What Is an Electronic Check?

atm card

If you’re familiar with traditional check processing, where banks manually process physical paper checks and deposit funds into the appropriate bank accounts, then you probably get the idea of electronic checks. Their goal is the same, although the method of processing them turns from manual to digital, bringing a range of benefits along. Beyond reducing…

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ACH SEC Codes

person using laptop

When it comes to the financial world, there are a lot of terminologies that someone who isn’t a part of it might have difficulties with understanding. That’s because, while financial institutions are a big part of our lives, we usually don’t look deeper than confirming whether the payment was made or received or not –…

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What Is an EFT Payment?

Credit Card

EFT payments are becoming increasingly popular as more and more people conduct their financial affairs online. But what exactly is an EFT payment? In this article, we will answer the question of what an EFT payment is, and we’ll also discuss the different types of ETF payments, the benefits of using EFT payments, and the…

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ACH vs. EFT Payments: What’s the Difference?

Online banking

Barely a couple of decades ago, there were just a few options available for transferring money from one account to another, but the rise of internet banking has given way to a bunch of different services with different names, processes, fees, and waiting times. The banking world has, thankfully, moved on quite a bit from…

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ACH Transfer Limit – Everything You Need To Know

Money transfer

Most people sign up for a bank account assuming that it will allow or enable them to perform most, if not all, legal transactions. If anything, it’s hard to think of how you may end up needing to use the account, let’s say, five years from now. But for the most part, we all need…

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ACH vs. Wire Transfer

Consumers and companies have a vast choice of options to transfer money these days through traditional or more modern internet-based banking. Two of the more common methods are known as ACH or wire transfers. But what exactly is the difference, and how do they work? This is actually a question we hear pretty much daily.…

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