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ACH credit payments are best for sending one-time payments whereas ACH debit payments are more suited for making regular payments, such as for monthly utility bills. All ACH payments are secure and reliable, available 24 hours a day, 7 days a week, and 365 days a year. Learn More What are ACH Credit Payments?
ACH payments are a convenient way for business owners, individuals, and employers to use intuitive automated banking throughout their daily lives. Most small business owners and employers are turning to ACH payments instead paper check payments because of the ease and instant access the ACHnetwork provides.
ACH stands for Automated Clearing House, a network that handles electronic payments and transfers. So, what is an ACHdeposit? ACHdirectdeposits are common. Understanding the ACHdeposit meaning is important because it’s a fast, secure, and cost-effective way to transfer money.
Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACHnetwork. For most people, it has been a long time since they received a paper check that had to be deposited at the bank.
Before diving deeper into SEC codes, let’s take a minute to better understand ACH transactions – if you’ve already worked with ACH transactions and have an idea about what is involved in them, you can skip this section and go straight to SEC codes. There is a number of situations in which ACH payments are used.
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