Deposit Money to Your Customers Bank Account Today
If you need to transfer funds to any bank account in the United States today and want to avoid costly bank wire fees then Same Day ACH is for you
Who is this for?
- Any business that wants to pay other companies or individuals on the same day
- You already use ACH processing but want the speed of sending same day ACH credits.
- You want a less expensive alternative to sending bank wires
- You want to eliminate sending payments by paper check and mail
How it works?
1. Fund Your Credit Account
2. Submit a single or mass payment
3. Total amount to be paid out is drawn from your credit account and sent via ACH credit to your payee’s bank account same day within the United States.
Benefits
- Great for emergency payroll
- Faster business to consumer payments
- Faster business to business payments (ship/release goods faster)
- Avoid late vendor due date payments
- Eliminate the headache, expense, and hassle of sending payments by mail/paper check
- Send same day single or mass payments to any bank account in the United States.
- Make mass payments easily. Create scheduled & recurring payments
- Avoid expensive bank wire fees. Send money same day at a fraction of the cost.
- It cost money for your payees to receive a bank wire. It does not with ACH.
- Safe, Secure, fully electronic
- Robust online reporting for easy reconciliation
Bank Wire Fees
Tired of spending a fortune on bank wire fees? Use same day ACH instead at a fraction of the cost.
Bank Wires are costly for you and the person you’re sending money to. If you’re sending under $25,000 then you need to take a look at using Same Day ACH instead.
What is Same Day ACH?
*NACHA, the governing body of the ACH network, has adopted a new Rule that will enable same-day processing of ACH payments in the United States.
All RDFIs (receiving bank) would be required to receive same-day ACH payments, thereby giving ODFIs (sending bank) and Originators the certainty of being able to send same-day ACH payments to accounts at all RDFIs.
*NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data in the United States. Source: nacha.org
When does the person or business I’m sending money to see the deposit in their bank?
Payments sent before 1pm central will show as available funds in your customer’s bank account by the end of their banks processing day.
What type of transactions are eligible?
Per the new NACHA rule, Same Day ACH is available starting September 23 rd , 2016 for ACH credits only.
Only domestic transactions under $25,000 are eligible. Same Day ACH for debits will be available as part of the phase 2 rollout starting September 15, 2017.
Note: We currently offer same day ACH credit service and next day ACH debit service.
What does it cost?
The cost is based on industry risk and volume of transactions per month. Call us to receive a no obligation price quote
What is a Payee?
Any person or business you are sending money to.
What type of bank accounts are eligible to receive money?
Business and Individual bank accounts located within the United States
What time will the payee see the money deposited in their bank account?
An ACH credit sent prior to the cutoff submission window (1pm Central) will be deposited as available funds to your customers bank account before the end of their banks processing day.
Invest 7 minutes and see exactly what we can do for you
Recent Posts
Fund Loans Almost Instantly to Virtually Any Debit CardOctober 3, 2017 - 9:41 pm- How to Get a High Risk Merchant Account without Getting Ripped OffOctober 3, 2017 - 9:39 pm
- 4 ACH Processing Mistakes That Can Sting YouOctober 3, 2017 - 9:34 pm
- Check Verification – A New Tool to Lower Your Risk of Losing MoneyOctober 3, 2017 - 9:32 pm
Contact Information
Victory Payments
175 Capital Blvd., 4th Floor
Rocky Hill, CT, 06067
Since 1999 we’ve been helping clients like you reduce ACH, Check, and Credit Card Processing costs.
Cutting edge tools, seasoned experts to guide you…all built on a billion dollar transaction platform. Let us show you what we can do for you.
