The $18 convenience fee that saved my side gig last Friday

I do weekend invoice chasing for a tiny landscaping crew (don't ask, it's a favor for my cousin). Their clients kept paying with those instant transfer apps and I was eating 3% fees left and right, plus waiting 2 days for standard ACH to clear. Last Friday one client owed $1,200 and wanted to pay right then, I was about to just eat the fee again. Then I remembered my bank offers same day ACH for a flat $18 if I submit before the 4pm cutoff. Submitted at 3:47, money hit by 6pm, and the crew paid their supplier on time. That $18 beat the 3% fee and the stress of waiting. Is that flat same day ACH option common at other banks or did I get lucky? I've been sleeping on it for years.

2 comments

2 Comments

the_wendy1mo ago

That 4pm cutoff thing is what gets me. You submitted at 3:47 and it cleared by 6pm. Was that a fluke or does your bank actually process same day ACH that fast on a regular basis? I've seen banks advertise same day but then the fine print says funds available next business day. Also, is this a business account or a personal one? Because I swear some banks only offer same day ACH to business customers and hide it from regular folks. If it works that well every time, $18 is a steal compared to the 3% you were paying. I'd double check that it's not a one time promotional thing before you start counting on it.

miles_burns1mo ago

Honestly I'm impressed you even tracked it that close, I can barely remember what I had for lunch by 3pm. But yeah, this wasn't a fluke, I've done it three times now and all three cleared by 6 or 6:30. It's a business account, so you might be onto something about them hiding it from personal accounts, my buddy tried on his personal one and it still says next day for him. The $18 does feel way better than watching 3% vanish into thin air, but you're right, I should probably check if this is some honeymoon period thing they're doing. If it stops working next month I'll be the first one here complaining and eating my words.