ACH Payments vs Paper Checks
ACH Payments allow you to electronically receive check payments without the need of receiving or depositing actual paper.
Both customers and businesses benefit by converting operations to allow for receipt of payments electronically.
Benefits include:
Customers
- Elimination of time and cost involved in depositing checks.
- Consistent availability of funds on a timely basis, even during vaction, illness, or business trips.
- Elimination of the possibility of lost or stolen checks
- Convenience of not having to write checks
- Elimination of postage expense and the risk of late payments
- Establishment of excellent payment and credit records
Merchants
- Reduction of administration and operating expenses.
- Human resource effeciencies.
- Reduction of clerical cost for account reconciliation.
- Elimination of stop payment charges and check reissue costs.
- Accelerated availability of funds.
- Better cash management forecasting
- Improved business relationships
- Certainty of delivery
- Reduction of bank service charges
- Reduction in check fraud
