If You’re Part of SEPA, You Can Use ACH
Global ACH has many benefits, including expanding your business into a global marketplace and handling transactions between countries. Understanding which companies are eligible for this payment method can seem confusing without some initial research. Did you know that you can use ACH if you or the payee you work with is part of the Single Euro Payments Area, or SEPA?
What Does SEPA Mean?
A SEPA electronic bank transfer is the EU’s equivalent of a US ACH (Automated Clearing House) transfer under Nacha rules. SEPA rules make sending and receiving euro cross-border bank transfer payments as easy as domestic transfers in EU zone + European countries, using a direct debit payment and credit transfer. SEPA is single euro payments area.
Who Is Part of SEPA?
SEPA’s membership includes 17 Eurozone countries, as well as 15 countries outside of this area. With 32 countries on board, this membership allows businesses to interact with one another easily using electronic ACH mass payments. If you operate a business that makes or accepts payments internationally, check if the countries you do business with are included in SEPA. If they are, you could change the way you pay your affiliates, to save time and money.
Why Use ACH?
The benefits of ACH include everything from saving money on paper checks, to being able to make payments quickly and easily, as well as tracking these payments online. Without a global ACH payment method, making payments to people in other countries is difficult and time-consuming. With this payment method, you can make affiliate payments, directly online, and track your payment’s progress to ensure it goes through. For these reasons, ACH is the best way to make payments internationally for any business.
You can make global ACH payments by investing in a platform that supports this method and which can help you keep track of multiple payments at once. With an expanding global marketplace, the need for quick and efficient ways to get money to the people who help market your company is essential.