It is important to note that Express ACH is a Novo term and utilizes the Same Day ACH rails offered by Nacha to provide you a faster settlement speed for your payments.
Please see below the logic and meaning behind the different description titles:
|Transaction Description||[Payee Name]|
|Fee Description||Fee for [Reference ID] to [Payee Name]|
This is the transaction type that will appear for any outbound ACH payment
|Same Day ACH Service Charge||This is the transaction type that will appear for the fee associated with any outbound ACH payment|
|Express Delivery Fee||This is equal to 1.5% (min $0.50, max $15) of the transaction amount|