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Did you know that there’s currently almost $6 trillion in circulation?
That’s a lot of potential for trading and transferring funds. As a business, it’s important to make sure that money goes where it needs to.
Are you wondering how you should do it? Keep reading to learn all about 4 reasons why businesses should use ACH transfers.
What Are ACH Transfers?
Have you ever asked yourself, “What are automated clearing house transfers?”
Put in the simplest terms, ACH transfers are like digital checks. They do away with the sluggishness of paper checks and money. Rather, they rely on a sophisticated financial network that allows you to transfer funds to multiple bank accounts with ease.
1. It’s Faster
The old saying “time is money” definitely applies to the world of business. The good news is that automated clearing house transfers can allow you to save a lot of time. Therefore, you’ll be saving a lot of money too.
The last thing you’d want is to lose out on a deal because the payment you tried to make was late. Whereas mailing a check or money order can take days or longer, assuming it doesn’t get lost in the mail, an ACH transfer can be completed in seconds.
2. It’s More Secure
Are you still asking yourself, “How do ACH transfers work?”
Since it’s all digital, you can expect it to have the kind of encryption only associated with high-security software. This is far safer than sending a check in the mail, for instance. Mail can be stolen and opened by just about anyone.
Your ACH payments, on the other hand, have around-the-clock security. This is not to say that it’s a full-proof vault, but it’s much safer than the old-fashioned methods.
3. It’s More Convenient
To even mail a check, you need to make sure you have some left in your checkbook. Then you have to take the time to fill it out. From there, you have to deal with envelopes, stamps, and then make sure you get the check to the post office before they close.
With an ACH transfer, all you need to do is determine the amount you want to send, who you want to send it to, then do it.
4. It’s More Accurate
From filling out the check correctly to hoping it doesn’t get lost in the mail, old-fashioned methods are not very accurate.
With an ach form, you don’t have to worry about any of those extra chores.
Are You Ready to Switch to ACH Transfers?
Now that you’ve learned all about the 4 reasons why businesses should use ACH transfers, you can make sure you make the switch and never look back. By making your business run more smoothly, you can spend time on the tasks that matter most.
There’s no getting around the fact that technology is changing all the time. The best way to keep track of everything that’s going on is by bookmarking our website and checking out the new articles and our informative back catalog.
