Category Archives: ACH Payment Processing

What is ACH and Check Processing?

ACH and Check Processing ServicesACH payment an electronic payment system made through Automated Clearing House network. ACH is a secure method of transferring payments without errors, fast and time-saving. The Layman’s term defines ACH payment processing an electronic transfer of money between two accounts without the physical movement and paperwork. There are many typical uses of ACH Payments, as paying fees, bill payments, transacting funds from one bank account to another. Using ACH Payment processing solutions is eco-friendly because natural resources like paper or fule are hardly used to complete the transaction. All the transactions are made is being electronic.

The blog lists top Benefits of ACH and Check Processing for Merchants

  • It eliminates the heavy deposit fees and NFS return fees on those check not clearing. Radically reduces the banking fees.
  • All the checks processed and returned electronically are charged with little transaction fees.
  • Electronic fund transfers are processed in 1-2 business days. Fater transaction leads to faster NFS notification.
  • Fastest settlement of payments, checks are processed ahead of the paper item and cleared or precluded faster.
  • Saves money virtually eliminates the cost associated with preparing an electronic invoice.
  • ACH Payment Processing reduces the overhead costs. It is less costly and charges a flat fee per transaction of total sales.
  • The easy settlement the system matches the paid checks and list those checks that did not clear. All the NSF checks can be automatically resubmitted.

While accepting e-checks both the merchants and customers save money as the processing fee for e-checks is too lower than other types of online payment processing systems. Accepting card payments also include transaction fees this can be avoided with ACH Payments by the customers.

Radiant Pay specializes in ACH and Check Processing helping small and biggie industries to reduces the overheads cost and increase the sales with our tailor-made electronic payment processing solutions.

How ACH and Check Processing Beneficial for Online E-commerce Store

ACH Payment Processing for E-commerceAlmost every potential customers have credit and debit cards in their pockets and many who do not owns both. ACH and electronic check processing offers you varieties of payment options and gives you the ability to augment your credit card payments by offering the same convenience to this large and underserved market—for less than half the cost of credit card processing.

Some Effective Benefits of ACH Payments


Effectual than traditional checks –
choosing the ACH payments is faster and secure than just to wait for a check to clear. Electronic check acceptance is higher security and priority than paper checks. Easy and fast clearing helps your cash flow.

Alternative Payment Options – E-Check processing offers varieties of payment options as best possible. Of course cards payments diversify the traditional payment acceptance but ACH Payments give customers without cards. It simply prefers to pay with bank debit card an alternative to cards.

Cost Effective – ACH payments are cheaper than normal card processing. Small and standard merchant’s flat rates can apply. For high-risk merchants, ACH payment processing rates are always less than cards.

High-Level Security – ACH Payment method is the most advanced and secure method of electronic fund transfer in the world. Millions of business, consumers, financial services, and government agencies use the ACH network to receive and send payments.

Accepting ACH Payments? All you need to know about

ACH Payment ProcessingPayment acceptance gives many options to both merchants and consumers. Thus it gives diverse business opportunity to expand and grow business according to national and international market. Merchant specially enjoy the advance payment options that does not cost too much to process the transaction. There are many payment options to process easy and convenience transaction and one such best option is ACH Payments processing that does not cost much as other payment processing charges for per transactions.
One best thing about ACH Payments V/S Credit card processing the fees is less than credit card transaction fees.  Almost 60% of UK Businesses merchants accept this type of payment that are low cost and highly secure according to NACHA, a total of $38.7 trillion was transferred via ACH in 2013, an increase of almost 5 percent from the previous year.

ACH Payment is best known for its advance system i.e. replaces paper checks and less chance of returning checks. It allows business to receive an electronic payment directly into bank account. Commonly known as e-check.

How ACH Payments are different from other cards
ACH Passes the card networks and therefore bypasses interchange and assessment fees. This generally makes ACH far less expensive than card payments.

Modernized E-business with Electronic Check Processing

electronic-check-processingThe modernized world demands fast, easy, secure and convenient services in different industry sector. And yes, this modern payment technology enables many people to enjoy the benefits of easy, fast and secure payments.

The emerge of electronic check processing given huge advantages in the payment industry, turned paper work into electronic transfer. Electronic check processing also known as e-checks and became an essential part of modern businesses.

How can you Modernized Business by E-checks?

E-checks are classifieds as the most valuable and modern types of payment transfer system for hassle free and low cost method of getting paid quicker. E-payment helps merchants to settle transaction and meet the payment processing needs without obstacles. The e-checks started over traditional checks given comprehensive range of services.

Electronic check processing enables merchants to transfer funds electronically from one bank account to another. Electronic check processing use Federal Reserve Bank’s ACH to transfer funds. The merchants enjoy speedy deposit without wasting valuable time. The service provides benefit like minimize the risk of check stolen or lost.

Check processing solutions increase revenue, reduce overheads cost and time consuming process to transact funds from one account to another. The merchants able to give valuable time to material things in planning, pricing and quality of product and services.

Benefits of E-check Processing                      

Eliminates the daily trips to bank for deposits and payment transaction.

Reduce the time to have funds from checks deposited into a bank account.

Reduces the chances of check stolen, lost and bad checks

ACH transfer is less expensive and can be done in batches

 

Wire or ACH? Which Payment Transfer You Will Choose?

ACH and Wire Transfer Payments
Online Safe and Secure Money Transfer Services

Banks use Automated Clearing House to Transfer Funds Electronically from one bank to another in safe and secure way. In these digital economy people and business firms would like to receive payments through direct deposit. As they find more convenient these method rather than using checks. This electronic transfer of money from one place to another is called ACH OR Automated Clearing House. Whereas wire transfer allows you to move your money from your account directly into the account of someone else.

Let’s Checkout the Difference between ACH and Wire Transfer

ACH Transfer – The electronic transfer of funds from bank account to another. Payment transfer is not occurring on real time the transaction is settled on future date.  Transactions are entered with a date to settle which is normally the next day.  Payments are transferred by your banks in groups or batches along with all their other customer’s scheduled payments, usually at the end of the business day. ACH Transfer is less expensive and can be done on batches. ACH cost banks $0.035 per transaction or $0.025 per transaction in bulk. ACH Transfer is given to customers in between $0.10 and $2.50, depending on volume. ACH by definition is meant to be automated, and meant to be delayed settlement, thus the lower cost associated.

Wire Transfer – It is similar to ACH Payments but have some few differences. Wire transfer perform task on real time and cannot be done on batches, performed manually. Wire transfer is more expensive than ACH Transfer. When an individual make wire transfer, both account holders are verified with the exact money in the account. Wire transfers are fast and secure; and since they’re handled individually by the banks.

Transferring funds, either by ACH or wire, is generally safe when using a financial institution. However, if your computer has become infected with malicious software (malware), cybercriminals can steal usernames and passwords and defeat common methods of user authentication employed by financial institutions.