How ACH Payments Create An Effective Banking Channel

Consumers give businesses their account information so that businesses can debit their accounts. This is the way since the 1970s that the Automated Clearing House (ACH) payments have provided the means of electronically moving money between banks for private and commercial use. This then creates an effective banking channel.

ACH payments are typically split between two primary categories: direct deposits and direct payments.

Both are of equal importance when it comes to understanding ACH payments; however, there are other notable means of transferring money via ACH.

Companies such as Synapse offer white labeled products such as ACH that have the capability to transform the financial services that your business offers its customers by connecting to existing ACH accounts.

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