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5 Benefits of ACH Payments Over Check Payments

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ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% The average consumer commonly uses the ACH network for automated bill payments and larger transactions.

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The Top Payment Methods For Small Businesses

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It’s also perfect for businesses with a subscription-based (recurring payments) sales model. But while ACH transfers are cost-effective, long processing times that typically take 1-3 business days may make it unsuitable for certain transactions.

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What is an EFT Payment? Everything to Know About This Method of Payment

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Key regulations governing EFT payments include the National Automated Clearing House Association (NACHA) rules, which establish guidelines for ACH transfers, and the Payment Card Industry Data Security Standard (PCI DSS), which sets security standards for handling card information.