Process Local Electronic Payments

Electronic payments ensure that your business receives fast payment for goods and services. PacNet maintains an international network of company-dedicated accounts for the purpose of collecting local electronic transfers on your behalf. All payment activity is electronically monitored so that we can quickly acknowledge payments received and forward funds to you in whichever currency you prefer.

Every day that we receive payments on your behalf, we will issue a report that lists all available details, including payment amount and any reference notes provided.

PacNet utilizes the following electronic payment systems, allowing us move large volumes of payments and offer you fast access to funds:

• EFT – Electronic Funds Transfer

  Eft is a blanket term used to describe the electronic transfer of money.

• ACH – Automated Clearing House

  In the US, bank to bank transfer payments are cleared through the ACH system, which processes huge volumes of debits and credits electronically.

• SEPA

  PacNet supports payments in the Single Euro Payments Area, a European zone within which a payment can cross borders and time zones with the same ease and efficiency as if both parties were in the same country. SEPA payments ensure that our clients can send and receive funds fast.

UK ELECTRONIC PAYMENTS

• Faster Payments

  For UK beneficiaries, the Faster Payments scheme allows an electronic payment to be processed almost immediately either via phone or online.

• BACS – Bankers Automated Clearing Services

  UK based direct debits and credits that take only three working days to clear.

• CHAPS – Clearing Automated Payment System

  Same day payment transfers for Sterling from one UK bank to another. The payment occurs in real time, which means there is no waiting period for the funds to be cleared.

Contact us today to discuss how your business can benefit from local electronic payments.