Dry cleaning and laundry shops help in removing tough stains, handling delicate fabrics, or pressing clothes for a polished look. However, running this business is not just about cleaning clothes. It involves buying supplies like detergents, hangers, and packaging materials, as well as paying for equipment repairs and other services. For this, you have to look for an efficient solution that is both cost-effective and time-saving. One of the efficient methods you may consider while making vendor or supplier payments is ACH transfer.
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What is ACH Transfer?
ACH transfer is an electronic process that moves your funds from your bank account to your payee’s account. You may process these payments through the Automated Clearing House, which connects all the financial institutions in the United States. Most of the businesses in America heavily depend on the ACH network to process payments. This is because it simplifies regular financial transactions and is an affordable option compared to traditional methods.
Easily Make ACH Payments with the Cloud-Based Platform
You can pay vendors and suppliers securely and efficiently using Zil Money. The platform helps you to set up ACH payments with a few clicks at your convenience. With this, there is no hassle of visiting your financial institution every time you need to make a payment. You may also track the payments easily on the cloud-based platform. Just set up one-time or recurring ACH payments on the platform according to your needs.
Using recurring ACH, you may ensure timely payments without the need for constant manual oversight. When you use traditional methods to send vendor payments, you have to remember them each time. If you forget, your vendor may even hold off on the next delivery, and you may be short on essential cleaning supplies. So, setting up recurring payments can be a good option, as it will automatically deduct money from your account on the same date of each month. Therefore, there will be no delays in your payments, your vendors will be satisfied, and you can focus on your business.
To start an ACH payment on the platform, all you need to do is complete your one-time account setup. Then, you may verify your bank account with the platform within seconds. Once you have completed the verification, you can easily make ACH transfers at affordable costs.
Same-Day ACH Payments
Imagine a situation where you realized that your detergent stock is critically low due to higher-than-expected customer demand earlier in the week. You immediately contact your supplier, and they have the stock. However, the supplier has a strict “payment-before-delivery” policy for rush orders. In this situation, using a regular ACH transfer may not be a good option. This is because it usually takes two to three business days to process. So, you need a better solution.
Complete your last-minute transactions quickly and affordably with the same-day ACH feature of Zil Money. With this feature, you may send payments within the same business day, and it will reach your payee’s account within the next business day. You may easily reduce the risk of late payments with this efficient method of transferring funds.
How to Make an ACH Payment on the Cloud-Based Platform?
- Log into Zil Money and start by clicking on the home page.
- Choose Bank Account from the drop-down of Pay From and ACH from the drop-down of Pay As.
- Then, you may enter the amount, select your bank account, choose the payee, and select the industrial type.
- After that, add your invoice number, select the category, and enter the memo.
- You may also add attachments, comments, and remittances.
- Once done, you may save the payment or send it by clicking on ACH/DD Now.
- You may view the initiated payment by clicking on View Payment.
Other than ACH, you may make payments via wire transfers or checks on the platform. Let us see each of them.
Make Payments via Wire Transfers
Sometimes, you may have to make urgent large payments for any equipment repairs or to buy a new machine. In this situation, one of the quickest and most secure methods you can rely on is wire transfers. With Zil Money, you can make domestic as well as international wire transfers. To make a domestic wire transfer, you will need a routing and account number. It will take only a few hours to clear a domestic wire transfer. Meanwhile, to send an international wire transfer, you will need a SWIFT or IBAN code. It will take only a few days to clear an international wire transfer.
Make Payments via Checks
Even though digital payments are increasing, some of your vendors may still prefer checks. Zil Money helps you print your checks instantly on demand. For this, all you need is blank stock papers and any printer. You may also mail checks to your vendors via USPS or FedEx using the platform. Just create or import checks, and the platforms will print and mail them on your behalf. Also, send eChecks via email or SMS to your vendors. Your vendor will receive them as a one-time printable PDF that can be printed and used like a regular check.
The Conclusion
As a dry cleaning and laundry shop owner, you can make vendor payments on time using ACH transfer on Zil Money. The platform provides one-time, recurring, and same-day ACH payments. You may select the one you need and make payments on time. Other than ACH, the platform also provides other payment options like wire transfers and checks. With all these payment options, you can easily and smoothly run your business.
