Notes

E-check
An E-check, often known as an electronic check, is a computerized equivalent of a paper check. Money is electronically withdrawn from the payer's checking account, sent over the ACH network, and deposited into the payee's checking account when using an E-check. These payments are made possible by the "Automated Clearing House" (or ACH) network, an electronic network utilized by financial institutions in the United States. A business can use an ACH merchant account to withdraw payments for goods or services straight from their customers' bank accounts. Paper cheque processing is similar to electronic cheque processing, however it is faster. Instead of a consumer manually writing out a paper cheque and mailing it to the company they need to pay, technology allows the process to be completed electronically, saving both time and paper waste.
The payment is automatically deducted from the client's bank account, a payment receipt is emailed to the customer, and the payment is placed into the business' bank account. Three to five business days after the transaction is conducted, funds are normally put into the merchant's bank account. With an E-check, money is electronically withdrawn from the payer's account, sent to the payee's banking institution over the ACH network, and then electronically deposited into the payee's account. This is done in the same way as paper checks are processed, just electronically. E-checks are one of the most common types of recurring payments. Verify that the firm or person to whom you are transferring money has an ACH merchant account before submitting an electronic payment.

https://nexinov.com/echeck