Make ACH Transactions Seamless, Easy, and Secure by Adopting Zil

Aug 25, 2022 | ACH

Zil is a financial technology company, not a bank or an FDIC member. Zil offers banking services through partnership with FDIC member banks Silicon Valley Bank and Texas National Bank.

Zil is a great way for businesses to make financial transactions without hassle. Pay invoices and payroll through Zil’s cloud-based banking platform, and move money between customers or payees on a one-time or recurring basis. Zil allows businesses to send and receive money by just providing account information. Businesses can make ACH transactions with Zil at an affordable rate.

What is an ACH transaction? 

ACH is the U.S. financial network that people use to make electronic payments. This includes direct deposits into your bank account and monthly automatic bill payments. ACH transfers are when you use this network to move money from one bank to another. Zil is a cloud-based banking platform that offers low transaction fees for ACH processing.

How to Make ACH Transactions with Zil? 

You need to open a business checking account with Zil to make ACH transactions. 

  • Step 1: Log in to Zil and choose a cloud bank account.
  • Step 2: Click on the Send Payment button and select ACH from the drop-down menu.
  • Step 3: Select a contact, add the amount you want to send, add the payee’s bank account details, and click Send. 

ACH transactions usually take 1-2 business days. Zil offers same-day ACH transactions that allow the transaction to be completed on the same day it is initiated.

ACH Network Process ACH Transfers 

The National Automated Clearing House Association (NACHA) runs a secure system that makes this possible. These systems are designed to be reliable and efficient and play a vital role in keeping the ACH transaction system running smoothly and securely.

Is ACH safe?

NACHA wants all parties involved in ACH transactions (businesses initiating payments and third-party processors) to protect sensitive data. This includes using safe technology to transmit banking data (such as routing and account numbers). Zil allows you to process ACH Transactions faster and enjoy other benefits for your business checking account.

How do ACH Transactions work? 

The ACH network is composed of two distinct types of transactions ACH credits and debits. When someone moves money from one bank account to another, this is called a Credit transfer. This happens when money is deposited into someone else’s account. The transaction in which the beneficiary account takes the funds away from the originator account is called a debit transaction. This happens when a customer authorizes a merchant to make an electronic payment.

ACH Transactions work by having an operator receive electronic entries, debits or credits, from banks. The bank of the purchaser records the transaction on the purchaser’s account. Additionally, ACH is easy and secure with Zil.

    ACH Transfer vs Wire Transfer 

    Ach transfer: An ACH transaction is a way to electronically transfer money between banks, credit unions, or other financial institutions. The Automated Clearing House uses a clearinghouse as an intermediary between the parties involved in the transaction.

    Wire transfer: A wire transfer is a bank-to-bank transaction that allows money to be transferred between two accounts. The wire transfer process involves banks.

    The main difference between ACH and wire transfer is that wire transfer can only push money. ACH can push and pull money, which means it can get money from other places. A wire transfer moves large sums of money up to many millions. It usually gets credited quicker than ACH. Wire transfer usually has a higher transaction fees percentage than ACH. Choose the best payment method for your business deal and your cash flow needs. You can use ACH, direct deposit, printable check, or international wire transfer on Zil modern banking.

    ACH Transactions are comparatively less expensive. With Zil, you can enjoy hassle-free ACH payment processing.

      How Long Do ACH Transactions Take?

      ACH Transactions usually take a few days to go through. This is because the ACH network sends payments in batches, unlike wire transfers which are sent instantly. Financial organizations can choose to have ACH credits delivered and processed within one business day or in one to two days. However, ACH debit transactions must be processed the following business day. There is a way to make ACH transactions faster. The process is called same-day ACH transactions. You can use the same-day ACH feature to process payments within the same day.

      Looking for a quick, easy way to send and receive money without any hassle, look no further than Zil, the perfect financial solution. You can make transactions with other businesses or customers in minutes with only account information. Pay invoices and payroll through this cloud-based banking platform, and move money between customers or payees on a one-time or recurring basis. Plus, you can even use it for ACH transactions at an affordable rate! If you’re looking for an easy way to manage your finances, give Zil a try.

      Get in Touch

      (408) 775-7720

      Make a call directly with our customer support team to make it instantly.

      Mail to us to solve any queries you have with Zil.

      111 N Market St, San Jose, CA 95113

      Po Box 6543, Tyler TX 75711

      You May Also Like…