If you’re looking for an alternative payment method to offer your customers, you may be considering using ACH payments.Electronic payments are becoming increasingly popular among consumers and merchants alike. Old fashioned paper checks are on the decline. Yet, electronic check processing..
The ACH Network is an electronic payment processing platform through which monies and payment-related data flows. The network is a safe, secure, method for transferring consumer, business, and government payments. Billions of dollars are processed annually through ACH, including direct..
What are ACH Payments?For over 40 years, ACH payments have been used for electronic funds transfer in the US. The ACH network began mainly as a way to pay large number of people with direct deposits from the federal government for benefit payments (such as Social Security) and for corporate..
What is an ACH Processing Account?An ACH account enables you to direct debit funds from buyers’ checking or savings accounts and electronically transfer the funds to your business bank account. An ACH account captures sales from customers who do not have cards, are maxed out on cards, or..
Here’s a list of the most common standard entry codes for ACH payment processing: CCD-Corporate Credit or Debit-This application can be either a credit or debit application where funds are either distributed or consolidated between corporate entities. PPD-Prearranged Payment or Deposit-Direct..
The Federal Reserve has a new service beginning August 2nd called FedACH SameDay that permits same day settlement for certain ACH transactions. This is the first significant change the Fed has made in settlement times for the ACH network in 37 years.Banks can opt in as either originating or..