Q: What is ACH ?
ACH stands for Automated Clearing House. It is the electronic funds transfer system used to transmit funds such as direct deposits, collections, tax files and other monetary transactions from one account to another.

Q: What is NACHA ?
NACHA stands for National Automated Clearing House Association. The ACH system is governed by the rules of the National Automated Clearing House Association. This system provides for the interbank clearing of electronic entries for participating financial institutions.

Q: What is ODFI ?
ODFI stands for Originating Depository Financial Institution. This is the bank or financial institution that transmits your ACH files directly to the FRB (Federal Reserve Bank).

Q: What type of ACH file format do you support?
NACHA format.

Q: How do I transmit my files to your company ?
Just send us your NACHA formatted file via our web site or FTP. You will need an Internet connection such as DSL, Cable or a Dial-up to access our website.

Q: What kind of Internet connection (speed) do I need ?
Preferably, DSL and Cable connections offer an Internet speed of 125 Kbps to 256 Kbps. However, Dial-up connections of 56 Kbs are also acceptable, but will take longer to transmit.

Q: How much time does it take to transmit an ACH file to Cachet ?
Transmission (file uploading) time varies based upon the size of your file and the speed of your Internet connection. DSL, Cable and other high speed connections typically take only a few seconds. However, if you are using a modem, then it may take more time to upload based upon Internet traffic.

Q: What Internet browser software do I need to use your system ?
Any browser that has a minimum of 128 bit encryption. For maximum data security we recommend any browser Internet Explorer version 5.01 SP 1, 5.5 SP 1, 6.x with SP 2 update on Windows 2000, Netscape Navigator / Communicator version 4.73 or higher, etc.).
You can verify the encryption by selecting the Help Menu in your browser and then selecting About Internet Explorer (or About Netscape Navigator, etc.).

Q: What is our cut-off time or transmission deadline?
Our transmission deadlines are 10:00AM PST for same day processing and 5:00PM PST for overnight processing, Monday - Friday (except holidays). Please feel free to review the FRB's holiday schedule for black out days.

Q: What type of transactions can I send via ACH ?
Direct Deposits, Fee Collections (billing), Tax Payments (federal and state), Agency Checks, etc.

Q: What is the benefit to sending Tax Payments via ACH versus EFTPS ?
By sending all your tax payments via ACH, you are simplifying and reducing the time required by your company to compile a client's information. Your company is able to consolidate tasks, which reduces the likelihood of errors.
In addition, your company can quickly and easily reverse an NSF or overpayment via ACH. With EFTPS, overpayments and reversals are possible, but very time consuming and difficult to perform.

Q: Is there a limitation on how many files or records we can send ?
No.

Q: Is there a dollar amount limitation to the files ?
No.

Q: What software do I need in order to generate ACH files for your system ?
Any software that generates NACHA formatted files.

Q: How do I determine which Cachet System would be best for my company?
We can help you determine which system would suit your company's needs. Contact us for more information.