How does the Automated Clearing House System work?
Each payment conducted via APlacetoLive.us’s Electronic Payment Service will initially be deposited by way of high speed cable modem into a APlacetoLive.us Merchant Account. From this pool of funds, an Automated Clearing House System will be utilized to complete the transaction. This ACH System employs a three-step security process. The Account Manager first gathers all relevant information related to each attempted payment and marks such payment for deposit into its designated account. Second, the Accounting Department confirms that the payment is indeed accepted by his/her financial institution. Once the payment is designated for deposit in the correct account and payment ability is verified, the Management Department checks the accuracy of all information related to each payment and must give the final approval in order for the transaction to be completed. This system is designed to ensure that the precise amount of payment is deposited into the designated property owner’s account.
