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 does data actually move behind the scenes when transferring funds within the same bank or to another bank?May 6, 2014Account-to-Account Payments What electronic payment options are available for businesses in Canada?May 6, 2014Local Payment Methods Once I share my checking account and routing numbers for ACH, what stops someone from pulling funds without my consent?Apr 9, 2014ACH Where can I access the official NACHA (ACH) specifications?Apr 6, 2014ACH Can companies place a memo-post on an account—via ACH or other means—before the actual funds arrive?Apr 6, 2014ACH Can a non-bank institution move money from one person’s bank account to another person’s bank account?Apr 6, 2014Account-to-Account Payments Given today’s instant digital world, why can’t online bank payments be credited to the recipient immediately, and why do legacy rules still apply?Mar 12, 2014Payment Infrastructure Are routing numbers and ABA numbers identical for both domestic and international banking?Mar 10, 2014Routing Numbers How can I incorporate EFT functionality into my website?Feb 9, 2014Payment Infrastructure Is there a U.S. bank or credit union that lets customers set automatic ACH limits for specific counterparties?Feb 6, 2014ACH Which faster payment infrastructure did U.K. banks adopt to enable instant transactions?Jan 7, 2014Faster Payments (UK)Can I request my bank to reverse an ACH debit from a merchant who failed to provide the service?Jan 4, 2014ACH Why don’t most countries offer real-time bank transfer processing?Jan 4, 2014Real-Time Payments Why aren’t real-time bank-transfer payments available within most countries?Jan 4, 2014Real-Time Payments If banks can verify routing instantly, why is a 7-day hold required for checks over $5k?Jan 2, 2014Checks and Cheques How can Dwolla persuade banks when banks earn more revenue from debit card transactions?Jan 2, 2014Payment Infrastructure How could Dwolla persuade banks when debit card transactions are more profitable for them?Jan 2, 2014Payment Infrastructure How can I move money instantly from one U.S. bank to another U.S. bank?Dec 12, 2013Instant Payments Is it possible to initiate an ACH pull from a PayPal balance the same way you can pull funds from a bank account?Dec 6, 2013ACH How does an app enable transfers between two different bank accounts?Aug 11, 2013Account-to-Account Payments If online banking is widespread, why do checks still take a day to clear?Aug 10, 2013Checks and Cheques Which company or API can assist with enabling ACH deposits into mutual funds?Jul 6, 2013ACH Which company or API can facilitate ACH deposits into mutual funds?Jul 6, 2013ACH What happens if I mistype a recipient’s bank account number when transferring money online?Jun 10, 2013Account-to-Account Payments Economic Policy: Why might a country choose its own domestic card network instead of relying on Maestro/Mastercard or Visa?Jun 6, 2013Domestic Payment Schemes Why would a country build its own card payment provider instead of using Visa/Mastercard/Maestro?Jun 6, 2013Domestic Payment Schemes Which banks worldwide support Online Banking ePayments (OBeP)?May 9, 2013Payment Infrastructure Which banks globally support Online Banking ePayments or direct account debit?May 9, 2013Account-to-Account Payments What is an efficient method for sending or receiving over $100,000 online in a single transfer?Mar 11, 2013Wire Transfers Would banks invest in new payment rails if it allowed them to dominate digital payments like they dominate card networks?Mar 1, 2013Payment Infrastructure How can commercial companies handle Check21 transactions on their own?Jan 3, 2013Checks and Cheques How can for-profit companies directly process Check21 transactions?Jan 3, 2013Payment Infrastructure Is it standard to incur fees when transferring money from personal to business accounts within the same bank?Jan 1, 2013Account-to-Account Payments How can I accept online payments directly from bank accounts in a developing country without major card networks?Nov 11, 2012Payment Infrastructure When PayPal verifies a bank account using ACH deposits and withdrawals, can they also view the account’s balance?Nov 3, 2012ACH Why isn’t a Dwolla-style bank transfer system available in the UK?Oct 11, 2012Payment Infrastructure How much time does Wells Fargo require to move funds between two different accounts?Sep 12, 2012Account-to-Account Payments Why are bank transfers and credit card payments not processed during weekends?Sep 4, 2012Payment Clearing ACH: Is it possible to withdraw funds from a bank account using only the routing and account number, provided you have the customer’s authorization?Aug 11, 2012ACH Where can I locate the bank-by-mail addresses for major U.S. banks without having to call each institution?Aug 10, 2012Payment Infrastructure What is the central-bank-assigned Bank Code called in India, and where can I locate it?Aug 8, 2012Payment Routing What details must you provide to send an ACH money transfer?Jul 9, 2012ACH Can BACS payments between UK banks be reversed after showing in the recipient’s account?Jul 9, 2012Bacs What beneficiary details are required to send money using the ACH system?Jul 9, 2012ACH Can a BACS payment between UK bank accounts be reversed after it appears in the recipient’s account?Jul 9, 2012Bacs Why is it not possible to electronically transfer funds between banks in the U.S.?Mar 3, 2012Payment Infrastructure Why isn’t it possible to instantly transfer funds online between US bank accounts?Mar 3, 2012Account-to-Account Payments What’s the best way to send mass payouts?Feb 12, 2012Batch Payments What is the most efficient way to send mass or bulk payments?Feb 12, 2012Batch Payments What is NetPayment, and how does it differ from ACH?Feb 9, 2012Payment Infrastructure