What is the ACH Network?
The ACH Network is a highly reliable and efficient nationwide
batch-oriented electronic funds transfer system governed by NACHA
(National Automated Clearing House Association) operating rules. The
ACH system provides for the inter-bank clearing of electronic payments
for participating depository financial institutions.
ACH
Payments Include:
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Direct Deposit of payroll, Social Security and other benefit checks
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Direct Payment of consumer bills such as mortgages, loans, utility
bills, insurance premiums and many more!
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Business-to-Business Payments
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E-Checks by online payments, phone or fax
The ACH Network is
currently utilized by over 115 million consumers, 4 million businesses
and is accepted by over 12,000 financial institutions.
The number of
e-check payments exceeded 208 million in 2nd quarter 2004, a
791 percent increase over the previous year. This was the first quarter
that e-check payments exceeded the number of paper check payments.
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Call today to speak to a ACH payment processing specialist:
800-844-2044
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