ACH Processing with Actum: What to Expect

ACH Processing

If you’re new to ACH processing, outgrowing your current processor, or simply securing redundancy measures, Actum offers fast, secure, and reliable merchant services. As ACH industry veterans, we’ve developed a comprehensive suite of payment submission methods and reporting capabilities, and a vast network of software partners and banking relationships, to help thousands of businesses connect to the ACH Network.

But what does processing with Actum actually look like? This post will explain what you can expect when you start originating (or helping your clients to originate) ACH payments via Actum.

What to Expect

ACH payment processing with Actum can be broken down into three steps.

Get Approved

Actum helps streamline the application process as much as possible, and our support team is here to help you every step of the way. You’ll answer some questions about your business and your ACH payment needs, submit copies of supporting documentation, and sign the agreement. Our intake team will review your application and reach out to you within 24 business hours.

Actum is highly compliance-oriented, so the review process may take a couple extra days and require additional documentation if our underwriters need to clarification. That said, 95% of our applications are approved within 1-2 business days.

Submit Your First Transaction

It’s easy to submit transactions for your appropriate SEC Code. If you do business in-person or over the phone, you’ll likely submit your first transaction through Actum’s web-based portal. On the other hand, if you do business online or via partner software platform, you’ll likely submit your first transaction via API or batch upload (SFTP).

Once you’re approved, you gain full access to our excellent support team. We can walk you through our online portal, guide you through integration and testing, set up parameters with your third-party software provider, and answer any other questions you may have. In addition, we offer the option to sign up for a free test account, that allows you to learn about the Actum platform and test out different scenarios, without fear that you’ll mess anything up.

Get Paid

When it comes to managing your cash flow, ACH settlement times are an important consideration. For qualified merchants, Actum supports an Accelerated Payouts feature that can shorten your settlement time to 2, 1, or even 0 business days. Please Contact Us for details.

Finally, one thing that sets Actum apart is our attention to constantly improving and streamlining your internal workflows. To this end, we offer a comprehensive set of real-time reports for your accounting department to track payment statuses, returns, and even offer an array of billing options that can save your team hundreds of hours a year. We encourage you to ask about your options when it comes to gross vs. net settling, depositing funds into multiple accounts, collecting processing fees from a separate bank account, and other remittance reporting tools.