The Syrasoft Automatic ACH Payment Processing Package provides property owner/managers with the capability to set up customers/tenants on automatic payment when they give the property permission to debit their checking accounts automatically when rent is due. ACH/EFT payments process ahead of  paper checks, speeding up the check clearing process for merchants, costing businesses much less in processing costs than credit card payments, non sufficient funds check fees, and reducing float time for tenants.

The processing fees charged by banks and processing companies for ACH/EFT transactions are very competitive with those charged for paper checks and credit card processing. Additionally, ACH/EFT’s save owners money in time and labor. Because these transactions are automatic and preauthorized, they don't carry the threat of charge backs associated with credit-card payments. Once the customer's checking account has been debited, the transaction is final.

The Check Clearing for the 21st Century Act (Check 21), which went into effect in the U.S. on October 2004, allows the electronic image of a paper check to be substituted for the original at a bank or in a court of law. When merchants deposit paper checks, the banks can process them electronically without needing the consent of the check-writer or originating bank. The bank simply scans and shreds the paper check, converting it to an electronic check before distributing it to the originating institution.   This same check conversion capability is available to U.S. merchants and is very beneficial to those merchants who transact large numbers of paper checks via the Syrasoft ACH Payment Processing Package.

Take a look at the video below to see our ACH Interface at its finest.

ACH Interface Video Demonstration: