What is Same Day ACH?

Posted by Checkbook on Jan 22, 2019

ACH accounts for over 90% of all electronic payments in the United States with upwards of $50 trillion passing through this system each year! Despite having more advanced payment technologies available, ACH seemingly shows no sign of slowing down.

A clearing house is an intermediary between parties exchanging goods, in our case, a check. When this intermediary is intangible and electronic (ie., “automated”), we refer to the transaction as being settled via the Automated Clearing House (ACH).

While traditional ACH payments take 3 business days or more to settle, ‘Same Day ACH’ payments, as its name suggests, are settled within the same business day as long as the payment is submitted before 5PM local time. Same Day ACH is the fastest this payment rail gets!

Businesses can leverage Same Day ACH functionality to transact up-to $100000 per transaction to make payroll payments, expedited bill or mortgage payments and other B2B payments.

About Author: Shreeya Agarwal

Related Posts

How COVID-19 Will Change the Future of Work

The pandemic of the 21st century has forced more than 20 million Americans out of work. Undoubtedly, the workforce will have to adapt to societal changes caused by this pandemic.

Landmark Class Action Distribution Utilized Digital Checks From Checkbook.io Saving Time And Cost

"We partnered with Checkbook as of April of this year. I'm pleased to say that with the Checkbook platform, the transition to Digital Checks has been easy, painless and fast," says Steve Weisbrot, Chief Innovation Officer at Angeion. "I simply can't imagine why any company in the business of sending hundreds of checks a month or more would not utilize this technology."

What is ACH?

ACH or, Automated Clearing House, is a widely used digital technology for transferring funds from one bank account to another.

Ready to get started?

Explore Checkbook, or create an account instantly and start sending payments. You can also contact us to design a custom package for your business.

icon
Always know what you pay

Integrated per-transaction pricing with no hidden fees.

icon
Start your integration

Get up and running with Checkbook in as little as 10 minutes.