ReliaFund Blog

During times of uncertainty, bad actors will take advantage of the fear and vulnerabilities of consumers. According to the Federal Trade Commission’s Consumer Sentinel Network, nearly 50,000 scams related to COVID-19 have been reported. From travel and online shopping to phony small business loan sites and coronavirus miracle cures, scammers are collecting personal data and…

Small business owners get busy and fall behind with maintaining accurate accounting records. But it’s critical that the closing amount in your bank account matches the closing balance on your account records. Account reconciliation allows you to catch errors in your journal entries and general ledger for small business. If they don’t match, then the…

As the volume of financial transactions increases through the Automated Clearing House (ACH) Network, the National Automated Clearing House Association (NACHA) continues to scale up its services to meet the demands of the market. NACHA recently announced the new dollar limit for Same Day ACH will now be $100,000. The increase quadruples the previous amount…

The COVID-19 pandemic has impacted daily life and disrupted how many of us do business. Due to stay-at-home directives, the focus in our industry has turned to processing payments through automated clearing house (ACH) processes, credit cards, phone, web and other applications.  We know of the capabilities of ACH payment processing for bill pay like…

You’ve spent your time getting to know your software and how it specifically benefits your customer. When you work in a niche market, it’s critical to understand how your customers will benefit from your services, as well as how you can deliver that information to them.  You know the idiosyncrasies of your customer base inside…

When you’re in eCommerce, you don’t have the brick and mortar element of customer service checking you out, so electronic checkouts should always be customer-centric and easy to use.  You’ll also want to be sure that your customers’ important information is protected, as data breaches can significantly damage your reputation and customer loyalty. It’s no…

ACH processing fees are far less expensive than typical credit card transactions. Since ACH bypasses the debit and credit card networks, interchange and assessment fees are eliminated entirely. With layered security protections, easy, automated solutions for customers, and the potential to save loads of money, ACH processing should be seriously considered if you don’t already…

In 2018, the ACH Network transferred 23 billion payments, or $51 trillion. Within the same year, internet payments went up 14.2 percent, valuing $2.9 trillion.  According to NACHA, consumers are certainly becoming more comfortable with internet payments via ACH. More and more merchants, especially small businesses and eCommerce merchants are capitalizing on the benefits that…