Let\u2019s say, hypothetically, that you run a landscaping service that charges its customers the same recurring amount each month. Your customer, Ms. Johnson, is a property manager who signs up for auto-pay. Ms. Johnson gives you the routing and account number to her checking account, and signs a recurring payment authorization. On a certain day of each month, your company\u2019s bank sends a request to Ms. Johnson\u2019s bank asking that they transfer the appropriate amount. Both banks exchange data, and\u2014if Ms. Johnson has sufficient funds in her account\u2014the transaction goes through. The payment arrives in your company\u2019s account automatically.<\/p>\n\n\n\n
Paper checks cannot be set up to recur automatically. They also require customers to spend administrative time dealing with invoices, writing checks, and mailing them out. ACH is convenient for recurring payments, but it can easily be used for one-time purchases, as well.<\/p>\n\n\n\n
Some benefits of ACH<\/h3>\n\n\n\nReduced Processing Time<\/strong><\/h5>\n\n\n\nOn the front end, the process of printing\/filling out a check, putting it in the mail, and waiting for it to arrive and process is significantly reduced. Whether your business is receiving a single payment or a recurring payment, the process of verifying \u201chow much is the amount in question,\u201d \u201cdoes the drawer have it in their account,\u201d and \u201cwhat account will it ultimately go to\u201d gets underway more quickly.<\/p>\n\n\n\n
Faster Deposits<\/strong><\/h5>\n\n\n\nACH is also faster on the back end. The two financial institutions involved in approving and settling your payment are dealing with each other directly, which removes a lot of variables like miscommunication.<\/p>\n\n\n\n
Increased Data Security<\/strong><\/h5>\n\n\n\nAlthough some individuals\u2019 initial response to providing routing information may be \u201cI\u2019m not comfortable giving that to a vendor,\u201d that objection is completely illogical given that all paper checks have the same information printed right in the corners.
Checks can be stolen, lost, or forged. Every check sitting in an unsecured mailbox is an opportunity for someone to commit theft and, consequently, acquire sensitive bank account information. Checks in envelopes might also be handled by multiple parties along the way while passing through building mail rooms or elsewhere. Additionally, inputting data from paper by hand makes it more susceptible to keystroke error. With ACH, a customer only needs to expose their payment information to their service provider one time, instead of transmitting it multiple times per year.<\/p>\n\n\n\n
Payment Convenience<\/strong><\/h5>\n\n\n\nACH payments are convenient for your business and<\/em> for the people you serve. Customers will appreciate that less effort is required on their end. And the folks who process your Accounts Receivable will enjoy no longer having to match up invoices with paper checks or make time-consuming trips to drop them off at the bank.<\/p>\n\n\n\nAre checks going the way of the dinosaur<\/strong>?<\/h5>\n\n\n\nAlthough the potential benefits of ACH transactions outweigh those of paper checks, some businesses are clinging to the habit. As of 2019, plenty of businesses were still using paper checks to pay some invoices . . . but only 51.3% said they were satisfied with them.[1]<\/a> Clearly, there is a better, more up-to-date method: ACH transactions are generally much faster, more secure, and more efficient. Offering your customers this or some other electronic payment option is likely to be beneficial to everyone involved.<\/p>\n\n\n\n<\/div>\n\n\n\n
\n\n\n\n[1] <\/a>https:\/\/www.pymnts.com\/study\/payables-friction-index-may-2019\/ <\/a><\/p>\n\n\n\n
\n\n\n\n<\/div>\n\n\n\n \n ![\"\"](\"https:\/\/www.evopayments.us\/staging\/wp-content\/uploads\/2019\/11\/cta_full-width_3.jpg\")
\n \n \n Connect with Us<\/h3>\n
With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n
On the front end, the process of printing\/filling out a check, putting it in the mail, and waiting for it to arrive and process is significantly reduced. Whether your business is receiving a single payment or a recurring payment, the process of verifying \u201chow much is the amount in question,\u201d \u201cdoes the drawer have it in their account,\u201d and \u201cwhat account will it ultimately go to\u201d gets underway more quickly.<\/p>\n\n\n\n
Faster Deposits<\/strong><\/h5>\n\n\n\nACH is also faster on the back end. The two financial institutions involved in approving and settling your payment are dealing with each other directly, which removes a lot of variables like miscommunication.<\/p>\n\n\n\n
Increased Data Security<\/strong><\/h5>\n\n\n\nAlthough some individuals\u2019 initial response to providing routing information may be \u201cI\u2019m not comfortable giving that to a vendor,\u201d that objection is completely illogical given that all paper checks have the same information printed right in the corners.
