What are ACH services?
Bank of America Automated Clearing House (ACH) is an electronic payment delivery system that allows you to make payments or collect funds electronically through the ACH network. We can help you take full advantage for the speed, accuracy and efficiency of electronic payments and collections available through ACH, giving you better control over the timing of payments posting to your bank accounts.
How it works
ACH transactions are generally next-day entries when exchanged with other financial institutions. You can take advantage of our expansive footprint and receive same day posting of items that apply to another Bank of America Account. Accounts payable and accounts receivable functions include:
- Direct deposit
- Consumer debits
- Check conversion
- Corporate trade payments
Potential benefits
- Improved forecasting by eliminating check float
- Improved efficiency and accuracy by utilizing an electronic platform
- Reduced exposure to check fraud by reducing or eliminating paper check volume
- Reduced check expenses
For more information about our Bank of America ACH service including terms and conditions that may apply, contact your Treasury Services Representative.
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