Do Customers Have to Worry about Security?
Business and individual customers and consumers have less to worry about when they pay by EFT than they do when they pay by check. When a check is used for payment many different people in many organizations usually handle it before it gets back to the writer’s bank. This multiple handling presents security problems for the consumer and the business. With EFT the information from a voided check is entered once into the business accounting program and not seen again. Payment transmissions are encrypted and sent through the secure wires of the ACH Network to the Federal Reserve Bank. There is an immediate record of who initiated the payment transmission in the business and of the account that received the payment in accordance with the agreement and authorization between the customer and the business.
