These days, a huge number of people utilize an Automated Clearing House every day – often without even realizing it. ACH processing is a type of payment processing that uses a national electronic network. Instead of using old method of mailing in checks, ACH processing allows the use of electronic checks, credit card payments, direct deposits, and more. It's already estimated that almost half of all households in the country use ACH processing in some way or another, but many businesses and some individuals are still nervous about the overall security of this system.
There are a few different fears that people have about ACH processing security, but they usually come down to the following:
• Fear about personal data being stolen or 'leaked' • Concern that switching to ACH processing is complex and will cause confusion in a business • Worries about the stability and the 'backing' that keeps an Automated Clearing House operating properly
These three fears are valid, but a closer look at the security features this processing option has in place can quickly assuage most concerns entirely.
First, personal data is kept highly secure. Today's network is one of the most stable and secure in the world, protected on multiple levels by different security encryptions and protocols. It's far more difficult to access the information without permission than most people realize.
The system is also backed by the federal government, and the Federal Reserve Banks are the primary ACH processing operator. They handle over 60% of commercial interbank transactions, and are behind many other transactions as well. In other words, the stability of the ACH system is as solid as a rock.
As for the fears of switching over to ACH processing for companies, business owners have little to worry about. Setting up an ACH system is fast and easy to do, and practically any kind of bank account can be linked to it. Once it's set up, the process is simple to learn and use regularly. There's little chance of lost data or information, and efficiency usually picks up significantly.
Simply put, ACH processing is one of the best options there is for any business. It's used for such a wide range of things that it's actually hard to imagine commerce without it. And with more stability, better security features, and an overall more secure and safer system than ever before, there's really no reason to fear it or what it offers.