Direct Deposit Now Availalbe System Wide

The ACH (direct deposit) system in the Reunion Planner is out of beta and available to everyone now. Most people here who wanted to use ACH already are, but if you've been waiting or are just about to start reunion planning, the ACH system is now live under your main Reunion Planner link.

Thanks Brad! This will come in handy for our next class reunion!

Hi Brad,

Would you explain this system in more detail please?

Thanks,
Dave

Sure. If you've ever collected money on PayPal and then sent in a request to have that money deposited electronically into your bank account, your using a system known as ACH, which really just means direct deposit.

What we've done is set up an ACH system very similar to PayPal or any other online direct deposit system. As you collect reunion payments and want your funds, rather than waiting for a bi-weekly check from Class Creator, you can simply ACH yourself your money whenever you'd like, which can take up to 5 business days (which is still a lot better than waiting 2 weeks).

It's pretty much as simple as that. Under your main Reunion Planner link you'll now see an option to turn on ACH (which is optional, you can still get paper checks if you prefer). Once you've turned on ACH, you'll then notice inside of your Attendee Management Area a new option to direct deosit your funds to your bank account whenver you want.

Let me know if you have any questions.

Brad - is there a charge for this service? In otherwords is this service like PayPal where a percentage is charged for using the service?

2 ACH direct deposits per month are included free of charge. 3 or more ACHs per month will inclur a $2.49 fee per deposit. If you can time your deposits so you're not making 3 or more in any 4 week period, you will be able to use the ACH system free of charge.

Brad,
I signed up for the direct deposit last week. I have been checking my account every day looking for the verification deposits, so that I can enter them in my Reunion Planner and complete the process, but they have not shown up yet. It has been 3-4 days. The notes say it takes 2-3 days. Is there anywhere I can take to see if the set up is in process?
thanks,
Melissa

It says USUALLY, but sometimes it can take up to FIVE BUSINESS DAYS (not counting weekends).

I checked and the deposit have been made, so you are probably just waiting for the BANK to post them. Maybe tomorrow or the next day.

Brad Switzer wrote:

I'm checking this math.. 3+ ACH per month will = $2.49 per deposit (is that after the 2 free ones each month?)

If you time your deposits... no more than 3 or more in a 4 week period... wouldn't it be no more than 2 in a week?

So, basically if I leave all the funds alone and just move them twice a month it would be at no cost?

That is right. Two per month are free. Since it is you that is requesting them, you can time them so there are no more than two each month.

I still have not received the deposits in my checking account, but you checked and see they have been made. Perhaps I listed the wrong account number? It seems it wouldn't take this long for the bank to post the transactions. How can I verify?

Melissa,

Please see the Private E-mail I sent you to verify the account information you provided.

Melissa, I sent you another private e-mail

Hi Brad
I'm not sure if there's a problem with the routing number I gave you. My account shows nothing from your system after 10 days. Please let me know.
David

David,

The deposits were made 12/12/10 7:53 PM. If you don't see any deposits online, try calling the bank. Our system says that the deposits were made successfully. If the bank doesn't have record of the deposits, you could just enter the Routing number & account number again. To do this, I would first delete the old values, then save the reunion planner, then enter new values and save the reunion planner again. If you do this, you would again need to wait the five business days.

Kyle

Thanks Kyle
After speaking with the bank, I did resubmit the numbers.

If you are running a second reunion, do you have to go through the whole process of setting up the echeck system again? My treasurer says that she is unable to move funds around like she was able to do on last year's reunion.

Jim - Your Reunion Planner is in "Pending" status and has a message near the echeck verification at the bottom of the page that says : 2 deposits were successfully initiated for Routing Number ending in XXX on 09/28/10 11:47 AM. These should appear in your account in 5 Business days, by 10/05/10. Someone will need to dig back onto the bank records for that date to located the 2 deposit numbers for the ACH to be hooked up.

Thanks Scott.