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Automated Clearing House (ACH) payments are a type of electronic bank-to-bank payment system in the US. Unlike payments facilitated by card networks like Visa or Mastercard, ACH payments are managed by a body called the National Automated Clearing House Association (NACHA). Let’s get started.
The other strategy is to migrate to another payment rail, likely Automated Clearing House (ACH), which is quickly climbing the B2B payment ranks. Yet both of these strategies require a third-party service provider to facilitate payment processing, whether funds are coming in via check or ACH. The Check-To-ACH Migration.
The good news is that Same Day ACH is on the way, but experts continue to discuss how the initiative will impact corporate payments, if at all. At the center of many of these discussions is the issue of ACHunderwriting, which sees FIs establish how long it takes for funds to actually settle into an account.
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