process customer payments, and manage vendor transactions. Government agencies: The IRS and Social Security Administration use ACH to send refunds, benefits, and other payments. Financial ...

Benefits of using ACH payments ACH payments have different costs depending on the type of transfer and the parties involved, but the fees are generally much less expensive than wire transfer fees ...

They are widely used for payroll, government benefits, and bill payments. The two main types of ACH transfers are direct ...

To reduce risks, businesses should require customer authorization for ACH debits, use account verification tools, and implement dual authorization for high-value transactions. Common fraud tactics ...