Additional Information for Homeowners Concerning Setting Up an ACH Debit

We had some questions concerning the right way to set up an ACH direct debit with the new management firm, so we talked to American Management of Virginia.  The instructions are below and also updated in the original post about the new management company from last week.  The Board highly recommends that homeowners set up an ACH so that your payment is never late and always of the correct amount.

To set up an ACH direct debit, use the “e-Payment” tab on the AMV website and fill in the information.  You can’t start an ACH until May, so you will need to make the 2nd quarter payment another way, but you can set an ACH up now for all subsequent payments.  Don’t click on any of the buttons at the bottom that launch the Mutual of Omaha Bank website.  By setting up an ACH, the correct amount will always be debited from your bank account when the amount due changes in the future or if we assess a special assessment.  If you go to the Mutual of Omaha Bank website, you can set up automatic recurring debits from your bank account, but you have to type in the amount to be debited and the frequency of the debits.  This is not an ACH.  So if the amount changes or if we assess a special assessment, you have to go to the bank website and change the amount or frequency.   It is a little confusing as to how to set up an ACH, so please pay attention to how you are entering your information.  If you have to type in a dollar amount, you are not setting up an ACH.

If you have any questions about making a payment, please contact Shanise Terry of AMV.  Her contact information is in a previous post and on our website.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s