What is a wire transfer vs ach? What exactly is a check?
We will explore typical banking payment methods with most corporate checking accounts. This video reviews the pros and cons of the following banking payment methods:
0:00 Introduction
0:28 Basics
1:12 What is a Check?
3:53 ACH Payments Explained
6:23 Wire Payments Explained
8:17 What information do you need to process a payment?
This video describes the 3 primary banking payment methods to transfer money. This is applicable to individuals, small business and corporations. #bankingpaymentmethods #check #ach #wire
Banking Payment Methods
1) Check - a negotiable instrument that directs a bank to move money between bank accounts
2) ACH (automated clearing house) payments - transfers money electronically from one bank account to another bank account also known as a EFT (electronic funds transfer)
3) Wire - same day transfer of money that's from one bank account to another bank account
Also, check out:
FRAUDULENT CHECKS - this is how YOU can identify them!
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Limited Liability Companies for Beginners - use this as a starting point!
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(PB Long Video 6)
