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ACI Worldwide Survey Shows Nearly 40% of Taxpayers Will Use Refunds for Debt Relief

Fintech Finance

A new income tax survey from ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, developed in partnership with YouGov , shows that nearly 40% of taxpayers would use their tax refund to pay debt (e.g., credit cards, loans, etc.), credit cards, loans, etc.)

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The Final CFPB Prepaid Card Rule Is Here (Expect Controversy)

PYMNTS

They cover traditional prepaid cards (including general purpose reloadable cards) mobile wallets, person-to-person payment products, and other electronic prepaid accounts that can store funds. “Our new rule closes loopholes and protects prepaid consumers when they swipe their card, shop online, or scan their smartphone.

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ACH Payment vs Wire Transfer Similarities and Differences: How to Choose Between ACH vs Wire

Stax

ACH transfer is used for various purposes, such as payroll, paycheck direct deposits, recurring and one-time bill payments, Business-to-business (B2B) payments, direct deposit of tax refunds or government payments, Buy now pay later (BPNL), and person-to-person (P2P) payments such as PayPal , Cash App, Zelle, and Venmo.

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What is an ACH Deposit and How Does It Work?

Stax

Learn More Understanding ACH Deposits Small business owners often opt for ACH payments to handle billing and tax refunds in order to streamline processes for transferring money, paying bills, and automatically organizing finances. Not to mention, ACH transfers come in the form of debit and credit as well.

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How to Manage Recurring ACH Payments in QuickBooks

Nanonets

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. ACH credit transactions can include your payroll, government benefit payments, tax refunds, or invoiced payments for contractors.

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Understanding Electronic Funds Transfer (EFT)?

Nanonets

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings.

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Understanding Electronic Funds Transfer (EFT)?

Nanonets

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings.