What is an ACH?
ACH stands for Automated Clearing House, and it is a financial network used for electronic payments and money transfers. ACH payments are a way to transfer money from one bank account to another institution without using paper checks, credit card networks, wire transfers, or cash.
What can cause an ACH return?
Wrong Type of Account (doesn’t support ACH transactions)
Insufficient Funds
Duplicate Transaction
Account Non-compliance
Payment Stopped
To prevent reversals, we recommend taking into account the following tips before initiating transfers from your account to Streetbeat.
Make sure that you have sufficient funds in your account for several business days after creating your deposit request to your Streetbeat account. We recommend this to allow time for the ACH transfer to complete, as there may be a delay in the ACH transfer request.
Make sure that you are entering all the right information for the bank transfer and account number.
Make sure that your bank account is able to accept standard outgoing/incoming ACH transfers.
Move your intended transfer money from your savings account to your checking account instead of transferring from your savings directly to your Streetbeat account.
IMPORTANT: If your bank rejects a transfer made, it will incur a $25 ACH return fee. In case your account is under a frozen status because of this matter, please contact our support team at support@streetbeat.com.
Need more help?
Contact our Streetbeat Support team using the "Talk to us" button in the app.