Important Terms:
ACH: ACH is an electronic funds transfer (EFT) between two bank accounts using the Automated Clearing House (ACH) network. It's a secure way to transfer money without using paper checks, wire transfers, or cash.
eCheck: Processing a check electronically
ACH/eCheck Payment Details:
- Company Name: your business name as registered with your payment processor
- SEC Code: the specific code indicating the nature of the transaction
- Additional Details: depending on the setup, descriptors may also include Invoice numbers, customer references or other identifying information
Example: [COMPANY NAME SEC Code Additional Details] SERVICE FUSION PPD ID:1234567890