Error Message | Outgoing ACH

Your online payment processing supports outgoing ACH payments.

Common outgoing transactions include: 

• Paying vendors for work performed, such as repairs and maintenance
• Owner Disbursements for Rentec PM clients
• Paying out Management Fees

Ensuring Security for Online Transfers

While most banks are supported for outgoing ACH transfers, to keep your account and funds secure, there is a short list of banks that are not supported for outgoing ACH fund transfers.

If you receive this error message and have been referred to this article, the routing number you've entered is not from a full-service bank that supports ACH fund transfers. 

Types of accounts that may not be full-service include:

• A point-to-point money transfer app, such as Cash App or Venmo  
• A prepaid debit card (often issued by convenience or big-box stores)
• Another banking service that does not validate the identity of its accounts as required by US law

Point-to-point services and prepaid debit card providers have a proven track record of failing to perform KYC (know your customer) checks, which identify and verify their customers, and, as a result, their customers are also too easily preyed upon by identity thieves.  As such, it is very risky to ever transfer money to an account held at one of these institutions because the money may not go to whom you intend it to.

Learn more about KYC (Know Your Customer) here:  What is KYC? Financial regulations to reduce fraud