Electronic payments, such as Direct Deposit and Direct Payment via ACH, are the simple, safe, smart, and environmentally friendly way to make and receive payments.
HERNDON, VA (PRWEB) May 01, 2013
Today, NACHA — The Electronic Payments Association announced that Congressman Gerald E. “Gerry” Connolly of Virginia submitted a proclamation into the Congressional Record designating May as Direct Deposit and Direct Payment via ACH Month. Celebrated annually in May, Direct Deposit and Direct Payment via ACH Month seeks to raise awareness of the benefits of electronic payment options.
“NACHA applauds Congressman Connolly for officially designating May as Direct Deposit and Direct Payment via ACH Month,” said Janet O. Estep, president and CEO of NACHA. “Congressman Connolly’s action today will help raise the visibility of Direct Deposit and Direct Payment Month and ultimately increase awareness and use of these electronic payment options, which help conserve the environment, and save time and money, for both consumers and businesses alike.”
In signing the proclamation, Connolly “commend(s) NACHA’s commitment to consumers and to providing a safe, secure, and reliable network for direct account-to-account consumer, business and government payments.”
“Electronic payments, such as Direct Deposit and Direct Payment via ACH, are the simple, safe, smart, and environmentally friendly way to make and receive payments,” said Estep. “With Direct Deposit and Direct Payment, which are easy to set up and use, consumers and businesses can eliminate the time and hassle of writing paper checks, making trips to the bank or credit union, and ensure that their payments are delivered quickly, directly, and seamlessly.”
In addition to Congressman Connolly’s proclamation, U.S. Senator Mark R. Warner of Virginia also recognized May as Direct Deposit and Direct Payment via ACH Month through a Congressional Letter. In his letter, Senator Warner acknowledged that “Direct Deposit and Direct Payment are secure, confidential, convenient, fast and proven services. They help you manage your money while gaining control of your finances. They give you discipline as well as peace of mind. The use of these services makes a positive impact on the environment.” Additionally, he “encourage(d) Virginians to use these electronic payments.”
Direct Deposit via ACH is the deposit of funds for payroll, employee expense reimbursement, government benefits, tax and other refunds, and annuities and interest payments. It includes any ACH credit payment from a business or government to a consumer. Direct Payment via ACH is the use of funds for making a payment. Individuals or organizations can send or receive a Direct Payment as an ACH credit or debit. Direct Payment transactions can include bill payments, person-to-person payments, business-to-business payments, online and mobile purchases, and purchases made through online banking. Each year, the ACH Network processes more than 21 billion Direct Deposit and Direct Payment transactions totaling almost $37 trillion.
For more information about electronic payment options such as Direct Deposit via ACH or Direct Payment via ACH, visit http://www.electronicpayments.org.
About NACHA — The Electronic Payments Association
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit http://www.nacha.org, http://www.electronicpayments.org, http://www.payitgreen.org, and http://direct.nacha.org.