Stax

JUNE 27, 2024

But cash and checks are rapidly declining as preferred modes of payment. If you’ve been accepting and using electronic payments in your business, you’ve probably come across two of the most popular terms in the digital payments scene— automated clearing house (ACH) and wire transfer. No fees on the receiving side.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

Stax

APRIL 23, 2024

Most small business owners and employers are turning to ACH payments instead paper check payments because of the ease and instant access the ACH network provides. ACH transfers don’t come with high fees and transactions and they’re easily edited if an employer wants to adjust payroll, extend bonuses, or reimburse an employee.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

Payment Savvy

NOVEMBER 10, 2022

There’s the ODFI, which stands for Originating Depository Financial Institution, and there’s the RDFI, which stands for Receiving Depository Financial Institution. To put it simply, the ODFIs are the financial institutions that send the transaction, while RDFIs are the institutions that receive it.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52

Nanonets

MARCH 21, 2023

All ACH transfers are processed through the centralized ACH network operated by NACHA, ensuring secure and accurate transfer of funds to the intended bank account. ACH payments are faster and more dependable than traditional paper checks, thereby streamlining account payable processes.

ACH 52

ACH RDFI ACH Network ODFI 52