The Automatic Clearing House (ACH) allows Electronic Funds Transfer (EFT) in the form of a debit or credit. In this US governement-run system, money electronically transferred, for one time payments or recurring payments, from one bank account to another. Recent statistics show that ACH payments are definitely making an impact on the way today’s consumers make payments.
* 18.2 billion ACH payments made in 2008
* ACH helps expedite payments which helps to improve cash flow
* ACH payments were 16% of non-cash payments, but 41% percent of total non-cash value
* ACH payments help reduce time and money spent on collections
(Sources: Green Sheet, Federal Reserve Report)
The majority of consumers understand that electronic payments are safe, secure and convenient. ACH makes electronic payments easier than writing a check and eliminates late fees and postage. More and more consumers are requesting the benefits of ACH payments because it saves them time and money. Provide your customers with the option to pay electronically through one time or recurring payments.
Fort America Business Solutions offers ACH processing for both small and large merchants. Small merchants will use the FABS Virtual Terminal to process ACH payments, while larger merchants, software companies, and ISP’s may choose to integrate directly with the Gateway to process transactions. FABS can process ACH payments that are business-to-business, e-check, consumer bills, and e-commerce payments.
ACH Processing Features and Benefits:
* Eliminate trips to the bank
* Easy to set up and use
* 24 hour online reporting
* One time or recurring payments
How ACH Processing Works:
1. Written authorization from customer is obtained & customer initiates purchase
2. Transaction information is processed through our Gateway and the Automatic Clearing House through a variety of tools (virtual terminal, payment gateway, API or batch file)
3. Funds are electronically debited from consumer checking account
4. Funds are electronically deposited into the merchant’s bank account
Our ACH Services:
Check Guarantee
Imagine no more bounced checks or collection issues! Check Guarantee eliminates returned checks and bank NSF fees. Merchants can accommodate customers desire to pay by check, but get payment security similar to credit cards. As long as the check acceptance and customer identification requirements are fulfilled, the payment gets funded to the merchant, even if it turns out to be a bad check.
Check Guarantee is available with Check 21, Check Conversion, and Checks by Phone.
Check Verification
Check Verification helps reduce the risks of accepting checks. The consumer and their checking account are instantly screened through multiple databases and fraud detection systems. Sophisticated risk assessment features help identify high risk transactions instantly. Parameters are customized for each merchant.
Benefits* Highest approval rates in the industry
* Improved cash flow
* Reduce bad checks and fraud
* Reduce collection operations
* Automatic notification and resubmission of NSFCheck verification is available with Check 21, Check Conversion, Checks by Phone, and Checks by Web.
If you are new to ACH processing, or looking for cost-savings and increased revenue, FABS can provide the solutions your business needs. We offer quick merchant account approvals and customized solutions to provide the payment plan and fee structure that works best for you. To receive a free savings analysis, contact us or click on the “Free Rate Analysis” button below.
