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by Gotperl
4342 days ago
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> The real benefit is time of transfer. ACH is infuriatingly slow. If you'd like a payroll run to arrive in employee accounts on a Friday, it must be initiated almost a week prior. Ya, this isn't true. the ACH spec does say 3 business days, but 2 of those days are for redundancy. In all normal cases a transaction submitted today can and will post tomorrow. Your bank may not allow this for individual transactions, but it isn't because ACH can't accommodate it. Source: I run a payroll company doing $1B annually in ACH transactions. |
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