ACH transactions are not as complicated as they sound. It’s just an easier and safer way to move funds. If you’ve ever signed up for direct deposit or paid a bill online, then chances are you’ve dealt with ACH transactions. When running a business, it’s important to understand the mechanics of ACH, including how it works, what could go wrong, and tips to streamline the entire process.
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.