3/10/2024 0 Comments Credit card charge ach debitWhen you use the ACH payment method your money is being electronically transferred from bank-to-bank with the help of an “ACH” or an Automated Clearing House network. Even better: they can be much cheaper than credit card payments and other forms of money transfer. They’re often used because they’re quicker and more consistent than other traditional forms of payment and provide an easy step to streamlining, and evening automating, your accounting. So, what exactly is an ACH payment?Īn ACH payment is a way of transferring money between financial institutions that uses the ACH financial network to quickly move money between bank accounts. If you know it or not, you’re probably using the ACH payment method to either pay or get paid for some portion of your business’s budget. 7.5 billion ACH payments adding up to nearly $18.9 trillion were processed in the fourth quarter of 2021. Let’s get started by just discussing what exactly an ACH payment is.ĪCH payment processing is an increasingly popular means of paying for goods or services electronically. In it we’ll discuss what exactly the ACH payment method refers to (and what ACH actually stands for), the differences between payment by ACH and payment by wire transfer, how ACH payments work, how to actually set-up an ACH payment and what the benefits of doing so might be. To help better understand what ACH bank transfers are we’ve put together this guide. But, like all things involving payment and payment processing, there’s a lot to know about ACH bank transfers and how they could be an appropriate, even beneficial payment method for your business. Which is where ACH bank transfers come into play.ĪCH–or Automated Clearing House–bank transfers are a type of electronic bank-to-bank payment that gives businesses a speedy and cheap way to send money between accounts outside of payment systems like credit cards or wire transfers. Smart business owners seek payment methods that provide fast, convenient, cost-effective means of getting payment into their accounts. Though this seems obvious, choosing the correct payment method for a business can be an enormous benefit to the efficiency and budget of a growing company. Making payments is a crucial part of running any business.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |