ACH Transaction

Is there a way to set up an ACH transaction using Quicken Bill Pay. To be clear I am not talking about the Billers (Merchants) all ready set up in Quicken but anybody I have an account number and ABA (routing) number for.

At this moment I am using PNC bank with direct connect and bill pay.

Thanks

Best Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited May 2022 Answer ✓
    PNC Bank offers a couple of different methods for transferring funds to external accounts (which requires both routing and account numbers).  But these require logging into your online account and cannot be done from within Quicken using Direct Connect Bank Bill Pay.
    If you want to send an ACH transfer to one of your own PNC accounts at another financial institution: 
    • From inside your PNC online account, click on the Transfer Funds tab and then click on Make an External Transfer.  You'll need to go through a little set up process but once it's set up you won't need to go through that, again.  Banks often charge a fee for transferring funds from their bank to another bank but this fee can often be avoided by logging into the other bank online account and setting up an External Transfer from there to pull the money from the PNC Bank account.
    If you want to send money to someone else:  From inside your PNC online account using bank account information, click on the Transfer Funds tab:
    • Click on Send a Wire or International Transfer.  There usually is a cost associated with wire transfers.
    • Or click on Send Money to People You Know and Trust and then select the Pop Money option which also allows you to send money for deposit directly to another financial institution using the routing and account number.  Pop Money is free.
    • Or click on Send Money to People You Know and Trust and then select the Zelle option.  This option uses an email address or a cell phone number or a Zelle QR Code, not the routing and account numbers, but once this process is set up for an individual or business it can be the fastest way to send money.  Zelle is free.
    (QW Premier Subscription: R44.20 on Windows 11)
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited June 2022 Answer ✓
    Thanks both of you but yes I was looking to set up a recurring ACH transaction to pay my HOA fee in my apartment, this is a small building and isn't set up as a vendor in quicken and they send a paper check, something I was trying to avoid. Oh well from what I understand Quicken does not offer this capability
    Both the Pop Money and Zelle options I mentioned above offer the ability to set up recurring monthly transfers.  No checks and no fees involved with either of them.  And both can be set up to send email notifications to both you and the HOA when transfers are sent so there is also a paper trail.
    I believe (not 100% sure) that Pop Money can be set up using the routing number and checking account number with no involvement needed by the HOA so it gets deposited directly to the HOA's account. 
    For Zelle the HOA would need to set up, too, IF they are not already set up with Zelle.  It is a simple process, using their email address or cell phone number. But after it is set up there would be no further action needed by the HOA.
    I have monthly recurring transfers from another family member's external checking account directly into one of my PNC Bank accounts.  It used to be done via Pop Money but that external bank stopped supporting that so now it is done via Zelle.  Both work flawlessly.
    (QW Premier Subscription: R44.20 on Windows 11)

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    The short answer is no.  
  • @mbshulevitz1 - your financial institution might have an alternative to Bill Pay for transferring money, especially to individuals.  My bank uses Zelle, which is popular with many financial institutions.  If you are looking for more of a commercial application, then I would suggest your FI as well.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited May 2022 Answer ✓
    PNC Bank offers a couple of different methods for transferring funds to external accounts (which requires both routing and account numbers).  But these require logging into your online account and cannot be done from within Quicken using Direct Connect Bank Bill Pay.
    If you want to send an ACH transfer to one of your own PNC accounts at another financial institution: 
    • From inside your PNC online account, click on the Transfer Funds tab and then click on Make an External Transfer.  You'll need to go through a little set up process but once it's set up you won't need to go through that, again.  Banks often charge a fee for transferring funds from their bank to another bank but this fee can often be avoided by logging into the other bank online account and setting up an External Transfer from there to pull the money from the PNC Bank account.
    If you want to send money to someone else:  From inside your PNC online account using bank account information, click on the Transfer Funds tab:
    • Click on Send a Wire or International Transfer.  There usually is a cost associated with wire transfers.
    • Or click on Send Money to People You Know and Trust and then select the Pop Money option which also allows you to send money for deposit directly to another financial institution using the routing and account number.  Pop Money is free.
    • Or click on Send Money to People You Know and Trust and then select the Zelle option.  This option uses an email address or a cell phone number or a Zelle QR Code, not the routing and account numbers, but once this process is set up for an individual or business it can be the fastest way to send money.  Zelle is free.
    (QW Premier Subscription: R44.20 on Windows 11)
  • mbshulevitz1
    mbshulevitz1 Member ✭✭
    Thanks both of you but yes I was looking to set up a recurring ACH transaction to pay my HOA fee in my apartment, this is a small building and isn't set up as a vendor in quicken and they send a paper check, something I was trying to avoid. Oh well from what I understand Quicken does not offer this capability
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited June 2022 Answer ✓
    Thanks both of you but yes I was looking to set up a recurring ACH transaction to pay my HOA fee in my apartment, this is a small building and isn't set up as a vendor in quicken and they send a paper check, something I was trying to avoid. Oh well from what I understand Quicken does not offer this capability
    Both the Pop Money and Zelle options I mentioned above offer the ability to set up recurring monthly transfers.  No checks and no fees involved with either of them.  And both can be set up to send email notifications to both you and the HOA when transfers are sent so there is also a paper trail.
    I believe (not 100% sure) that Pop Money can be set up using the routing number and checking account number with no involvement needed by the HOA so it gets deposited directly to the HOA's account. 
    For Zelle the HOA would need to set up, too, IF they are not already set up with Zelle.  It is a simple process, using their email address or cell phone number. But after it is set up there would be no further action needed by the HOA.
    I have monthly recurring transfers from another family member's external checking account directly into one of my PNC Bank accounts.  It used to be done via Pop Money but that external bank stopped supporting that so now it is done via Zelle.  Both work flawlessly.
    (QW Premier Subscription: R44.20 on Windows 11)
  • mbshulevitz1
    mbshulevitz1 Member ✭✭
    Thanks I greatly appreciate your comments and assistance
This discussion has been closed.