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Simple, Safe, Smart Ways to Manage
Your Money
Getting paid. Paying bills. Buying things. Writing checks. For almost 40
years, electronic payments have been simplifying these activities. Some
of the most common types of electronic payments are processed through
the Automated Clearing House (ACH) network, including Direct Deposit,
Direct Payment, and check conversion. There are three types of
electronic payments. Understanding the Basics
Direct Deposit
When Direct Deposit is offered by employers, more than three-quarters of
employees select it as their preferred way to get paid, due to its
safety, speed and convenience.
Should you be using Direct Deposit? »
Direct Payment
Pre-authorized, automatic bill payments are used by more than half of
U.S. households to pay their mortgage, loans, insurance premiums, and
other monthly bills, while saving time and avoiding late fees.
Is Direct Payment a good option for you? »
Check Conversion
Have you ever mailed a check to pay a bill or written a check at the
grocery store and later discovered it on your monthly statement as an
electronic debit? That check was converted into an electronic payment
and processed through the ACH network – a procedure that businesses have
adopted at a growing rate and you will see more of in the future.
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