[Ohio-talk] scrip now

[Kelly Prescott]

Colleen and all, I am going to explain PrestoPay as it relates to the
banking system so we can hopefully clear up some of the confusion.
PrestoPay is the ShopWithScrip Name for a process called ACH or Automated
Clearing House.
This is part of the federal reserve system that processes check payments and
direct deposits in the United States.
This is the exact system that handles direct deposit for payroll checks,
Social Security checks, and handles payments to utility companies, and other
merchants which are using the US banking system.
I am including a federal reserve small explaination of ACH so you can read
it...
If you ask your bank about ACH, they will know exactly what you are talking
about.
You can even take this email to show them and they will verify that this is
correct information.
Here is the federal reserve information.

Automated Clearing House (ACH) is an electronic network for financial
transactions in the United States. ACH processes large volumes of credit and
debit transactions in batches. ACH credit transfers include direct deposit
payroll and vendor payments. ACH direct debit transfers include consumer
payments on insurance premiums, mortgage loans, and other kinds of bills.
Debit transfers also include new applications such as the point-of-purchase
(POP) check conversion pilot program sponsored by NACHA-The Electronic
Payments Association. Both the government and the commercial sectors use ACH
payments. Businesses increasingly use ACH online to have customers pay,
rather than via credit or debit cards.

Rules and regulations that govern the ACH network are established by NACHA
(formerly the National Automated Clearing House Association) and the Federal
Reserve. In 2002, this network processed an estimated 8.05 billion ACH
transactions with a total value of $21.7 trillion.[1] (Credit card payments
are handled by separate networks.)

It is perfectly ok if you are not comfortable using the system, but this is
just to provide you with correct information on what it is and how it
functions.



-----Original Message-----
From: ohio-talk-bounces at nfbnet.org [mailto:ohio-talk-bounces at nfbnet.org] On
Behalf Of COLLEEN ROTH
Sent: Tuesday, November 22, 2011 8:18 PM
To: ohio-talk at nfbnet.org
Subject: Re: [Ohio-talk] scrip now

Hi Shelbi,
I asked the Bank today and they did not know what Presto Pay is.
Can you just go somewhere to put cash on a Presto Pay account? 
If not, I guess I would rather use a check.

Colleen Roth



----- Original Message -----
From: Shelbi Hindel <shelbiah at att.net>
To: "'Ationfb of Ohio Announcement and Discussion List'"
<ohio-talk at nfbnet.org>
Date: Monday, Nov 21, 2011 10:50:44 AM
Subject: [Ohio-talk] scrip now

>
>
> I want to let everyone know that K-Mart has joined the instant 
> shopping method, Scrip Now.  NFB-O will receive the same percentage 
> donated as with the traditional gift card.  Sears has also joined this
method of shopping.
> Sears will be contributing an extra 3 percent from now until December 2.  
> Shelbi
> 
> 
> 
> _______________________________________________
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