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"...My bank said it would take two weeks, I could'nt beleive BCU had my account up in one day. My rates and fees were much less then expected for such a great service
Club Suede
(Park City, UT)
Products
Electronic Checks
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Other Products & Services Beyond Payment Processing
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The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by NACHA (National Automated Clearing House Association) operating rules. The ACH system provides for the interbank clearing of electronic payments for participating depository financial institutions.
ACH Payments Include:
Direct Deposit of payroll, Social Security and other benefit checks
Direct Payment of consumer bills such as mortgages, loans, utility bills and insurance premiums.
Business-to-Business Payments
E-Checks by online payments, phone or fax
The ACH Network is currently utilized by over 115 million consumers, 4 million businesses and is accepted by over 12,000 financial institutions.
The number of e-check payments exceeded 208 million in 2nd quarter 2004, a 791 percent increase over the previous year. This was the first quarter that e-check payments exceeded the number of paper check payments.
