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ACH vs. EFT Payments: What’s the Difference?

Payment Savvy

An ACH payment is a digitally processed transfer between various banks, which at some stage will go through a dedicated center set up to process this specific type of payment. ACH stands for Automated Clearing House Network. EFT stands for Electronic Fund Transfer, while ACH stands for Automated Clearing House.

ACH
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What Is an Electronic Check?

Payment Savvy

How Does an Electronic Check Work? An electronic check is part of a large electronic banking system and a subset of transactions referred to as electronic fund transfers (EFTs). Bank account details. Bank routing number. Payment confirmation. Years in business. Payment amount.