ACH transfers are considered to be one of the safest methods of secure money transfer because they are backed by federal law. Here is an overview of the security requirements that we employ while processing ACH payments.
As with any type of financial transaction, such as checks, credit cards and debit cards, various security measures must be used with ACH to ensure against fraud. These are required by NACHA (the National Automated Clearinghouse Association), the organization that administers ACH payments.
An electronic check is an electronic payment funded by the buyer’s bank account. Electronic checks use information found on the buyer’s check to carry out an electronic funds transfer. They can thus be processed through the ACH (Automated Clearing House) system.
Electronic checks are processed similarly to paper checks and are governed by the same laws […]