An ACH bank charge is a transaction processed through the Automated Clearing House (ACH) network, a U.S.-based system that moves money electronically between bank accounts.
How ACH Charges Work
When an ACH charge occurs:
- A business or individual requests a payment.
- The request is submitted through the ACH network.
- Your bank either debits (withdraws) or credits (deposits) funds in your account.
- The transfer typically completes within 1–3 business days.
ACH transactions are not processed instantly like credit card payments—they are batched and settled in intervals throughout the day.
Where You Might See an ACH Charge from TaxSlayer
When you submit your tax return(s) using our software, you may be offered File & Go to pay your filing fees. File & Go allows you to pay your filing fees using your tax refund. For this process to work, the tax refund in question must be released in a timely manner. If the refund is not released in time, or is not released at all, the filing fees owed to TaxSlayer will be debited from the bank account on file.
Why Did You Receive an ACH Charge from TaxSlayer?
You authorized TaxSlayer to auto-debit the filing fees from your account if your refund is not released in a timely manner when you signed up for File & Go.
Are ACH Charges Safe?
Yes—ACH transactions are widely used and considered secure. Banks and financial institutions follow strict regulations to protect your information. However, always monitor your account to ensure all charges are authorized.
What To Do If You Don’t Recognize TaxSlayer's ACH Charge
If you did not file a return using TaxSlayer, nor had someone file a return for you using TaxSlayer, and you see an ACH charge, we suggest that you:
- File a police report so we can be subpoenaed for information related to the charge.
- Contact your bank and dispute the charge.
- Contact the IRS and verify with them that no tax fraud was committed in your name.
Key Takeaways
- ACH charges are electronic bank-to-bank transfers
- They are commonly used for automatic payments and direct deposits
- Transactions typically take 1–3 business days
- You should always review your account regularly for accuracy