Ach is a USA network to credit and debit your account and the account of yours customer, partner...
With the application "Ach Transfer Tool" you will be able to:
-Add your business bank account
-Add your customers, partners
-Create yours transactions batchs and add entries
-Finally you can generate an Ach compliant file that you can send to your financial institution.
# Important :
1)This app will NOT EXECUTE your transfer, you have to SEND THE GENERATED FILE TO YOUR BANK.
2)All financial data are stored on your devise and not shared or transferred on the internet.
ACH stands for Automated Clearing House, which is a network used for electronic financial transactions in the United States. It is a system that facilitates the transfer of funds between banks and other financial institutions. ACH transactions are typically used for various types of electronic payments, including:
Direct Deposits: Employers use ACH to deposit salaries and wages directly into their employees' bank accounts.
Bill Payments: Consumers use ACH to pay bills, such as utility bills, mortgage payments, and credit card bills, online or through their banks.
Electronic Funds Transfers: ACH is used for transferring money between different bank accounts, whether for personal or business purposes.
Online Purchases: ACH can be used for making online purchases, although it's less common than credit card payments or digital wallets.
Government Payments: Federal and state government agencies use ACH for distributing benefits, such as Social Security payments and tax refunds.
ACH transactions are typically processed in batches, and they are known for being a cost-effective and efficient way to transfer money electronically. They are subject to specific rules and regulations set by the National Automated Clearing House Association (NACHA) to ensure the security and reliability of electronic payments. These rules govern things like transaction limits, processing times, and error resolution procedures.
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