Why should I start using Electronic Funds Transfers now?

Electronic funds transfers (EFT) will save you and your customers time and money. There is no better reason to use EFT transactions immediately. And consumers are becoming more comfortable with electronic payments every day.

You will be amazed at how easy it is to manage an electronic funds transfer program with our software. You collect payment information from your customers in any number of ways—by web, over the phone, in person, or store it for pre-authorized transactions. You transmit payment files to us daily through any of several simple processes. You confirm your files for the day by a fax transmission. Within a couple of days, the cash is in your account. We will show you all the details in a demonstration. But remember, it’s easy!

All you need is a personal computer and internet access.

How long does it take to get started?

The approval process takes 3-5 business days, and then you can start immediately.

Are ACH transactions safe?

Yes. Our software uses state of the art encryption technology. An average paper check passes through between ten and twelve pairs of hands, while an electronic payment is rarely viewed by a person. Your customers should feel safe with ACH processing. For more information see Security.

What are the costs?

Costs will depend on volume. Call us to discuss specifics. ACH transactions are less costly than credit card transactions and will increase your bottom line by reducing administrative costs.

You can still benefit from ACH processing by converting paper checks to electronic checks. You will save time and effort. Or you can begin accepting "paperless" checks at the point of purchase and save your customers the hassle of writing checks. You will also receive significant benefits from an improved electronic check recovery process.

U.S. consumers are becoming more accustomed to the conveniences of electronic payments every day. As proof of this, the volume of ACH transactions has grown by 15% or more for more than five years, and is projected to grow strongly throughout 2010. In 2001 more than 8 billion transactions were processed through the ACH network.

Is the ACH transmission process regulated by the government?

In 1978 Congress enacted the Electronic Funds Transfer Act (EFTA). The Federal Reserve Board of Governors then passed Regulation E to implement the EFTA. Financial institutions must comply with Regulation E.

Also Article 4A of the Uniform Commercial Code was developed to establish a comprehensive body of law for certain electronic payments. Article 4A covers certain ACH transactions not covered by Regulation E. Typically the transactions covered by Article 4A are business-to-business transactions.