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What Is an EFT Payment?

Payment Savvy

Setting up direct deposit for your paycheck. Today, many different types of EFT services are available, ranging from direct deposit to online banking. Direct Deposit. For businesses, your direct deposit service provider will typically set up ACH transfers to pay your employees. Wire Transfer.

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How to Manage Recurring ACH Payments in QuickBooks

Nanonets

ACH payments will generally fall under one of two primary categories: Direct payment: This type of ACH payment describes how a buyer pays for goods or services. Examples include direct ACH payments for utility bills, to a friend as an alternative to wire transfers, and to your credit card company to pay your monthly statement.

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