ACH vs. EFT

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If you have a global presence, electronic payments are the most secure way of ensuring you receive payment for your products. An electronic funds transfer (EFT) is a blanket term for all funds transferred electronically between a bank or financial institution and an individual or merchant. Automated Clearing House (ACH) payments fall under this blanket and are authorized by a collective network known as the National Automated Clearinghouse Association (Nacha). Nacha authorizes electronic funds to be processed between two parties in an ACH payment.

CSG Forte’s unified platform provides your business with the tools to scale your payments and accept electronic ACH payments. You’ll receive your money safely and swiftly thanks to our seamless technology and robust security measures. As a Nacha preferred partner, we ensure your sensitive data remains secure while our system processes the funds for you.

The Difference Between ACH and EFT

ACH is just one type of EFT payment. When you initiate an ACH transaction, the money is deposited into the recipient’s account and channels through a network that authorizes the funds. A direct deposit is a sum of money paid directly into a bank account through digital channels independent of bank staff. In this sense, a direct deposit is also a type of EFT transaction. Other types of EFT payments can include wire transfers, mobile money applications and checks.

There are key differences between ACH and other EFT transactions to be aware of:

  • ACH transfers are settled and cleared in batches and not individually, such as with EFTs.
  • ACH transfers and EFTs may have varying fees and costs.
  • Traditional ACH transfers usually take a few business days to authorize, whereas some EFTs are cleared immediately.

How Is an EFT Payment Processed?

The manner of processing depends on the type of EFT transaction. Wire transfers channel through banks and member-based digital networks. Direct deposit payments move between two bank accounts via digital channels. ACH transfers are authorized through the Nacha network, which offers extra protection and a safer way for businesses to transact.

The Benefits of Accepting ACH Payments

Any bank transfer or check deposit comes with fees. Because ACH makes payments easy and safe, more people use it, lowering costs overall. Depositing checks can be a manual and time-consuming process. Additionally, you’ll have to wait a few business days before the funds reflect in your account. Some ACH transactions save you time with same-day clearance without the need to visit the bank.

One of the most attractive features of ACH payments is security. Your funds are protected and authorized through a reliable third party. Sensitive information, such as bank account and routing numbers, is encrypted and hidden as an added security measure.

CSG Forte’s ACH Payment Solutions

We offer your business a comprehensive and safe way to accept ACH payments with added security measures through our payment platform. Our platform takes care of the exchange, keeping your money and information secure. Take advantage of:

  • Real-time reporting: Monitor your transactions and get real-time alerts connected to your account and funds.
  • Seamless integration: You can easily integrate our solutions with your existing payment platform.
  • Tokenization and end-to-end encryption: Your account number stays hidden, and your information cannot be shared.

Key Features of CSG Forte’s ACH Payment Solutions

CSG Forte understands you need a simple, effective payment processing solution that protects you and your end users. Experience safe and seamless ACH payments through our:

  • User-friendly interface: To bring you a simplified solution, our ACH interface is easy to use.
  • Multilayered security: We understand that safety and privacy are concerns, which is why our platform uses layers of security to protect your data.
  • Customization options: We keep your growth in mind. Our platform is customizable and scalable to fit your business requirements, whether you’re a large corporation or an independent software vendor (ISV).

Case Study: Rentec Direct

Rentec Direct is an all-in-one property solution provider. The business sought new payment processing methods to reduce lag time and late payers. By adopting ACH along with other solutions from CSG Forte, Rentec Direct was able to save time and money with seamless integration and secure payment acceptance.

Landlords and property owners saw a reduction in late rent payments from 22% to only 1%. Since using CSG Forte’s solutions, the company enjoyed an average of 98% revenue growth over four years.

Getting Started With ACH Payments Through CSG Forte

Getting started with our ACH payments solution is easy. Our software is language- and software-independent, so you can integrate it as a complement to your existing systems or use it as a stand-alone platform.

We’ll support you during the implementation phase with:

  • Training: You will receive training to manage your new platform with ease.
  • Resources: We offer onboarding resources for you to utilize and capitalize on your software.
  • Ongoing customer service: You have a partner when you do business with us. Our dedicated customer service team will answer any questions or concerns you may have.

Explore ACH Payment Solutions With CSG Forte

Millions of businesses and employers are already using ACH as their preferred payment method thanks to its safety features. CSG Forte understands your need for secure payment alternatives to scale your business and boost revenue. Keeping your data safe is our priority. We facilitate a safe, affordable way for you to accept payments.

Get started today and discover the benefits of secure ACH payments. You can also reach out to us online through our contact form. Feel free to call us at 866-290-5400 if you have any questions.