As a small business owner, it can be overwhelming to understand all of the things that you need to know about financial transactions. It is important to have a merchant account and a company who can make sure that you are receiving the electronic payments when your customers make a purchase. But, how do you know which company you should trust with this sensitive information?
ACH, or “Automated Clearing House,” has been in the financial news of late, particularly in a couple of MarketWatch articles about ongoing changes to the system of payments, particularly in this era of instantaneous digits.
When you are starting your business there are a myriad of things to think about. One of the most important issues is how you will generate enough revenue to make a profit and for the first few years, even survive. Assuming you have a solid marketing plan in place to bring buyers to your online store or store front premises, how do you get the customer to purchase your products or services once they are there?
What is ACH? ACH payments are electronic check payments that many businesses can use to expand their customer base. The Automated Clearing House, which is what ACH stands for, works similarly to a wire transfer but without actually being a wired payment. If you are looking for a secure way to process check payments from your customers, ACH is the way to go. These payments are resolved in just a couple of business days, which means that you will get your money faster than you might with traditional check payments. There are many benefits for business who accept ACH payments.
Are you looking to start an Internet business or to take your business into the virtual world, only to find that a poor or nonexistent credit rating is holding you back? While most banks have very strict laws and regulations regarding to whom and how they can distribute funding, they are not your only option. A high risk merchant account can give you many options that you might not have even known were available to you, including the ability to access a merchant cash advance that will let you borrow against future credit card payments and repay the loan automatically and affordably as purchases are made.