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ACH Check Processing-Bringing Checks Into the 21st Century

Adding ACH check processing to your business is a great way to reach more customers while streamlining your business.  ACH stands for Automated Clearing House processing and is affiliated with the Federal Reserve Bank.  It is the gold standard when it comes to accepting remote check payments.  Still one of the most popular methods for payment, checks have proven difficult to accept over the internet until recently.  With issues of fraud, lack of funds, and long transaction times, the process of accepting checks remotely has undergone a major overhaul to combat these issues. We all know that the internet is a great venue for doing business.  Whether setting up an online only store to keep overhead low, or expanding your existing business to the internet, you will benefit from the large number of potential clients.  By adding ACH check processing to your payment options, you can expand your amount of clients by reaching those who either still do not have a charge card or choose to not use one for online purchases.  Using the internet for commerce purposes can also make your sales run more smoothly and cut down on costs involved in processing them. ACH check processing can also add to your profit by decreasing processing costs associated with traditional checks.  Additionally, as the funds are typically deposited into your account within a shorter amount of time, you have much quicker access to the money you are making.  Any business owner knows that waiting for monies owed is a major drain on your time.  This ultimately affects your bottom line when you are constantly hunting down checks and wasting time following up with past-due invoices.  You are also now able to keep your bookkeeping up to date more easily. This payment process also cuts down on the amount of bounced checks and, thus, decreases the fees associated with this.  One of the major problems with accepting checks in a traditional brick-and-mortar store has been that there was no way of knowing if the customer's account had sufficient funds.  It might take up to a week or more to find out that the check bounced and are then hit with a fee from the bank.  Therefore, you are able to cut down on the number of bad checks that eat up profits while increasing your number of customers.  With all of the upgrades it has brought, ACH check processing represents the future of online payment.

Posted in ACH, Checks, Uncategorized on Nov 16, 2009