ACH Payments
We are in the process of having all of our grants paid ACH and are looking to have our scholarship payments paid ACH as well but I did hear that some colleges and universities still prefer check. Has anyone been successful in getting colleges and universities to make the switch to ACH? Also, are there any community foundation's paying all grants and scholarships 100% ACH?
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Hi Sally! I'm very interested in this topic. We are in the same position as you, with most of our grants going ACH now. Hoping someone else will add to this conversation!
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Hi. Our Community Foundation is in the early stages of preparing to have scholarship payments paid ACH. Was your transition to ACH for scholarship payments successful? Do most of the colleges prefer ACH over paper checks? I would love to hear how this new process was executed. Thank you!
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Also following, we've transitioned with regular grantees and vendors but not the scholarship recipients yet and looking to move that way too.
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I have a progress update. We included a memo with all of our 2024 scholarship checks— explaining our transition to ACH and asking colleges to let us know their process for receiving such payments. We had about 15 respond. Some just sent me a bank letter with all their information. Some had other special instructions. Only one response was a hard no. Definitely planning to do the same this year.
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Thank you, Sara! Do you mind sharing the memo that you sent?
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Sure, Layla— here it is. We printed it on bright yellow paper, and I included my contact information in the signature. I was surprised by how well it worked.
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