Posted On: June 20, 2022 by Farmers Trust & Savings Bank in: Business Banking
Author: Suzi Harper, Personal Banker and Commercial Services Manager
When it comes to payments, businesses often have more options than they may even realize.
ACH Origination can be one of those options that provide a wealth of benefits to a business including helping save money and improving efficiencies.
What is ACH? ACH (Automated Clearing House) is a network for electronically moving money between bank accounts in the US. It’s the evolution of the 1970’s paper check to a modernized payment. By transforming the paper check into a digital process, it could improve efficiencies for businesses nationwide.
Common uses of ACH payments are:
- Direct Deposit of Payroll
- Paying Taxes
- Paying Suppliers
- Funds Transfers
- Payments from Customers
While ACH transactions aren’t the only way to move money, their advantages are powerful for your business including:
- Improved Cash Flow Control
- Increased Financial Forecasting
- Reduction in Administrative & Operating Costs
- Enhanced Fraud Control Measures
- Tighter Security
In 2020, over 62 trillion changed hands via ACH!
Why should your business consider ACH? Really, why wouldn’t you? If having the chance for your business to obtain a means that could help manage your cash flow, it might be worth exploring.
The goal of any successful business involves growth that may mean increasing staff, your customer base, or additional vendors to manage. Along with this success comes the need for greater efficiencies in handling company finances. ACH Origination with Farmers Bank can help your business Level Up!
Contact Suzi to learn more, 712-262-3340 or 800-249-3340. We are your business partner; your successes are our successes.
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