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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

Thats why 92% of consumers and 82% of companies reportedly made the switch to electronic payments, like Electronic Funds Transfers (EFT) and Automated Clearing House (ACH). EFT and ACH payments are fast, secure, and hassle-free. Another EFT type that businesses rely on is ACH. Checks can bounce, and cash can get lost.

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Same-Day ACH's First Phase Gives Banks a Platform, Not a Silver Bullet

Payments Source

Starting today, banks and credit unions will get two extra chances every 24 hours to handle Automated Clearing House (ACH) credit payments. But by itself, same-day speed may not be enough to meet the demands of an increasingly digital world.

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GreenBox POS Enables Same Day ACH Deposits To Business Accounts

PYMNTS

Payment solutions company GreenBox POS has announced a new Same Day ACH program to help businesses manage point of sale (POS) to business payments faster than usual, according to a press release. Usually, an ACH payment issued before the day’s 6 p.m. cutoff time takes until the next day to go through.

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Same Day ACH An Opportunity For Suppliers, Analysts Say

PYMNTS

Receivable Savvy, an accounts receivable and order-to-cash management firm, wants suppliers to see Same Day ACH as an opportunity to bolster cash flow. The company, which provides education and resources for suppliers, recently released a new eBook to guide vendors on how to take advantage of Same Day ACH technology.

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Nacha Adopts New Rules To Modernize ACH Payments

PYMNTS

Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. The amendments concern Same Day ACH and new ways of making ACH payments easier to use, the release stated.

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Instant ACH Transfers Online

Payment Savvy

The backbone of these developments is none other than America’s Automated Clearing House (ACH) which facilitates seamless electronic transactions between banks and financial institutions within its network. Instant ACH transfers have gained prominence as they cater to the increasing demand for expedited financial transactions.

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OnDeck Launches Same-Day ACH Service For SMB Borrowers

PYMNTS

In an announcement on Friday (April 5), OnDeck announced the rollout of its Same-Day ACH transfer functionality, enabling small businesses who have term loans or lines of credit with OnDeck to receive funds on the same day they draw on their lines of credit. on a business day. .