What is ACH Payments?
Ach payments are becoming very famous now a days.Ach payments are processed as an electronic transfer of funds from one bank account to another. Ach check processing is quick, convenient.
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- 9 years agoFavorite Answer
ACH payments are electronic payments made through the Automated Clearing House (ACH) Network. Using ACH payments can help reduce errors, speed things up, and save resources. Because they’re electronic, ACH payments use fewer resources (paper, ink, fuel to transport checks, etc). In addition, ACH payments make it easier to keep track of finances. Instead of generic check information on a bank statement, you see the other party’s name if you’ve used an ACH payment. Then it’s easier to categorize the transaction with your financial software.
ACH payments can be electronic from start-to-finish, or they can happen when a paper check is converted and processed electronically.
- 9 years ago
ACH stands for "Automated Clearing House." It is an electronic network for financial transactions in the United States. ACH payments are simply electronic transfers from one account to another. ACH payments for individuals are typically used to pay businesses directly from your bank account for such items as insurance or utilities.
ACH payments are also used by businesses for such things as depositing money into an employee account or paying a vendor.