Automated Clearing House (ACH) payments are electronic payments made through the ACH network, an electronic network that handles a variety of transactions occurring in the United States, with some of most common being: payroll deposits, mortgage bills, utility bills, insurance bills, B2B (business to business) payments, and ecommerce payments. For businesses, an ACH online payment has several advantages over imbursement by check, money order, or telephone, particularly:
1. Timely payments
If left to mail or phone in payments, many customers procrastinate, which translates into your business missing out on money that could be in its accounts, which could translate into lower investment ratings. While late payment may not put your company out of business, they do make its present finances more complicated.