ananthar said:I was charged a $15 NSF fee this Saturday (5/19) for a ACH payment by US Bank that was scheduled for 5/21, and I transfered the required funds from my Presidential Savings account today (5/20). Even if US Bank messed up and sent in the ACH payment on Saturday I still don't understand how Presidential is entitled to process a payment on Saturday when Banks are closed. Note that that weekend ACF fees (and other weekend transactions) are not normally visible until Monday, but you can force it to show weekend transactions early by specifying the following Monday as the end of the date range (specify Tuesday and the transactions won't appear!).

This is a third time this has happened to me. The last 2 times I called to complain and they agreed to refund the NSF fees and claimed their computer automatically reverses NSF fees up to 5 times for similar cases (as long as the funds are transfered by 11am EST of the weekday the check is officially deducted: For example if you see an NSF fee at 10am on Thursday you have till 11am to transfer the funds from the savings account and the check will clear and the NSF fee is reversed automatically), but that I had already exceeded the maximumum 5 times. For some reason my US Bank credit card always schedules my automatic monthly payment on a Monday, but (according to Presidential) the payments are initiated by US Bank at 6am on the previous Saturday, so this problem happened each Month without me noticing for 5 months.
Every time (only once or twice, though) this has happened to me (usually with Fidelity), they will pull again one day later. If that one goes through, the NSF fee goes away without me calling them.

And, I think Monday ACH pulls get sent out Friday night or something, so I'm not sure what the rules are for processing them. Pretty much, I've found that with Presidential, you need to have the money in the account the business day before the ACH happens, as ACH is processed as the very first thing. I've had NSF when I had a scheduled transfer to deposit the same day, but ACH's get processed sometime overnight and scheduled transfers not until 7 or 8 AM.

I have somewhat similar issues with Bank of America and ACH pulls, where my overdraft kicks in because checks from the previous day are released after ACH pulls happen, but overdraft doesn't actually process a transfer unless the balance is still negative at the end of the business day (no deposits or transfers went into the account).