What does this mean? Saw it on my bank statement. "ACH - PROG ADVANCED INS PREM NSF FEE"?

-ACH - Automated Clearing House (direct debit)

PROG ADVANCED - Don't know

INS PREM - Insurance Premium

NSF FEE - Nonsufficient funds fee



It 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.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.
You don't have any money in your account and you made a purchase and they charged you a fee.

I'm sorry :(



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.