Benefits

BENEFITS:

 The Benefits of ACH are:

• Faster Access to Funds by reducing cycle time for cheque clearing and settlement – 1 day (Cheques between the participating islands will be cleared in the same time as local cheques).
• Added value to banks, which can offer new and improved products and electronic services.
• Added convenience to customers by the ability to offer new electronic services and faster turn-around times.
• Improved efficiency and accuracy within the system, by replacing manual, paper-based payment processes with electronic process.
• A more environmentally friendly approach - reduced amount of paper used in the payment processes.
• Increased Security by reducing the cheque fraud within the system.