How long does it take for an ACH direct deposit to be in my Yepzy account?
Employers who pay via direct deposit use the ACH system. The Automated Clearing House system is used for electronic funds transfer between banks. This system is available between all US banks. When a bank releases funds to another account in a different bank via ACH, that transaction can take up to 5 days to clear. Typically, money released from a US Bank to another bank will be available in the receiving accounts within 3 business days.
This delay is due to the rules of the ACH process whereby the sending institution can cancel the money transfer within 3 days. After that, the money is sent and there is a no way for the sending bank to get the money back. During the 3 days, the sending bank also confirms the account information to ensure that the receiving party information matches the instructions. If there are any discrepancies, the sending bank will typically cancel or reject the ACH.
For reference, here are more details on the ACH process: ACH Process Details