ACH Payments
Automated Clearing House (ACH) payments are electronic money transfers processed through the ACH Network, a U.S.-based network for facilitating financial transactions between bank accounts.
Frequently Asked Questions
There are two main types. ACH credits are payments pushed to an account, such as when an employer pays a worker using direct deposit. ACH debits are payments pulled from an account, such as during automatic bill pay.
They typically take 1 to 3 business days to process, depending on when the payment is initiated. However, Same Day ACH is a premium option that allows funds to be transferred within the same day.
Yes, the ACH Network enables secure ACH transfers using methods such as encryption, authentication and authorization. One area where ACH payments may be vulnerable is Business Email Compromise (BEC), a type of cybercrime that uses tactics such as social engineering to obtain sensitive payment information. However, providing employee training and using a secure payout solution can help prevent this and other types of fraud.
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