Checks can be stolen, lost, or forged. Every check sitting in an unsecured mailbox is an opportunity for someone to commit theft and, consequently, acquire sensitive bank account information. Checks in envelopes might also be handled by multiple parties along the way while passing through building mail rooms or elsewhere. Additionally, inputting data from paper by hand makes it more susceptible to keystroke error. With ACH, a customer only needs to expose their payment information to their service provider one time, instead of transmitting it multiple times per year.<\/p>\n\n\n\n
Payment Convenience<\/strong><\/h5>\n\n\n\nACH payments are convenient for your business and<\/em> for the people you serve. Customers will appreciate that less effort is required on their end. And the folks who process your Accounts Receivable will enjoy no longer having to match up invoices with paper checks or make time-consuming trips to drop them off at the bank.<\/p>\n\n\n\nAre checks going the way of the dinosaur<\/strong>?<\/h5>\n\n\n\nAlthough the potential benefits of ACH transactions outweigh those of paper checks, some businesses are clinging to the habit. As of 2019, plenty of businesses were still using paper checks to pay some invoices . . . but only 51.3% said they were satisfied with them.[1]<\/a> Clearly, there is a better, more up-to-date method: ACH transactions are generally much faster, more secure, and more efficient. Offering your customers this or some other electronic payment option is likely to be beneficial to everyone involved.<\/p>\n\n\n\n<\/div>\n\n\n\n
\n\n\n\n[1] <\/a>https:\/\/www.pymnts.com\/study\/payables-friction-index-may-2019\/ <\/a><\/p>\n\n\n\n
\n\n\n\n<\/div>\n\n\n\n \n \n \n \n Connect with Us<\/h3>\n
With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n
Although some individuals\u2019 initial response to providing routing information may be \u201cI\u2019m not comfortable giving that to a vendor,\u201d that objection is completely illogical given that all paper checks have the same information printed right in the corners.
Checks can be stolen, lost, or forged. Every check sitting in an unsecured mailbox is an opportunity for someone to commit theft and, consequently, acquire sensitive bank account information. Checks in envelopes might also be handled by multiple parties along the way while passing through building mail rooms or elsewhere. Additionally, inputting data from paper by hand makes it more susceptible to keystroke error. With ACH, a customer only needs to expose their payment information to their service provider one time, instead of transmitting it multiple times per year.<\/p>\n\n\n\n
Payment Convenience<\/strong><\/h5>\n\n\n\nACH payments are convenient for your business and<\/em> for the people you serve. Customers will appreciate that less effort is required on their end. And the folks who process your Accounts Receivable will enjoy no longer having to match up invoices with paper checks or make time-consuming trips to drop them off at the bank.<\/p>\n\n\n\nAre checks going the way of the dinosaur<\/strong>?<\/h5>\n\n\n\nAlthough the potential benefits of ACH transactions outweigh those of paper checks, some businesses are clinging to the habit. As of 2019, plenty of businesses were still using paper checks to pay some invoices . . . but only 51.3% said they were satisfied with them.[1]<\/a> Clearly, there is a better, more up-to-date method: ACH transactions are generally much faster, more secure, and more efficient. Offering your customers this or some other electronic payment option is likely to be beneficial to everyone involved.<\/p>\n\n\n\n<\/div>\n\n\n\n
\n\n\n\n[1] <\/a>https:\/\/www.pymnts.com\/study\/payables-friction-index-may-2019\/ <\/a><\/p>\n\n\n\n
\n\n\n\n<\/div>\n\n\n\n \n \n \n \n Connect with Us<\/h3>\n
With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n
Are checks going the way of the dinosaur<\/strong>?<\/h5>\n\n\n\nAlthough the potential benefits of ACH transactions outweigh those of paper checks, some businesses are clinging to the habit. As of 2019, plenty of businesses were still using paper checks to pay some invoices . . . but only 51.3% said they were satisfied with them.[1]<\/a> Clearly, there is a better, more up-to-date method: ACH transactions are generally much faster, more secure, and more efficient. Offering your customers this or some other electronic payment option is likely to be beneficial to everyone involved.<\/p>\n\n\n\n<\/div>\n\n\n\n
\n\n\n\n[1] <\/a>https:\/\/www.pymnts.com\/study\/payables-friction-index-may-2019\/ <\/a><\/p>\n\n\n\n
\n\n\n\n<\/div>\n\n\n\n \n \n \n \n Connect with Us<\/h3>\n
With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n
\n\n\n\n
[1] <\/a>https:\/\/www.pymnts.com\/study\/payables-friction-index-may-2019\/ <\/a><\/p>\n\n\n\n With business activities in 50 markets and 150+ currencies around the world, EVO is among the largest fully integrated merchant acquirers and payment processors in the world.<\/p>\n
\n\n\n\n\n Connect with Us<\/h3>\n