The most obvious benefit to an ACH payment would obviously be the speed at which the payment for your goods or services are transferred to your account. Remittances are typically transfered in the early morning hours before the banks are open, with this being the case ACH payments are processed before paper items, and available funds are committed to those ACH items on a first in, first out basis.

Another benefit is automatically realized by your businesses accounts payable department. As your customers adopt ACH as their preferred method of remitting payments there will be a direct reduction of paper check processing. With the addition of check processing scanners, even customers who insist on paying with a paper check can have the funds for their payment processed easily through ACH.

As the economy continues to tighten it’s belt there are ever increasing concerns regarding audit trails and insufficient funds notification. Providing a solid audit trail for remittances and deposits is easily managed through ACH processes. Each transaction is uniquely identifiable and search-able. This includes, origin, destination, dates, amount and other information which follow NACHA operating rules and Federal reserve guidelines.  ACH also allows for real time notice on insufficient funds regarding payments. With this the item can be directed to collections in a timely and efficient manner ensuring the best possible odds of collecting the balance due.

There are many more benefits to the ACH process including, better customer relations, improved cash flow on recurring or monthly payments, and making it easier for your customers to pay in a timely manner without reminders and follow ups. Visit Greenbill.com for more information on our ACH services for you and your customers.