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FirsTech - Money Moves

This presentation has explained Money Moves and how ACH transfers are electronic, bank-to-bank money transfers processed through the Automated Clearing House Network.

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FirsTech - Money Moves

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  1. FirsTech Money Moves The Benefits of Same Day ACH 800.800.1598 information@firstechinc.com

  2. ACH Transfers ACH stands for Automatic Clearing House that governs ACH transactions. ACH transfers are nothing new they’ve survived for over 40 years. People use them for a type of financial transaction. Banks processed nearly $62 trillion in ACH payments in 2020 only, an improvement of over 8% from 2019. 800.800.1598 information@firstechinc.com

  3. Consumer Costs The cost of sending an ACH transfer varies, but it usually is far less expensive than sending a wire transfer, and it is also generally safer. Most banks do not charge consumers a fee for ACH transfers, and an individual or bank can protest or reverse an ACH if there is a issue with the payment. 800.800.1598 information@firstechinc.com

  4. Less Money In Limbo Except for payments above $100,000, Nacha now processes the great majority of all US-based card and debit payments the same day if handled through ACH. These higher payments account for fewer than 1% of all ACH transactions. 800.800.1598 information@firstechinc.com

  5. Speed Limits The Automated Clearing House (ACH) is a banking service in the United States. At present moment, neither consumers nor banks are able to make same-day ACH payments outside of the United States. Because it is simple and affordable to transmit money, most Americans use ACH for “in-house” fees and deposits. Only a few banks are permitted to make international ACH transfers under current restrictions. 800.800.1598 information@firstechinc.com

  6. Payroll Precision Anytime a business streamlines a regularly occurring process, Payroll Precision represents a potential cost saving for companies. Especially for small businesses and startups, any superfluous cost cutting is good for both the business and its employees. 800.800.1598 information@firstechinc.com

  7. Modern Problems, Modern Solutions Although the Covid-19 outbreak turned millions of Americans' lives upside down, the ACH Network keeps money moving safely and effectively. People have turned to digital and online banking and ACH transfers to make payments due to social alienation and stay-at-home directives, which means fewer in-person excursions to banks and other financial institutions. 800.800.1598 information@firstechinc.com

  8. Services FirsTech Also Provide Mobile Solutions Telephone Payments Electronic Payments In-Person Payments Merchant Services 800.800.1598 information@firstechinc.com

  9. If you have any Query Follow Us on information@firstechinc.com 800.800.1598 www.firstechpayments.com 1 N. Brentwood Blvd, Suite 910 St. Louis, MO 63105 800.800.1598 information@firstechinc.com 9

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