If you’re usually stuck with uncashed checks that you have to escheat to the state, then it may be time to switch over to this.

Using ACH payments, which can be used for monthly debits for routine payment to vendors, is the best way to reduce your unclaimed “checks.”

Why? Uncashed checks are usually the result of a vendor not receiving the payment in the first place.  ACH payments greatly reduce this because vendor payments will always get to the recipients. It’s impossible to do an ACH payment without the recipient’s bank routing and account numbers.

With states aggressively attempting to collect funds from all sources including unclaimed property, now may be the time to switch to ACH.

Tags: A/P, ACH payments, Uncashed Checks, Unclaimed Property