This article explains whether you can pay early or make extra payments using ACH, how early payments are processed, and what to keep in mind when submitting additional payments for your SRM or HEBLOC.
Can I Pay Early Using ACH?
Yes. You may submit ACH payments earlier in the month if you prefer. Early payments are allowed and are processed the same way as regular ACH payments.
ACH payments are applied to your loan balance only after they fully clear through the ACH network.
Making Extra Payments via ACH
You may submit additional ACH payments beyond your regular payment amount. These payments are processed as standard ACH transfers and applied once cleared.
- Extra payments must be initiated from your bank account
- Each payment is processed separately through ACH
- Clearing timelines still apply to every payment
Timing Considerations for Early Payments
Even when paying early, ACH timing still matters.
- Payments submitted earlier in the month generally have more time to clear
- Weekends and bank holidays do not count as business days
- Payments submitted late in the day may begin processing the next business day
Important Things to Know
- Early or extra payments do not process instantly
- Do not submit duplicate payments unless you intend to make multiple payments
- Payments are applied only after they clear through ACH
When to Contact Support
Contact Peoples Reserve Support if:
- You are unsure whether an extra payment has cleared
- You believe a payment was submitted in error
- You have questions about how a payment was applied to your loan