Question by Genevie: What is the difference between an automatic draft (for online bill payments) and ACH payments?
I have recently set up a very basic savings account at my mothers credit union and yesterday when I called the credit union to ask if I could set up online payments to come out of this account, the teller told me that this account only accepts ACH payments. What does that mean?
Best answer:
Answer by Go with the flow
She might have meant ACH deposits only.
Like direct deposit from your employer.
All savings accounts I know do not allow debits to pay your bills.
For this, you would need a checking account.
*That’s the difference between a savings account and a checking.
If you could pay bills with a savings account, then there would be no difference between the two accounts.
They would both be called checking accounts.
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Question by Beautiful Girl: How long does ACH payments take?
My boss said he sent the check out thursday but i thought i would see it in my bank account today , but its not there
Best answer:
Answer by Kevin Campana
– Standard funding time is 4 days. ACH Processing is very different from credit cards in this respect. The ACH transaction proceeds as if the customer has the funds in their bank account but the customer bank has to “report” to us the money was actually in the account and that is has officially been transferred. This can take 3 days.
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Question by shawnda: Do offshore merchant accounts accept ACH payments?
or do they only accept credit card?what other modes of payments do they process?
Best answer:
Answer by jocular2005
Call this number on the web site I will list below for you. They can answer all those questions. I know the have a free terminal program so you get them for free. They also give you free software for your web site to accept credit cards, & checks ect.
So if you don’t get set up with them at least maybe they can help you with your other questions.
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AP financial audit, utility credit top meeting
The ACH system automates the billing and payment collection process. “As we continue to grow, we look forward to implementing some of the long-established technologies for billing,” he said. “This improves our efficiency to process payments and …
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Finance Director
Submit and maintain automatic ACH payments from members. • Maintain Petty Cash and reconcile. • Track revenue and expenses for all major events and work with event lead to ensure accurate reporting; balance smaller events with Membee reports …
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Ann Davidson Joins Allied Solutions as VP of Risk Consulting
Davidson is an authority on payment fraud, including cards, wires and Automated Clearing House (ACH). She is affiliated with various financial crime associations, as well as card and ACH associations that monitor fraud risk for financial institutions …
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Research and Markets: Order-to-Pay Solutions: Industry Partnerships Likely to …
Companies have worked to transform their paper checks to commercial card and ACH payments, but electronic invoicing has lagged behind. This, however, has not deterred solution providers from pairing electronic invoice and payment products so they can …
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Big Payment Data: Leveraging Transactional Data to Ensure an Enterprise …
Employing a Big Payment Data strategy to facilitate payments risk management not only requires access to specific data elements but also an understanding of what unusual activity may look like – ideally before a transaction is completed. While ACH …
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Question by Adam: ACH Payments?
Hello,
I am building a website that allows tenants to pay rent online to landlords. I am operating as a portal I do not want to hold on to any money but want to apply a small fixed fee to each transaction. I am trying to build it right inside of the site. If anyone could point me in the right direction. I found Dwolla but they want each person to leave the website. I am not interested in these pre existing rent sites that charge a high rate.
Thank you
Adam
Best answer:
Answer by falsi fiable
A very bad idea! You should find a merchant processing portal that passes back payment confirmation to your website. Charging tenants a fee is most likely illegal. Why would anyone use your portal?
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Question by d man: What is an ACH payment?
I am wanting to set up a high and free checking account and one of the monthly requirements is to have at least one direct deposit or ACH payment. What is an example of an ACH payment. Would a payment like netflix be considered an ACH payment.
Best answer:
Answer by doreen k
If you arrange for your Netflix monthly subscription fee to be automatically debited from your checking account, then that would be an ACH (Automated Clearing House) payment if you set it up that way. If you instead provided your debit card number, then that would NOT be an ACH payment.
ACH payments can be used for things like automatic payments to insurance companies, utility companies, etc. When you make these arrangements, just be sure to request an ACH or automatic checking account payment, using your routing and transit number and full account number (as it might appear on the bottom of your checks, assuming you have paper checks printed for your checking account). Again, do NOT provide your debit card number, as that would not be an ACH payment.
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MONEY & THE LAW: Master the ins and outs of mobile banking
By way of example on the money-out-of-your-account side, the ACH system handles purchases made with a debit card, withdrawals from an automated teller machine, and preauthorized payments, such as your Netflix bill. To complicate things a bit, the payee …
Read more on Colorado Springs Gazette
From Cost to Profit Center: Payments Technology and Your Back Office
We also designed a comprehensive disbursement solution to allow for multiple types of payments to be processed, from electronic payments using virtual credit cards to Automated Clearing House (ACH), wires and good, old-fashioned printed checks.
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Overnight Business Payements By Email And Zipmark's Website
The money moves overnight using Check 21 and nonreversible ACH credits. Zipmark is a web platform whose services are available via API and its website. Email is used to notify payers and recipients and every user gets a real-time receipt for …
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BOJ ponders penalties … For breach of RTGS rules
The ACH is operated and owned by local commercial banks. The threshold for large payments was lowered from J$ 3 million to J$ 2 million in 2013. Transactions valued above the limit are mandated by the BOJ to be settled in its Real Time Gross Settlement …
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Mayfield Heights couple receives nasty phone calls demanding early credit card …
Per the Credit Card Accountability, Responsibility and Disclosure Act of 2009, companies must give you the same due date every month and, in addition, must send statements 21 days before a payment is due. Credit One or any creditor would be absolutely …
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Alternative Payment Providers are the Best Bet for e-Gaming
Gaming operators should adopt several forms of payments. There are four primary forms of payments in the U.S.—cash, credit card, ACH and stored value prepaid cards. Online gaming site operators should adopt as many alternative payment methods as …
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Sweetwater Cable TV Chooses GLDS' Billing and Provisioning in Multi-Year …
Sweetwater Cable TV will use GLDS' WinCable for enterprise billing and subscriber management, Super Controller for provisioning of triple-play services, Service Provisioning Gateway (SPG) for automated voice and data provisioning, WinCAP TVE …
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JetPay Payroll Services Introduces WorkForce Today: A Comprehensive Human …
JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs of businesses throughout the United States. The Company also offers low-cost payment choices for the …
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