ACH Payroll Processing & Fedwire Blog

ACH Payroll Processing & Fedwire Blog

How to Keep up with ACH Direct Deposit Best Practices

Tuesday, December 12, 2017
How to Keep up with ACH Direct Deposit Best Practices

Things change quickly in the world of payroll processing. And, with the recent launch same day ACH, it's about to get even faster.

How can you keep up with ACH direct deposit best practices to ensure that your clients are happy, their employees get paid on time and your bottom line is looking good? Read on to find out.

Same Day ACH

NACHA implemented same day ACH payment processing in September 2017 so that payroll direct deposits and other forms of ACH payments (debits) can be made earlier than "next business day."

Many payroll providers are already taking advantage. NACHA – the Electronic Payments Association, says business-to-business same day ACH payments that include direct deposits averaged over 10,000 transactions per day in the first month it was available.

However, there are some important limitations of its use and best practice guidelines for when to use same day ACH – and when to avoid it.

Learn more about same day ACH here...

Greater Speed Will Drive Demand for Greater Security

Payroll providers won't be the only beneficiaries, as many financial industry experts have pointed out.

Criminals will also take advantage – faster transactions means less time to review questionable payments. When things are moving quickly, it's more important than ever to know when to hit the pause button.

Security will be a key issue going forward even as the demand for speed, convenience and flexibility in payment processing continues to drive the popularity of ACH transactions of all types. A Federal Reserve study shows there were 23.4 billion ACH transactions in 2015, an increase of more than 3 billion from 2012, though ACH direct deposits are a small percentage of this total.

To reduce these ACH direct deposit security risks, providers like Cachet require direct wire or Fedwire transfers to prevent insufficient funds – this protects you as well as the ACH payroll processor. This will be even more important if NACHA increases the maximum ACH debit limit of $25,000 to $100,000 as WesPay is requesting.

One Month on Us & Free Audit Will Show You How Much You Can Save

Another best practice is to work with an ACH payroll provider that you can count on to keep up with all of these changes for you so that you can adhere to best practices.

Sign up for our ACH direct deposit payroll processing services before December 31 and we will give you one free month of payroll processing after two months of paid service.

If you're still unsure, we offer a no-obligation audit of your current services. If we find that we can't save you money, we'll give you a $50 gift card for your time.

These offers are restricted to new clients. Qualifications and other restrictions apply.

Contact us to get a free month of ACH payroll processing or an audit of your current services


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