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ACH stands for Automated Clearing House, a network managed by NACHA. The network enables the electronic transfer of funds from one bank to another by directly debiting a consumer or business checking or savings account. It is commonly used for payroll, bills and invoices, and tax payments. ACH transaction fees are lower than those of credit and debit cards, so it is a popular cost-effective payment type, especially for higher ticket purchases.READ MORE
Hands up if you can’t wait until the day the phrase “the check is in the mail” becomes totally obsolete. Though checks persist as a common payment form, and one some of your customers may prefer, they can really slow down your payments and be a pain to deal with: first you have to wait for a paper check to arrive in the mail, then you have to drive to the bank to make a deposit (or wait for enough checks to accumulate to make the time spent on this task worthwhile), and then you have to wait several more days for the check to clear.READ MORE
ACH payment processing operates via the ACH network. Every ACH transaction goes through a seven-step process involving six ACH payment processor entities. These entities include the originator, the receiver, the originating depository financial institution (ODFI), the receiving depository financial institution (RDFI), an ACH operator and the National Automated Clearing House Association (NACHA).READ MORE
Welcome to PJ University, where we teach you how to use PayJunction like a pro. Today’s lesson is how to run echeck payment processing.READ MORE
ACH payments, in which funds are drawn from a customer’s bank account over the ACH (Automated Clearing House) network, offers some distinct advantages over processing paper checks. Specifically, ACH payments can save you both time and money.READ MORE
If you accept payment via check, there are some compelling reasons to switch to ACH processing over traditional paper checks. ACH, which stands for Automated Clearing House, still draws on bank account funds, but this method of payment offers some key business advantages. Specifically, compared to paper checks, receiving payment via ACH can save time, money and is kinder to the environment at the same time.READ MORE