Direct deposit is an electronic payment from one bank account to another. For example, funds move from a donor’s bank account to a charity’s bank account. ACH stands for the Automated Clearing House network, and refers to electronic payments made through banking computers. The ACH is the processing that occurs between nationwide networks of financial institutions that send electronic messages, via telecommunication lines instead of paper (checks), to transfer money between two parties.
Benefits of the ACH Network
- It takes time for checks to move through the mail.
- Checks can be lost or stolen in transit.
- Errors can be made when printing the check and when reading the check.
- Fraudulent checks are easily printed.
- Tracking payments you have made by check is cumbersome.
- Stopping payment of a check is expensive.
- It is not as easy to automate check payments.
With the ACH, network transactions move through the system in one or two business days.
Your checking account will be debited and a donation made to the Food Literacy Project by automatic transfer on the date and in the amount you choose. If you choose to stop your automatic transfer donation you would let your bank know before the debit date.
How do I set-up donation to the Food Literacy Project via ACH transfer?
Contact the Food Literacy Project at 502-491-0072 or Rebecca@foodliteracyproject.org. Rebecca will provide you with necessary information for your bank to set-up the transactions(s).
The Food Literacy Project
9001 Limehouse Lane
Louisville, KY 40220
Call your bank with the information needed for the transfer, including the following:
- Check Name
- Bank Name
- Bank Routing Number
- Checking Account Number
- Donation Amount
- Donation Date
- Donation Frequency