ACH
ACH, eChecks and EFT
ACH, eChecks and EFT are often used interchangeably, but there are some subtle differences. eChecks and ACH are types of EFT (Electronic Funds Transfer). However, ACH and eChecks operate over different systems and have different methods of dispute resolution and chargeback policies. ACH and eChecks operate similarly:
- A customer authorizes a certain amount of money to be withdrawn from their account.
- The money is transferred electronically from the customer’s financial institution to the merchant’s financial institution.
- The money is then deposited into the merchant’s bank account.
Next Stage Payments offers all kinds of EFT payment processing for your business, including eChecks and ACH. Many customers prefer these payment options, deeming them more reliable and secure than credit or debit cards. Offering multiple convenient payment options for your customers makes it easer for them to pay and more likely to shop with you again and again.