“The Federal Reserve last month released a consultation paper calling for a more efficient payment system,” the article goes on to note — something we reported on here. And that paper from the Fed “recommended that banks work together to develop a real-time payment system… Possible improvements included creating a new system for real-time wire transfers, enhancing debit card networks, speeding up the ACH system or creating an entirely new payment system.”
And while these changes continue to be contemplated, slowly rolled out, etc., we at AVPS are happy to report that we can make ACH work for you. As noted on our own website, “AVPS submits the transaction information to the Federal Reserve Bank which allows for the fastest processing available. All transactions are stored in a database, and will be included on your monthly statement.”
And no, we can’t make the entire banking system move instantly on your behalf, but we can turn around ACH payments usually in 2-5 business days. Your customers can give you checks, even online, and we can get you paid.
And of course, we’ll do our part to keep bringing all your payment options — the the system behind it — straight into this 21st century of ours.
For more on ACH, contact your AVPS rep today.