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ACH payments are a convenient way for business owners, individuals, and employers to use intuitive automated banking throughout their daily lives. Most small business owners and employers are turning to ACH payments instead paper check payments because of the ease and instant access the ACHnetwork provides.
According to the data, the number of ACH transactions in 2016 topped 25.6 2016 marked a significant year for the continued evolution and growth of the ACHNetwork,” said NACHA President and CEO Janet O. And it is this versatility that makes ACH payments a valued payment type and supports the continued growth of the ACHnetwork.
The claim, then, can be, if using directdeposit with a given FI, recipients will get their money by a certain time. The urgency is especially transparent with the gig economy, he said, “where people want to get paid by directdeposit”; and so, same-day payroll in that environment makes sense.
The purpose of Capitol Hill Day is to provide updates and continued education to Congressional representatives and staff regarding the ACHNetwork, payments, and operating rules. The ACHNetwork, conceived in the 1970s to replace paper checks for payroll, provides the backbone for the electronic movement of money and data in the U.S.,
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