Category Archives:ACH Payment
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Digital Commerce & Payments Update

Digital Commerce & Payments Update
The order similarly restricts the bank's activities related to credit card merchant acquiring and ACH merchant payment processing. The order does not prohibit the bank from issuing prepaid cards through existing distribution channels under existing …
Read more on JD Supra (press release)

MyECheck Announces New Agreement to Expand Business with Simplifile
MyECheck's fully electronic check service allows Simplifile to collect payments from customer accounts that cannot be debited by ACH, such as certain escrow accounts and government account. As a result of using MyECheck's technology side by side with …
Read more on Baystreet.ca

Photo gallery: Entertainment July 29
Be sure to include your name, daytime phone number, address, name and phone number of legal next-of-kin, method of payment, and the name of the funeral home/crematory to contact for verification of death. For more information about placing obituaries, …
Read more on Kansas City Star

BOJ ponders penalties … For breach of RTGS rules

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 …
Read more on Jamaica Gleaner

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 …
Read more on The Plain Dealer

Lastest ACH Payment News

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 …
Read more on PaymentsSource

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 …
Read more on EIN News (press release)

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 …
Read more on MarketWatch

Lastest ACH Payment News

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 …
Read more on Bobsguide (press release)

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 …
Read more on The Herald | HeraldOnline.com (press release)

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 …
Read more on BankInfoSecurity.com

What is the difference between an automatic draft (for online bill payments) and ACH payments?

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.

Give your answer to this question below!

AP financial audit, utility credit top meeting

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 …
Read more on Highlands Today

 

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 …
Read more on Binghamton Homepage

 

‘Real Time’ Settlement Aside, NACHA Sees Solution Ubiquity As The True Game

‘Real Time’ Settlement Aside, NACHA Sees Solution Ubiquity As The True Game
They simply aren’t needed as much as they were a decade ago because consumers have more electronic options available to them to pay billers and merchants. It is perhaps because of this, or perhaps just partly so, that NACHA, which oversees the ACH …
Read more on PYMNTS.com

Katy sisters arrested in scheme to defraud retailer
The majority of the settlement payments were made via automated clearing house (ACH) deposits, an electronic payment method which generally involves the use of interstate wire communication facilities, according to the complaints. Drummer and Hall, in …
Read more on Your Houston News

Modest Growth Trend Continues In Small Business Economy
Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. Managed Technology …
Read more on DigitalJournal.com

PacNet Services to Attend Internet World 2014

PacNet Services to Attend Internet World 2014
Some of the payment facilities offered by PacNet include cheque processing, credit card processing in 130 currencies, direct debit, EFT, ACH and bank transfer collection from the UK and around the world. PacNet also initiates outgoing payments by …
Read more on IT Business Net

Payment Savvy is Now Offering Complimentary Payment Processing
From business owners who are looking for the best solution to accept credit cards to managers who wish to use the company’s state-of-the-art ACH payment processing software, thousands of clients use Payment Savvy’s outstanding products and services.
Read more on InsideARM

How long does an ach payment take to clear your bank account?

Question by gdavison: How long does an ach payment take to clear your bank account?
I payed HSBC and their records showed $ 34.00 was taken out on 08/19/08 but my own bank has not shown the deduction yet. I am pretty sure HSBC got paid because their records show standard payment. I am thinking that my bank took $ 34.00 out of someone else account or they goofed and lost it. Local branch customer service said wait tell Monday.
Update. My bank told me to wait a couple of more days. I am tired of waiting. I did call HSBC, they actually have the money. So, I am wandering if the Federal Reserve lost it or my bank lost it.

Best answer:

Answer by AIDAN’S MOM
HSBC has processed the ACH on there end, you should see it come our of your account in a couple of days. I wouldn’t worry just yet, if it is not out by Monday I would call them and double check what account number they w/d the funds from.. just to verify.

Add your own answer in the comments!

How long does ACH payments take?

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.

Know better? Leave your own answer in the comments!