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p Utilizingnbsp; a title=ACH Processing href=http://www.ACH-Payments.com/ACH target=_blankACH processing /a allows your businessnbsp;to accept payment from a checking or savings account electronically. Fundsnbsp; are debited from the customer and credited to the business owner. Paymentnbsp;issuesnbsp;such as bounced checks or closed accounts can be addressed through a combination of fraud screening and collection tools. This includesnbsp;the ability to verify in real time ( a title=ATMVerify Check Verification href=http://www.ACH-Payments.com/atmverify target=_blankATMVerify/a) that the account number the customer uses is valid and that there are fundsnbsp;in the account./p
pThere are many ACH service providers. nbsp;PayPal nbsp;is perhaps the best known. There are more economical br /options available. The processornbsp;you elect to use should have experience, a client list and easy to use web site integration tools. ACH Processinga title=ACH Processing Solutions href=http://www.ACH-Payments.com/ACH target=_blank /acan be much less expensive than creditnbsp; cards. On a typical $100 transaction you could pay $2.75 or more for a credit card as opposed to .35 ornbsp;less for an electronic check with no discount rate. Using ACH processing can also save a great deal of money if you receive an NSF (non-sufficient funds) check. Depending on what your bank currently charges ($20-$30)nbsp;you can save 90% or more./p
pAlmost any business, on the Internet or not, can benefit from using the ACH Processing system to electronically move money./p
pnbsp;Here are thenbsp; reasonsnbsp;why:/p
p1) Recurring payment collection/p
pIf your business collects a monthly [fee~charge] from customers or businesses and you only use credit cards you are paying too much and losing a significant percentage of users who would pay via ACH./p
p2) E-Invoicing/p
pYou can generate and electronically send an invoice with a Pay Nownbsp;link embedded. Yournbsp;customer can click the link and make payment electronically via thenbsp;ACH Network./p
p3) Accepting checks via your website /p
pEveryone knows you have to accept credit cards online. The problem for manynbsp;people is that theynbsp;either dont have a credit card or are at their credit limit. The vast majority of these consumers have a checking or savings account that you can access for payment./p
p4) Accepting checks via phone/p
pNACHA,nbsp; the governing body of electronic transactions, allows a business to br /electronically debit a consumers account for payment taken by phone. Similar savings to webbr /transactions are possible. You can offer a new payment vehicle to your customers and cut costs. Verificationbr /services can reduce your risk of accepting bad checks./p
p5) Electronic pay-outs/p
pIf you pay affiliates by mailing checks you could be electronically crediting their account. No postagebr /or invoice costs. Automation of payments is possible. You can also pay employees and vendors via ACH./p
p6) Processing mailed payments/p
pYour bank probably charges between $10-$20 for returned checks. You can convert these paper checksbr /to electronic ACH transactionsand get your money faster while avoiding expensive returns (NSFrsquo;s) and trips to your bank./p
pThese are 6 solid reasons your business needsnbsp;ACH Processing. The bottom line is that it can save youbr /time and money while offering customers a payment alternative./p
pPartner with a reputablenbsp;ACH Processor and you can enjoy the multiple benefits of ACH Payments. These include reduced costs and time as well as automating manual tasks./p
p*ACH refers to the Automated Clearing House and generically means money moves electronically./p
pcopy;2010 by Wayne Akey/p