Reap the benefits of ACH processing and recurring billing 

by amy perry Saturday, February 12, 2011
Businesses of all shapes and sizes have an interest in future expansion. While some businesses immediately jump on the fast track, other businesses take a more gradual route in their development. With either type of growth in mind, there are some basic rules to that engagement. The quality of your goods or services and your customer service should be world class. One facet of service that helps both business and customer is payment options. ACH processing is a payment method that is safe on both ends of the transaction. Depending on the products you offer, recurring billing can be a beneficial option on both ends as well.

ACH processing is a very simple transaction. While data shows that only a small percentage of small US businesses use this process, the number is currently on the rise. Governed by the National Automated Clearing House Association and operated by the Federal Reserve and Electronic Payments Network, ACH or Automated Clearing House is a process through which batches of checks are processed electronically and the payment is deposited into your account. Say you receive one or two payment checks from your customers on a daily basis. It’s a real pain if you have to visit your bank every day to make deposits. With ACH processing, you can process the checks in batches and deposit the entire amount in your account. ACH processing ensures that the checks are cleared within 24 hours and you get the payments almost instantly.

As a business you can attract a number of customers by offering a payment plan. But would you like your customer to send you an installment check every month? Or would you like to visit the customer once a month to collect the check? Neither of those options seems overly appealing when you can set up an efficient system like recurring billing. To save time and money for both you and your customer, your bank will take instruction on automatically collecting the monthly installment. The customer authorizes their bank to release the payment when it is presented and when the last installment is cleared the automatic recurring billing will stop on its own.

Banks today have set out on a mission to make life easier for their customers and it is businesses like you that benefit. There are so many benefits of processes like ACH processing and recurring billing that you must take advantage of them. Ask your bank about these services as many currently offer them and many more are slated to start soon.

Get money flowing into your business through quick payments and enhanced customer satisfaction. Both ACH processing and recurring billing will create happy, returning customers. And as a business you surely know the importance of the returning customer when you are looking at expansion.

Resource Box:
If you are a fast expanding business then you can benefit your business using ACH processing and your customer using recurring billing.
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General | Categories: financial
0    submitted by amy perry
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