Payments Hub

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.

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.

A bank remittance refers to funds that are sent or transferred to another entity as payment for services or a product. The word is derived from the term “remit” which means “to send back.” Remittances are sent via an electronic payment system, wire transfer, mail, draft, or check.

ePayables is an electronic payment solution that replaces your check payments with a virtual card assigned to each vendor. When an invoice is received and approved, the AP department sends an EFT (electronic file transfer) to the bank indicating the disbursement amount for each card.