ACH Processing

ACH: Marinas

Marinas have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for marinas. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits:

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for marinas met Life customer retention improved  50% or more.

How it works:

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing:

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH: Child Care Facilities

Child care facilities have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for child care facilities. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for child care facilities met Life customer retention improved  50% or more.

How it works

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH Rule Change-Recurring TEL

Beginning on Sept. 16, 2011, an originator may obtain a consumer’s oral authorization for recurring TEL transactions.

NACHA (the National Automated Clearing House Association) recently amended its Operating Rules to expand the scope of the Telephone-Initiated Entry (TEL) application to permit its use for recurring consumer transactions. A TEL entry allows merchants or creditors (Originators) to debit a consumer’s bank account in response to a consumer’s oral authorization via telephone.

The amendment to the Operating Rules becomes effective on Sept. 16, 2011. Under the existing Operating Rules, the TEL application can only be used to authorize a single entry or one-time debit. This restriction was in keeping with the Federal Reserve Board’s Commentary on Regulation E, which up until 2006, stated an audio recording of a consumer’s oral authorization taken over the telephone did not constitute authorization for recurring ACH transactions. This restriction was removed from the FRB’s commentary in 2006, prompting NACHA to amend its Operating Rules.

Once the new Operating Rules become effective, an Originator may obtain a consumer’s oral authorization for recurring TEL transactions. The following information must be included as part of the authorization for a recurring TEL entry:

• The amount of the recurring transactions, or a reference to the method of determining the amount of recurring transactions;
• The timing (including the start date), number, and/or frequency of the electronic fund transfers, or other similar reference, to the consumer’s account;
• The consumer’s name or identity;
• The account to be debited;
• A telephone number for consumer inquiries that is answered during normal business hours; and
• The date of the consumer’s oral authorization.

Originators obtaining an oral authorization for recurring TEL transactions will still have to ensure the oral authorization complies with Regulation E’s writing and signature requirements for preauthorized transfers. The FRB’s commentary on Regulation E indicates this writing requirement can be met by compliance with the Electronic Signatures in Global and National Commerce (E-SIGN) Act, which provides for legal equivalence of electronic records and signatures with their physical counterparts. Thus, an Originator using recurring TEL will need to ensure that its authorizations, including the use of recorded conversations, are in compliance with the E-SIGN Act. Unfortunately, neither Regulation E nor its accompanying Commentary elaborates on how compliance with the E-SIGN Act can be achieved via a recorded authorization.

Until the FRB provides further guidance on this issue, merchants and creditors using recurring TEL may want to consult with an attorney to determine a method for simultaneous compliance with NACHA Operating Rules, Regulation E and the E-SIGN Act.

Visit www.ACH-Payments.com for 

 

ACH Rule Change for Recurring Debits?

NACHA Looking at ACH Changes: Recurring TEL Debits

Big news for billers that deal with clients by phone:

NACHA-the governing body of the automated clearing house, is considering rules changes that will impact recurring ACH Payments. The proposal is to allow recurring payments under the TEL code for telephone initiated payments.

Currently, even if a consumer has allowed it before, all e-check conversions arising from permission obtained over the phone from the consumer for an ACH debit must be separately authorized. 

Companies that generate regular recurring payments currently must obtain written or similarly authenticated agreements to bill via ACH on a recurring basis.

A merchant could establish a billing relationship faster if a new customer is on the phone instead of directing the customer to the company Web site, sending enrollment forms through the mail, or forcing the customer to use a non-ACH electronic alternative such as a remotely created check (RCC).

NACHA has been studying the issue and has concluded that billers and financial institutions have the technology and capability to control any associated risk.  

If approved by NACHA’s membership, the revised rules would take effect March 18, 2011.  

ACH Payment Processing: $25k Developer Contest

ACH Processing News

If you are an ASP/software developer and your application has or could benefit from an ACH Payment or credit card payment processing plug-in we want to hear from.

www.OpenPayments.com is the site of our $25,000 prize contest. In addition to the prize money there is the potential for recurring income based on application usage.  In addition to developers, ISO's and merchants that might have a great idea for a payment processing app should also register.

To participate register at www.OpenPayments.com. You will be provided information, documentation and forum access.  Participants will submit their ideas and from this invitations for applications to be developed will be sent. Those submitting ideas only will be informed that their idea will be developed in-house by ACH-Payments.com.

All are welcome-for White Papers on integration of ACH Processing (and credit card) visit:

www.ACH-Payments.com/whitepapers

ACH: Paging Companies

Paging companies have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for paging companies. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for paging companies met Life customer retention improved  50% or more.

How it works

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH: Cable TV Companies

Cable TV companies have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for cable TV companies. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for cable TV companies met Life customer retention improved  50% or more.

How it works

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH: Alarm Companies

Alarm companies have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for alarm companies. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for alarm companies met Life customer retention improved  50% or more.

How it works

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH: Mail Order Companies

Mail order companies have collected payments automatically  and electronically for years. Your business can now join them in this safe and time tested method to collect your receivables through ACH for mail order companies. Our  software platform allows you to set your  customers up for recurring checking account debits.  You can be confident your payments will be made to you on time.

Benefits

    * Reduce Invoicing Costs.
    * No opening payments.
    * No bank trips.
    * Increase customer retention.

       -  ACH for mail order companies met Life customer retention improved  50% or more.

How it works

You enter customer data into our software (or use an optional check reader), upload the data to our processing centers and the ACH drafts take place. Your money is electronically deposited into the account you specify.  NSF check recovery is built in. Your company can even make money when a customer "bounces" their draft.

Pricing

Per draft charges start at .32 (32 cents).  Depending upon volume price can drop considerably. We will match or beat a quote upon examination of legitimate proposal.

ACH: Home Security Companies

Businesses like home security companies spend lots of time keeping track of just about everything. If you totaled the hours spent collecting payments, sending invoices, making collection calls, posting payments, bank trips etc that number would be depressingly high.

Let's say you spend 10 man hours a month. 10 hours at $30/hour is $300 just in time. What would happen if you implemented an automated payment processing system allowing for both ACH and credit card processing? Let's also throw in an easy to use website payment solution and lockbox (mailed payments) processing.

All recurring payments now automated, use ACH check by phone for collection calls, encourage payments to be made online and convert all mailed payments into ACH electronic checks so you don't have to go to the bank. Your 10 hours is down to one  when you use ACH, a big help ACH for home security companies. 90% time savings while at the same time creating predictable, reliable cash flow.

Using the process of ACH for home security companies saves time and time = money. Visit www.ACH-Payments.com for info on how to get started. Mention you got to us from this blog post and we will waive all set up fees and refund first month's processing fees.