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ACH Payment Processing
Automate Your Payment Operations With Patel Processing.
ACH (Automated Clearing House) is a USA-based financial network meant for electronic transactions. Best ACH Payment Processing involves direct payments from one bank to another. These payments are devoid of any credit card servers, cash, or wire transfers. Being quicker and more secure than checks, ACH Payment Processing For Small Business can automate your account operations and provide you a cost-saving benefit over credit card payments.
At Patel Processing, we deliver reliable ACH Payment Processing Services. An ACH Online Payment Processing includes recurring payments, which can benefit businesses to a great extent. While it’s usable across the USA and Puerto Rico, its applicability is for savings and checking accounts only. The legitimacy, eligibility, and validity of every ACH Payment Processing Software is governed by the National ACH Association.
Apart from that, there are 2 more institutions involved in the regulation of different ACH payment processing stages. The ODFI (Originating Depository Financial Institution) is responsible for initiating payment gateway transactions. Such transaction requests are received by the RDFI (Receiving Depository Financial Institution).
Benefits
The Benefits of ACH Merchant Accounts
ACH merchant accounts have become a beneficial option for business owners for numerous reasons. Businesses are acquiring ample of advantages using the ACH payment solutions.
You’ve got to pay only minimal processing charges.
The ACH payment system levies the least of the processing fees amongst other kinds of payments. Having a merchant account for ACH payments can help you reap the benefits out of a flat fee. This further helps you save a lot as compared to other payment processing charges.
ACH merchant accounts eliminate the possibility of expiry-based declines.
As a business owner, it’s good that you have a checking account. These accounts do not operate based on debit or credit cards. Hence, there’s no question of anything that can practically ‘expire’. The outcome signifies the elimination of transactional declines while making ACH payments.
A time-saver and bearer of convenience for you and the customers.
It’s amazing how ACH payments have nothing to do with tangible instruments such as checks or invoices. Moreover, you would never have to visit any bank for ACH-related work. Imagine the magnitude of convenience you would experience with our end-to-end ACH payment solutions! Speaking of which, even your customers will like it more with the recurring billing cycles. This is because they won’t have to make their monthly payments manually using checks.
Features
Endow your Business with the Best ACH Payment Processing Solutions
Lower Fees, Greater Output
ACH processing charges are lesser as compared to other payment modes.
Speedy Transactions
ACH payment transactions are smoothly processed in a definite period.
Recurring Payments Unleashed
ACH payments can be accepted for recurring billing cycles.
Institutional Backing
ACH payment processing is governed by governmental institutions.
ACH Payment Processing Times
Usually, ACH payment processing takes about 3 to 5 business days in total. This is because ACH transactions are processed in batches. These might take a few days to be received in the form of a transfer. As per the National ACH Association, financial institutions can process ACH credit card payments either in one business day or within 2 normal days. In case of ACH debit payments, these have to be processed within the end of the succeeding business day.
Once the transfer is received, the receiver’s bank can follow a holding period for which the funds are temporarily held. This way, the average ACH payment processing time can average between 3 to 5 business days. More importantly, an updated regulation by National ACH Association came into effect in the month of September, 2016. It stated that ACH payment processing will debit thrice in a day rather than just once.
