EMB Offers Same Day ACH Processing Through Multiple ACH Partners

Apr 20, 2017

The Automated Clearing House (ACH) Network is the main network that processes much of the financial transactions in the US.

ACH Processing

Thanks to the ACH Network, money and information can be sent from one bank account to another through Direct Deposit and Direct Payment via ACH transactions. The latter transactions include:

  • ACH credit and debit transactions
  • Recurring and one-time payments
  • Government, consumer and business-to-business transactions
  • International payments
  • Payments plus payment-related information

Each year, the ACH Network processes over $41 trillion and 24 billion electronic financial transactions. The ACH Network is among the world’s largest, safest and most reliable payment systems. It creates value and enables innovation for all participants.

When it comes to Same Day ACH, this is a new rule adopted by the National Automated Clearinghouse Association (NACHA). The latter manages the development, administration, and governance of the ACH Network. As a result, payments are being processed within 1 business day and not the next day or day after. Same Day ACH enables the same day processing of most ACH payments.

EMB has recently announced Same Day ACH processing partnerships. Merchants find ACH processing one of the most reliable ways to collect funds from customers. Most merchants prefer ACH processing as it allows for setting up legitimate debits drawn from customer’s checking accounts. Thanks to the ACH processing offered by emerchantbroker.com (EMB), these debits can be scheduled as a one-time occurrence, or on a regular recurring basis.

Same Day ACH Phases

Same Day ACH was designed to become effective over three phases beginning in September 2016. The aim was to allow financial institutions and businesses to adjust to a faster processing environment and ease the implementation process. Particularly:

Phase 1: NACHA adopted a Rule to provide a new, ubiquitous capability that would help move ACH payments faster. The same-day processing was meant for virtually any ACH payment.

Phase 2: Beginning September 15, 2017, Same Day ACH will be available for debit entries, enabling the same-day processing of virtually any ACH payment.

Phase 3: Beginning March 16, 2018, Receiving Depository Financial Institutions (RDFIs) will be mandated to make funds available from Same Day ACH credits (such as payroll Direct Deposits) to their depositors by 5:00 PM at the RDFI’s local time.

If you’re interested in Same Day ACH, turn to EMB, the #1 high risk payment processor in the US that boasts an A+ rating with the BBB. Now, you can secure Same Day ACH processing through EMB’s strategic partnerships.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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