This article explains what it means when your ACH payment is pending, how long processing typically takes, and what you should do while you wait for your payment to clear and be applied to your SRM or HEBLOC.
What “Pending” Means for ACH Payments
A pending ACH payment usually means your bank transfer has been submitted but has not fully cleared through the ACH network yet. ACH transfers are processed in batches through the banking system, so the payment may not apply to your loan balance immediately.
How Long ACH Processing Takes
ACH transfers can take several business days to process, typically 3 to 5 business days. Your payment will be applied to your SRM or HEBLOC loan balance once it clears.
Why Your Payment Might Still Be Pending
- ACH batching: ACH transfers are processed in batches, not instantly.
- Business day timing: Weekends and bank holidays do not count as business days.
- Submission timing: Payments submitted later in the day may begin processing the next business day.
What You Should Do Next
- Wait for clearing: Allow up to 3 to 5 business days for your payment to clear through ACH.
- Do not submit a duplicate payment right away: Submitting a second payment before the first clears can result in paying twice.
- Confirm your payment details: If you recently set up the transfer, confirm your bank account and routing number are correct.
When to Contact Support
Contact Peoples Reserve Support if:
- Your payment has been pending for more than 5 business days
- You received a notification that your payment failed
- You believe you entered incorrect bank details and need help correcting your payment setup