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Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACH network. Direct deposit over the ACH network eliminated that friction and got them earlier access to those funds.
Last week, NACHA issued an ACHoperations bulletin announcing the delay of the rollout of a third Same Day ACH (SDA) processing window by six months, to March 19, 2021. and one of two operators of the ACH network in the U.S., And finally, that the banks and the card networks are the big losers.
Understanding the differences between EDI payments, ACH, and EFT is crucial when considering the electronic transfer of funds. EDI vs ACH EDI payments refer to the process and standards for exchanging business documents electronically, including the transfer of funds. EDI is an EFT method that focuses on inter-company communication.
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