Payment Processing Tips
What Is an HSA?
A health savings account, or HSA, is a tax-advantaged account that allows account holders to save for qualified medical expenses, such as dental services or vision care, that are not…
What Is an FSA?
A flexible spending arrangement or flexible spending account (FSA) is a tax-advantaged account provided by an employer to an employee to allow for covering eligible healthcare expenses or dependent care…
What Is an FSA Card, and How To Use It?
If you have or are about to receive access to your Flexible Spending Account, you may need some basic information regarding FSA debit cards and how to use them. This…
What Is an Electronic Check?
Key Takeaways Electronic Checks (eChecks): Digital versions of traditional checks offering a secure, efficient, and cost-effective method for online payments. Benefits: eChecks are cheaper to issue, have enhanced security features,…
ACH SEC Codes
ACH SEC (Standard Entry Class) codes are an essential element of transaction processing, as they describe how a business or a customer authorizes the payment. Every ACH transaction, whether ACH…
What Is an EFT Payment?
EFT payments are becoming increasingly popular as more and more people conduct their financial affairs online. But what exactly is an EFT payment? And why should your business opt for…
ACH vs. EFT Payments: What’s the Difference?
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…
ACH Transfer Limit – Everything You Need to Know
ACH transfers are one of the most common ways money moves in the U.S. They’re used for payroll, bill payments, rent, subscriptions, loan payments, and B2B transactions. They’re reliable and…