Improved Processing Speeds
Paper checks are burdened by a number of tasks that take up time, which inevitably slows down the entire process. Even if it’s a few hours, it’s a few hours per transaction you need to make. This soon adds up and slows down the entire company’s progress. Paper checks need to be posted, checked by hand then processed in a system that can take days. Moreover, the intermediaries are prone to making mistakes that can delay your transaction even more than it would be originally, or even lose the physical check, forcing you to write a new one and begin waiting again. ACH payments make sure that this wait time is almost entirely cut out. No intermediaries mean no human error, so no delays nor having to re-input the transaction. A boon to the ACH network is that banks tend to favor these transactions too, so they are frequently processed before physical checks are. This means you cut down on all of your timings by a huge margin, stopping payments from taking up such a large portion of your workweek.
