ACH 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.