Payments

Domestic Payment Rails, National Switches and Clearing Systems

ACH, wires, real-time payments, FedNow, UPI, Raast, PIX, 1Link, national switches, clearing and settlement, account-to-account transfers inside one country

162 questions · 29 topics

How can payments be processed between banks in an app, similar to Visa, using ACH or another network?Jan 9, 2016Payment Infrastructure How long does a wire transfer through Wells Fargo usually take?Jan 9, 2016Wire Transfers Why does it take several business days to move money electronically between two U.S. banks?Jan 5, 2016Payment Infrastructure Why might a company demand a bank wire instead of an ACH transfer for large payments?Jan 2, 2016Wire Transfers How likely is it that a newer, smarter version of ACH will be created to update or replace the current 1960s-era ACH system?Dec 2, 2015ACH Ben Milne: How does Dwolla FiSync handle settlement of payments between banks?Nov 5, 2015Payment Infrastructure What does a typical ACH payment acceptance flow look like end to end?Aug 12, 2015ACH Is knowing someone’s bank account number alone enough to withdraw money from a US bank account?Aug 11, 2015Account-to-Account Payments How many Asian countries use real-time gross settlement systems similar to India’s Aadhaar-enabled payment system?Aug 6, 2015Payment Infrastructure Why do electronic payments get authorized in seconds but take 2–3 days for clearing and settlement?Aug 6, 2015Payment Clearing Why do US banks typically charge around $30 for sending a wire and $12 for receiving one between businesses?Aug 6, 2015Wire Transfers What exactly are ACH fees and who charges them?Aug 5, 2015ACH What is the best option for a website that needs to receive low-volume but high-value ACH payments?Jul 5, 2015ACH In a world of smart tech, Faster Payments (UK), ACH, and EPN (US), why can’t bank accounts show truly real-time balances based on all posted transactions?Jul 5, 2015Payment Infrastructure What does a domestic wire transfer actually cost a bank to execute behind the scenes?Jun 12, 2015Payment Infrastructure Which Pakistani banks provide free interbank fund transfers through online banking?Jun 7, 2015Account-to-Account Payments What are the biggest threats facing the ACH (automated clearing house) system, and why?Jun 5, 2015ACH What makes an ACH account number unique in the United States?Jun 5, 2015ACH Does Stripe support ACH bank payments in addition to card transactions?Jun 3, 2015ACH How are payments drawn from a checking account authorized and approved?Jun 3, 2015Account-to-Account Payments How are very large sums held and moved within the United States?May 12, 2015Payment Infrastructure If a wire transfer sent to my account is recalled by the sender, can the funds be pulled back without my consent?Mar 12, 2015Wire Transfers What are the differences between ACH, SEPA, and RTGS payment systems?Mar 11, 2015Payment Infrastructure Are paperless checks as insecure as they appear?Mar 8, 2015ACH How does ACH work in practice, how are payments processed, and how does ACH differ from RTGS and other local payment switches?Feb 11, 2015ACH How are large-value bank transactions executed in practice?Feb 8, 2015Wire Transfers The UK Faster Payments website says around 400 payment service providers access the system indirectly via sponsor banks—who are these providers and what level of access/service do they get?Feb 8, 2015Faster Payments (UK)What exactly is involved in Check 21 processing services?Feb 7, 2015Checks and Cheques Online Banking: What happens if you accidentally deposit money into the wrong account?Feb 7, 2015Account-to-Account Payments Can funds sent to the wrong account via NEFT/RTGS be reversed?Feb 7, 2015Account-to-Account Payments What is the minimum ACH debit settlement time needed to reduce fraud risk?Feb 6, 2015ACH What is the fastest and cheapest way to send money to someone in another U.S. state, excluding MoneyGram or Western Union—perhaps via a bank?Feb 2, 2015Account-to-Account Payments Why don’t developed countries like the U.S., U.K., and Australia have instant interbank transfers?Feb 1, 2015Instant Payments What is a batch payment?Jan 11, 2015Batch Payments In simple terms, what is a clearinghouse?Jan 10, 2015Clearing Houses Is there an efficient way to automate making hundreds of payments to online retail customers besides PayPal?Jan 9, 2015Batch Payments Is it risky to share my account and routing numbers with an employer?Jan 1, 2015Direct Deposit What is your view on Dwolla as a payments platform?Nov 9, 2014Payment Infrastructure Do the British Virgin Islands use an ACH system?Nov 6, 2014ACH Which companies provide ACH payment services?Nov 3, 2014ACH In the U.S., which common payment, wire, banking, card, or check problems should technology realistically eliminate within a year?Nov 3, 2014Payment Infrastructure Since ACH and card payments can be reversed or charged back, is there any electronic payment method in the U.S. that is truly irreversible?Oct 9, 2014Payment Finality How does a company become an ACH processor that submits ACH transactions on behalf of merchants?Sep 11, 2014ACH Is there a SaaS platform that handles ACH payments?Sep 7, 2014ACH If an ACH network offers multiple settlement cycles per day, are participants required to submit files for each cycle?Sep 5, 2014ACH Does transferring money between accounts at different banks normally involve paying a fee?Jul 11, 2014Account-to-Account Payments Why are U.S. banks slow to adopt features long used abroad, such as chip-and-PIN cards, pay-at-table systems, and easy free transfers between customers?Jul 9, 2014Payment Infrastructure What is the most efficient method for sending money to clients directly from your website?Jun 8, 2014Payment Infrastructure How are very large sums of money transferred between parties or institutions?Jun 1, 2014Payment Infrastructure What systems do companies use to automatically deduct monthly loan payments from customer bank accounts?May 7, 2014ACH