A C H

[Jambe]

Never having used ACH I wonder if someone would explain the process as it pertains to buying Elio shares. What are the options? (must I supply a checking account number?)

 

[Hotscoots]

ACH = Automated Clearing House . It is an electronic system that you 1st must authorize ( Elio) to debit your checking or savings account.
It is typically used to ensure that any transaction is sound . No bounced checks or credit reversals . They ( Elio) will simply pull available funds directly from you .

 

[LillyMayPatterson #1685 & #5648]

Ya, I had the same question. You will need to enter the routing number and account number of your saving or checking account. I felt safe doing it on the secure site provided. They take the money straight out of your bank. The wire transfer costs 20 bucks to do at your bank, this was free and easy to do.

 

[Ekh]

In case you don't know, the routing number is the long number on the lower left part of your check. The number to the right of it is your account number. Both will be needed for this transaction.

 

[LillyMayPatterson #1685 & #5648]

My bank changed names twice since I ordered checks. I just don't use many checks. The routing number on my checks is for my old bank. Ran into trouble the last time I did this. I have to carry my new routing number on a card in my wallet. Funny, the checks are still good.

 

[RUCRAYZE]

Just as Vin numbers can identify the car, so too routing numbers identifies the bank, always amazed when I talk to Geico, they ask for the vin, and then tells me make model and year.

 

[BlioKart]

If you guys use smartphones and your bank offers internet banking your account and routing numbers are on the website or bank app. They show up on my BofA app

 

[Hartka47]

I did the ACH transaction. I got an email conformation, and my shares show on StartEngine screen, but the transaction does not show n my on-line banking screen. The money is still there. Screen says something about it may take ten days. Is that what you have seen?

One bad part is that at the last screen there are two boxes ( accredited investor, or not) that you cannot check, and some fields you cannot fill in-- the solution is you just need to go to the bottom of the page and enter your name ( you never check the boxes or fill in those fields - you had already supplied that information on earlier screen) .

 

[LillyMayPatterson #1685 & #5648]

Hey Welcome Hartka, Glad you joined us. This is a great group. I did the ACH Friday and yesterday it wasn't taken out of my bank account yet. I am not worried. It just might take a full 10 days. Meanwhile it sure is weird seeing the huge balance in MY bank account.

 

[Johnny Acree]

Lilly and I were ready when the window was opened, and requested shares about the same time.
This morning I saw she said her funds were withdrawn so I just checked with my bank and my funds have been withdrawn also.
I don't know if this means any thing except things are progressing.