What is an ACH network?
Short for Automated Clearing House, ACH processes large volumes of credit and debit transactions electronically.
If you use direct deposit or your bank’s automatic bill-pay function, chances are you’ve utilized the ACH network.
If you’re still using paper checks, here are some reasons to consider switching to ACH:
- Low-cost transactions: ACH transactions cost as little as 15 cents, while mailing a business check costs about $1.22.
- Convenience: ACH allows you to set an automatic, recurring schedule for payment of your regular bills.
- Fast processing times: ACH transactions process within a day, improving cash flow and making it easier to predict account balances on any given day.
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