How do ACH Processing and RDC work? 

by amy perry Monday, February 28, 2011
ACH Processing and Remote Deposit Capture (RDC) are two services offered to banks, financial institutions, merchants and nonprofit organizations. Despite the fact that ACH and RDC both facilitate the tons of transactions you have each day, these two concepts are different from each other. Take a look at how these two services can help you leverage your business against your competitors. Learn here how these services could most benefit your future.

ACH Processing (otherwise known as Automatic Clearing House Processing) is an ePayment solution that can work for your convenience – ideal for receiving payments from your own customers and perfect for disbursing payments to your employees and your suppliers. The good thing about this service is that you can process payments and receive them anytime and at any amount – efficient and cost-effective in every transaction with your clients and your merchants.

As a tool for receiving payments, ACH processing can help you electronically debit or credit your customer's preferred account be it savings deposit or checking. This will also allow you to set-up a program to collect from your customers who agree to recurring payments. This is ideal for subscription-based purchases as well as when collecting dues from your clients. As a tool for disbursing payments on your own expenses, you can use ACH processing to pay your vendors.

Remote Deposit Capture is a secure service that allows you to deposit money right into your bank account without leaving your office (or without sending any of your office staff to make the deposit for you). Simply scan the check image and then process it on a safe internet connection. Aside from allowing you to make secure deposits, Remote Deposit Capture also provides you access to your account balance anytime, anywhere.

Basically, in order to enjoy all these services from Remote Deposit Capture, you are required to have a check scanner, Internet access, and a computer of course. Some systems allow you to attach as many checks as you want in a single deposit. Then, the system will also take care of the rest of the job for you making sure that your deposit information will be transmitted appropriately to your bank. Since you are depositing checks via the RDC, expect that the money will be pending in your account for at least two banking days.

ACH Processing and Remote Deposit Capture are electronic solutions you can rely on for the smooth operation of your business. Find a reputable company that can offer your business these tools and be sure to ask questions. Make an informed decision and enjoy the benefits of accurate and cost-effective electronic transactions.

Resource Box: Want to try ACH Processing or Remote Deposit Capture services? We can help you learn more about these processes.

General | Categories: financial
0    submitted by amy perry
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