(Part 1 of 4)
Are you using an Automated Clearing House (ACH) to make and receive payments? ACH is an electronic application that allows the direct transfer of funds between two bank accounts with several benefits to all parties.
Fraud mitigation: You may be aware that checks can get lost in the mail by the post office or merchant’s office, but did you know that paper checks are the most subjected to fraud? Another reason checks are the most subjected to fraud is that they contain whole bank account numbers, routing numbers, business names, addresses, and phone numbers. Because of this, ACH payments are more secure since they do not get lost in the mail, and fewer people handle the ACH information.