What does this mean? Saw it on my bank statement. “ACH – PROG ADVANCED INS PREM NSF FEE”?

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Elmer Mueller · Accepted Answer

ACH – Automated Clearing House (direct debit)PROG ADVANCED – Don’t knowINS PREM – Insurance PremiumNSF FEE – Nonsufficient funds feeIt means that your insurance company tried to take the money for your insurance premiums out of your bank account, but your bank account did not have enough money to cover your insurance premiums, so:1. You were charged a fee by your bank.2. You lost your insurance.

Elmer Mueller · Answer

NSF = insufficient funds.INS PREM is probably insurance premium.ACH = electronic transfer.So, it appears, you set up automatic payments with your bank account and then didn’t have enough in the account. Your bank will charge fees for bouncing the payment; the insurance company can have fees as well.

Elmer Mueller · Answer

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Elmer Mueller · Answer

You don’t have any money in your account and you made a purchase and they charged you a fee.I’m sorry ðSomething else i thought about was that even though they charged you a fee most banks now pay for the item then collect the money from you afterwards. So make sure that you know if it was declined for payment or already paid. It will be good if the bank has already paid it because sometimes if it is declined you will be charged a fee at the other end too. Just thought you’d want to know.

Elmer Mueller · Answer

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Elmer Mueller · Answer

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From other sources on the web citations this may be fraudulent.

Maximus VonRueden

What does this mean? Saw it on my bank statement. “ACH – PROG ADVANCED INS PREM NSF FEE”?

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