Cost Efficiency

Let’s talk dollars and cents. Traditional payment methods like wire transfers and paper checks can be surprisingly expensive. Wire transfers often cost between $15 and $50 per transaction, while checks not only have printing and mailing costs but can also incur processing fees. In contrast, ACH transactions usually cost just a few cents to a few dollars each. For businesses processing a high volume of payments, the savings add up quickly. Imagine redirecting those saved funds into other critical areas of your business. It’s a small change that can make a big impact on your bottom line.

Better Cash Flow Management

Cash flow is the lifeblood of any business. ACH payments can improve your cash flow management significantly. Unlike checks, which can take several days to clear, ACH payments are typically processed within one to two business days. This faster processing time means you get a clearer picture of your account balances sooner, reducing the risk of overdrafts and making financial planning more straightforward. Improved cash flow management allows you to make better-informed decisions and keep your business running smoothly.

Enhanced Security

Security is always a top concern, and ACH payments offer a more secure alternative to paper checks. Checks can be lost, stolen, or altered, leading to potential fraud. ACH transactions, on the other hand, are encrypted and processed through secure banking networks, greatly reducing these risks. With fewer manual steps involved, there’s also less chance for human error. This increased security and reliability help build trust with your clients and vendors, showing them that you’re serious about safeguarding their transactions.

Switching to ACH payments is a strategic move that can benefit your business in multiple ways. It’s cost-effective, improves your cash flow management, and enhances the security of your transactions. If you’re looking for a simple yet impactful way to optimize your financial operations, ACH is the way to go.

Bevel can set you up with an ACH account in less than 12 hours and no set up fees. Get more info by emailing us at info@bevelpayment.com.