Payment processing fees differ for ACH and other payment methods. This guide covers automated clearing house fees and compares them to costs of other types of payment transactions. Alternatives to ACH payments include wire transfers, paper checks, credit cards, debit cards, PayPal, and Apple Pay.
SWIFT payments are transactions made through an intermediary bank that allows you to send/receive electronic payments internationally. The SWIFT network doesn’t actually transfer funds but instead, sends payment orders between banks using SWIFT codes. It’s a means to transfer money overseas quickly, accurately, and securely.
ACH software allows a business to easily create and transmit ACH files. Also called “treasury software,” an ACH payment solution provides a secure, reliable, and timely means of processing credit and debit transactions. The platform functionality helps to maximize your bank’s profitability and elevate the customer experience.
An EDI 820 is an electronic exchange of payment and remittance advice between trading partners. It enables companies to streamline the supply chain process and eliminates the need to send paper documents. As part of invoice workflow management, EDI 820 automation submits data directly into the receivable system and keeps the cost of business down.