Thrifty Thinking: 4 Reasons to accept ACH payments at your company

Do you run a small business? If you don't currently accept ACH payments, it's something you should look into. ACH stands for Automated Clearing House and it's a way to process payments directly and electronically.

Why should you accept ACH payments, even if you're a very small business?

1) You don't have to worry about bad checks. Without electronic processing, if a check is bad or bounces, you have to go the extra step of reconnecting with the customer or securing another form of payment - or going without the payment entirely. With ACH, the money is there, and the customer has to deal with their bank and the overdraft fee.
2) Faster processing time. The electronic system makes payments essentially instant, with funds available more quickly than physically collecting checks and dropping them off at a bank.
3) Recurring payments. Using an ACH system, you can set up automatic payments for services and goods that are purchased on a recurring basis. This is particularly helpful for a service-based business that provides the same level of service monthly (such as tutoring or private lessons).
4) Flexibility. If you have ACH processing set up, you can accept a check by phone or fax in addition to in-person or in the mail.

MyPaymentSavvy aims to make processing these payments simple. Using their services you can convert the checks directly into electronic payments for quick processing so you can receive payment faster.