What are ACH Payments BNG Payments 3285 47th St S, Fargo, ND 58104

Automatic Clearing House has been an integral part of businesses for a long time. The payment process is a very important part of the entire business structure. The reason why more businesses nowadays are embracing the clear house payments is that they make faster payments and are designed in such a way that it powers a lot of businesses like insurance claims and it can also roll out emergency payment rolls. These transactions keep up with the change in the payment preferences of the clients and that is why ACH transactions are trusted by multiple businesses all over the world. Wondering what are ACh payments? Here is the full information. 

What are ACH Payments?

An ACH Transaction is a setup of payment between two different banks. In this arrangement, a transaction is set up between two banks in such a manner that the payment is debited from one account to the other on a specific date and the entire transaction is safe and there is no risk of any data leakage. There are many types of transactions that are involved in a business. They need to accept customer payments and also they need to make direct deposits, pay invoices and setting up ACH transactions simplifies the process of payment. 

The process of ACH transactions starts when the customer enters the details of the business name and the bank account where the payments are to be made. This information gets updated in the ACH network and the transaction details are aggregated along with all the other upcoming transactions that are going to happen in the ACH network of the bank. The ACH network processes monetary transactions three times each business day. Even as a customer if you have paid through any wallet, received any direct deposit or used direct pay, you as a customer and even a business owner have used ACH Transactions. This is how ACH Transactions simplifies payment processes in businesses.

The advantages of ACH Transactions

●    A study revealed that more than 90% of the workers of the United States received their wages each month through ACH direct pay. If you have the right payment software installed in the business with BNG Payments, all you need is a bank account number of the employee, and the bank must facilitate ACH transactions and the payment is directly submitted to the bank account of the employee.

●    The Automatic Clearing House transaction is the most secure way of payment. There is no option of financial data leakage and phishing because the ACH transactions are under the security provided by the National Automated Clearing House (NACHA). They follow all the commercial payment security guidelines which are placed by the federal government.

The ACH Payments is the smartest way to receive and pay to make a payment or get paid. After setting up the payment, the cost of each transaction is $0.20 and $1.50 per transaction. Therefore, get in touch with BNG Payments to set up ACH payments for the business.