An experienced product manager from Minnesota, Daniel Rich Galinson is currently the national account executive of Solutran. Daniel Rich Galinson is an accredited ACH professional specializing in ACH payments.
ACH is the acronym for automated clearing house, an electronic network that enables people to transfer capital from one bank account. ACH transfers are among the most used nowadays as, since their inception, there have been over 26 billion transactions. A simple example of how ACH transfers work is that employers typically transfer money directly into the account of their employees without sending paper paychecks.
One benefit of ACH transfers and payments is security. A survey and study from 2021 reveal that paper checks are the payment method most subjected to fraud. They have to be reviewed by several entities and sent through the mail, which means that the information can be visible and easily stolen. ACH payments are faster and save time for people as they no longer have to go to the bank regularly. They can also save companies and banks some money by reducing human error.
