ACH Payment Information
- Payment must be by ACH as authorized on page one of your institution's quarterly invoice. Check payments will be returned.
- If your institution, or correspondent bank, has ACH filters in place, the filters should be set to accept the FDIC assessment debit(s).
- ACH debits are sometimes bundled together. A debit amount might need to be unbundled in order to identify the FDIC charge.
- If you owe more than $99,000,000.00, you will receive multiple ACH debits that total your amount due. The debits will be in amounts of $99,000,000.00 plus a debit for the incremental amount needed to total to your amount due. For example, if your amount due is $358,000,000.00, you will receive three debits for $99,000,000.00 each and one debit for $61,000,000.00. This same policy applies for refunds greater than $99,000,000.00.
- If your institution is receiving a refund/(credit), we will contact you prior to the launch date to verify the refund/(credit) amount and to ensure the ACH account on file for your institution can accept a refund/(credit) amount.
- Negative confirmation of payment is provided after the launch. Your institution is contacted if your ACH debit/(refund) rejects. Failure to make prompt payment can result in a civil money penalty. (See Penalties and Late Interest Charges below.)
ACH Changes or updates can only be submitted through our secure website, FDICconnect, by your institution’s FDICconnect coordinator or authorized user. To change ACH information, your coordinator or authorized user should:
- Go to: https://www.fdicconnect.gov
- Select Deposit Insurance Assessment
- Select Assessment Actions*
- Click the tab “Update ACH Information”
- Complete the required elements on the screen
- Place a checkmark in the Acknowledgment Box at the bottom of the screen
- Press Submit
*For those who need access to the Assessment Actions transaction, a coordinator can turn on the transaction by following the steps at FDICconnect , an authorized user must request access to the transaction from their coordinator.