This is a simple, secure and reliable service that enables individuals, large and small organizations to make payments by electronic transfer directly into a bank account.
It involves a debit to an account in the sender’s bank and a transfer of the amount of money directly into the beneficiary’s account in another bank.
Benefits of Ach Direct Credit
- Prompt receipt of Payments
- Saves time and effort
- Safer and more secure
- Quicker access to funds
- Allows bulk disbursement of funds
Benefits of Ach Direct Debit
- Assurance of payment
- Excellent cash flow benefits from receiving regular payments
- Low cost of administration compared with requesting consumer-initiated payments
- Improved control over payment timing
- Reduced time spent chasing unpaid or delinquent accounts
- Better accounting efficiency