The Automated Clearing House (ACH) is a network for banks and financial institutions located within the US. The ACH network is regulated by the Federal Reserve and NACHA, the Electronic Payments Associations (formerly the National Automated House Association). There are more than $23 Trillion processed with ACH transaction every year, by far more than credit card transactions. We offer large government institutions, large and small businesses the opportunity to accept ACH payment via our payment gateway. Our rates are low and quite reasonable. We are one of the leaders in offering ACH merchant accounts today.
I will get into details of how this payment type can benefit companies that are not familiar with it. ACH is basically processing Check by phone or via a website (e-checks). Instead of physically collection checks from your customers, all you need is the routing and account number to be able to debit or credit a checking or savings account. The check clears within 24 to 48 hours instead of the 5 to 14 days it take for companies to take a physical check to their local bank for deposit. This payment type has been around for many years and is very popular with Accounts Receivable Class or Entry (ARC), any company offering recurring billing, Direct Deposit for employees as a payroll tool and much more. This is a highly reliable and efficient way to processing payments or transfer funds. It allows for high volume merchants to process unlimited transactions and to have chargeback above the 1% ratio as this is a flexible solution. Organizations, Government Institutions and financial institutions need to offer their customers all of the payments options that are available to them.
ACH transactions are different from credit card transactions because the fund is debited directly from the customer's bank account. Merchant can accept payments on their website, by phone or take a physical paper check and convert that into an electronic check. The reason why ACH processing save businesses money is because there is often no percentage rate involved for low risk merchants and there are no equipment to purchase.
For companies that offer membership services or recurring billing, this is the best solution out there as you have the convenience to schedule payments from a laptop or a computer this will save time and improve cash flow by automatically debiting your customers checking or savings account. This puts customers at ease because they don’t have to worry about forgetting to pay their bills and being charge a late fee.
We also offer check recover services for transaction that return Non Sufficient Funds (NSF). Please inquire about rates for collecting bounced checks for your business in you are only interested in this service. All of the accounts we setup are automatically setup for check recovery. Our ACH merchants accounts have additional services such as check verification and much more.
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