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I was asked to sign an “ACH authorization” to allow electronic access to my account in order to repay a payday loan. What is that?

  • Listed: August 12, 2022 3:34 pm
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I was asked to sign an “ACH authorization” to allow electronic access to my account in order to repay a payday loan. What is that?

An Automated Clearing House (ACH) authorization is a payment authorization that gives the lender permission to electronically take money from your bank, credit union, or prepaid card account when your payment is due. You can revoke this authorization.

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