Automated Clearing House or (ACH) is a system that’s been established to facilitate financial transactions within the United States of America. ACH gives financial institutions an efficient way to communicate and transfer funds held within different banks in the banking system. Funds are transferred from an account in one institution to accounts at other institutions.
ACH transactions offer businesses a very efficient cost-effective way to move funds and accept payments. These fees are significantly lower than those offered through credit card processing. It is also more efficient than accepting traditional checks. With the ACH system it also gives you the ability to gather the customers information and set the payment to process at a future date giving you flexibility with your customers.
Many markets receive great benefits when processing with ACH transactions. Some businesses who benefit include those processing loan payments, bill payments, rent payments, subscription services, pre-arranged medical payments, just to name a few.
We can help you decide if ACH transactions are the right solution for your business and review the benefits that are offered by accepting ACH payments.