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How does ACH processing work?

ACH processing refers to moving of money electronically using Federal Government's Automated Clearing House. This clearing house provides a centralized communication network that allows for both electronic transfers of funds and reporting of these transfers.

Essentially banks have a pipeline (usually called a Fed Line) that connects them directly into ACH network. This pipeline allows information to be transmitted that instructs clearing house to transfer funds to and from bank accounts. The banks typically receive raw data reporting bank from Federal Reserve ACH system. (Note: There are private clearing houses as well).

Most banks possess at least ability to use a Fed Line. Some make use of this and some don't. Those that do typically have very limited front end tools. By front end we mean methods of getting transaction data to them. Their reporting systems tend to be even more primitive.

For these reasons third party processors (TPP's) entered ACH arena. The third party processor saw myriad benefits and opportunities to provide businesses ability to easily move money electronically. By developing user friendly front end tools and robust reporting third party processor has been able to offer businesses tools they need. The vast majority of TPP's have a partner bank(s) and they tie into that bank's Fed Line.

If you are familiar with credit card processing you may assume ACH processing operates in a similar fashion. It doesn't. Whereby a credit card transaction places a hold on available credit on customer card an ACH transaction is quite different.

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Thank you! Nily

ARE YOU CONCERNED ABOUT SHOPPING ON THE INTERNET? By Nily Glaser Copyrights Nily Glaser, all rights reserved 2003

With holiday season close at hand, many would be Internet shoppers are concerned with on-line security issues and fear of "Identity theft".

Yet, shopping on Internet is changing our way of life. The question is: "Is it safe to shop online?" The answer is that internet is a very safe place to shop, as long as you are careful and take some precautions to protect yourself.

When you shop online via a merchant that offers a SECURE SERVER, you are probably safer than when you use your credit card at an off line brick and mortar establishment. Additionally you benefit by being able to find: · a huge variety and options for what you are looking for, · shop from convenience of your home or office, · shop anytime day or night, · shop without pressure of over eager salespeople. So, forget traffic, forget store hours, forget crowds and forget lines at cashier's stands.

Following are a few precautions you should take to feel secure Shopping on Internet.

Safety Tip # 1: Shop at sites that post a physical address, an E-mail address and a telephone number. If you are not quite sure, E-mail them. They should reply within 72 hours. CALL them and make sure you can talk with a PERSON, not a machine. Jot down name of person you spoke with. Ask a few questions regarding merchandise, policies, etc... Once you are satisfied, proceed with your purchases.