ACH Electronic Payment Software
ACH/ EFT payments are electronic payments made through the Automated Clearing House Network. The network follows the rules and guidelines developed by the National Automated Clearing House Association (NACHA) and the Federal Reserve. NACHA regulates ACH payments and Direct Deposit to ensure timely payments, increase organizational and personal efficiencies and simplify financial activities. ACH processes large volumes of credit and debit transactions in batches. It is a simple form of payment by transferring money from one bank account to another.
CheckPlusCFO makes ACH Processing secure and efficient. ACH electronic payment software can handle ACH transaction for all sizes of financial institutions.
ACH Electronic Payment Software is used for the following payments:
– Business payments to vendors
– Business payments to service providers
– Government benefits payments
– Consumer transfers from one account to another
– Payroll payments to employees
– Tax Payments
– Consumer payments of insurance premiums
– Mortgage payments
CheckPlusCFO ACH module is flexible enough to select, from a single input file, which payments will be electronically transmitted and which payments will be printed as laser checks. Once the electronic payments have been processed, an e-mail notification can be easily sent to recipients notifying them of the payment or deposit. Email message can be customized according to customer preference and may include attachment with non-negotiable copy of payment.
Businesses can benefit from sending or receiving ACH payments. There is no wait for the check to arrive, no trips to the bank to make depositsand wait for clearance. It is much less costly then processing credit card payments. According to recent studies, a paper check transaction costs five times more to process than the same transaction processed through the ACH
ACH Electronic Payment Software Highlights:
- Increased security
- Reduce errors
- Decreased number of paper checks produced resulting in Reduced Costs
- Prevents possibility of lost or stolen checks
- Greater payment accuracy
- Reduced fraud susceptibility
- Laser checks and ACH transactions are managed from the same import file
- Improved cash management due to transaction settlement dates
Watch VIDEO of CheckPlusCFO ACH Electronic Payment Software in action
Contact us to find out more information about ACH Electronic Payment Software and if it is the right fit for your organization.