pay your monthly charges.
- If you would prefer to pay your bill in the current manner (non-ACH) do nothing.
How would I sign up for ACH?
- You would need to complete the Authorization Agreement for Preauthorized Direct Deposit
When would ACH become effective? When would my account be debited?
- Upon receipt of their ACH form you will receive a confirmation that the form has been received and when the ACH processing will begin.
- The debit occurs the between the 4th and 8th of the month
What would happen if my account had insufficient funds (“NSF”) to meet the scheduled ACH debit?
- If an NSF occurs WPMG processes (places the charge back on the owners account) and mails a new statement. Given insufficient funds and time needed to re-process, your failure to pay in time would lead to a late fee charge.
- Your bank may also charge a fee for NSF (each bank varies so best to check your bank’s policy).
If I sign up for ACH will I still get a monthly statement?
- Owners will not continue to receive a monthly statement. Your bank statement shall reflect all ACH
What would happen if HOA dues change and when the monthly assessment is over?
- No action is required by the owner if there is an increase in the monthly charges or an assessment. The revised amount will automatically be debited.
For additional information, please email Helen Castro via her Contact Form.
If you would like to sign up for ACH payments, please visit our ACH Sign Up Form page.