Isn’t It Better To Switch To Accept ACH Payments?
Every business owner wants to use a payment method which should be convenient, simple to process, and the essential thing is time saving. Rather than using ordinary payment options like debit card payments and credit card payments, nowadays, the business started to accept ach payments which are an electronic payment method. That is passed through a big ach network of several financial institutions and banks, known as an automatic clearing house.
The best part of ach debits is that it allows a customer to make payments like high risk ach processing electronically even if the customer didn’t have any credit card for fulfilling the transactions.
Ach payment method allows the customer to ach transfer funds directly from the bank account towards the business merchant’s bank checking account.
If you do a regular fixed amount of funds transfers like a loan EMI payment or any utility bill payments. You can easily schedule the payments which will automatically get deducted in the regular interval of time as per the mortgage payment schedule.
Why Business Merchants Prefer To Accept Ach Payments
- Simple to process: If we compare easy ach payments with regular paper check payments, they tend to take a hell lot of time to get processed with a very chain of the process for authentication. They are very difficult to maintain the record of check payments, and there are chances of the paper checks getting lost. But in the case when a merchant accepts ach payment, they get transferred electronically, and thus it reflects quickly into the receiver bank account. Therefore, this makes it a more reliable method for payments.
- Accessible To Transfer Payments: With the help of ach payments, a business can easily accept payments through its customers and business to business ach from any part of the country with the help of domestic ach payment in real time with instant ach payment settlement. There is no need to take credit card information from your customers regularly so no issue of any sensitive credit card pieces of information scams or frauds.
- Low Processing Fees: When a business accepts the credit card payments for their business products and services, they need to pay a processing fee for the transaction towards the processor with monthly fee charges. But in the case when a business merchant accepts ach payments for the services and products being sold online, if a business merchant agrees with a lot of payments through ach payments, this can help you to save a lot of money just by accepting payments through a seamless method of payment like ach.
Benefits For The Consumers To Pay Through The Ach Payment Method
- Automatic payment: If you have to pay regularly for the mortgages or utility bills, you can select ach payment method to pay so that you don’t need to check for the deadlines because of scheduled autopay instructions for the payment.
- Seamless Payment Method: A third party ach processor helps a customer to use an electronic method of payment so that it gets settled quickly into the receiver’s bank account. Rather than writing the paper checks and then mailing it to the business merchant.