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What makes ACH different from other electronic payment methods? ACH payments are grouped and then processed in batches four times per businessday by the National Automated Clearing House Association (NACHA). With its unique structure, ACH transfers work well for improving business cash flow.
Unless your business is intentionally cash-only, you’ll likely need to accept the major card brands such as Visa and MasterCard to stay in business. Many cash-only businesses have an ATM onsite, given how ubiquitous debit cards are. One such federal law is the ElectronicFundTransferAct (EFTA) , which passed in 1978.
They are an additional type of payment you can take along with debit card transactions and credit card payments from card networks like Mastercard, Visa, American Express, and Discover. Simply put, check payments are the analog version of ACH transfers. TL:DR ACH Payments are essentially digital check payments.
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