Choosing the right ACH company is a very important decision. This is not an area of your company that you want to trust to just anyone. Not only will your financial accounts for collecting payments be available to the company, so will all of your customers’ financial information. You must have reputable, trustworthy, and reliable ACH processing company at your disposal. You should check with the Better Business Bureau before entering into any agreement with an ACH company to see if there any unresolved complaints against the company.
Some will charge you a fee for each credit or debit transaction, while others will charge a set fee for certain number of transactions. Track any additional expenses or fees and make sure you are getting the right solution for you. Some ACH companies will also create a secure hosted payment page for your website, which can really be a great bonus.
ACH processing can save your company up to 80% off the cost of traditional collection and check processing fees. However, it can also save your company a lot of man hours. If you need to accept checks by phone or fax, that service is usually available, as well. You may want to set up automatic ACH payment withdrawals for customer accounts or you may only need one-time payments. The beauty of ACH processing systems is that you can set up only what you need. Some companies may need to send out payments to customers, and this too can easily be taken care of for your company.
ACH processing is really a great way for your company to streamline payments and collections. From the state of the art security for you and your customers to the decrease in losses for NSF checks, you will quickly see that this is certainly a time and money saving move for your company.
In today’s busy world, this is one service that can really minimize expense, while increasing cash flow.