Webmasterchecks Releases New International ACH Payout Option

Surprise, AZ (PIN Payments Blog) August 22, 2009 -- Arizona-based check payout processor Webmasterchecks has announced they are now able to provide International ACH Services  (PDF) for companies interested in making direct payments to Europe, Canada, and Mexico. These new payment options allow international affiliates of Webmasterchecks clients to receive their funds directly to their bank accounts in a shorter time span than previous methods, as well as ACH being generally recognized as among the most commonly used payment transfer methods in those regions.



"We have made transactional arrangements with U.S. Bank" said Rich Lloyd, of Webmasterchecks" to expand our international ach payment methods that we offer to include an ACH solution for Canada and Mexico, as well as Austria, Germany, the Netherlands, Switzerland and the United Kingdom, which is a very big step forward for our company and our clients because citizens in many areas of those regions are very familiar and comfortable with ACH, much more so than other payment types such as foreign checks, for instance."








U.S. Bank is the 6th largest commercial bank in the United States, backed by its parent company U.S. Bancorp (NYSE: USB), a publicly traded financial institution with $266 billion in assets. The bank operates 2,850 banking offices and 5,173 ATMs along with its concentration in paperless payment processing.



Automated Clearing House (ACH) transactions are quickly becoming popular in Europe, as the individual European governments are quickly expanding infrastructure to accommodate Single Euro Payments Area (SEPA), an initiative for the European financial infrastructure which involves the creation of a zone for the euro in which all electronic payments are considered domestic, and where a difference between national and intra-European cross border payments does not exist.



"Business owners are seeing International ACH as a increasingly useful payment tool because the transactions are booked directly with the bank and can be settled in a variety of currency choices" said Rich Lloyd. "That makes the accounting side of the equation much easier with the transactions instantly reported and the electronic data-trail far easier to work with than a traditional paper-trail from thousands of physical checks."





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