Electronic Fund Transfer Act (EFTA) Social Security Verification 
Stax
MARCH 27, 2025
They check for fraud and fund availability (Verification) before depositing the money into your account (Completion). For example, ACH transfers use the Automated Clearing House network, while debit card transactions rely on either a card network (Visa or Mastercard) or a payment processor (Paypal, Stripe, etc.).
EBizCharge
JUNE 3, 2024
Here’s a brief overview of the prominent types: Automated Clearing House (ACH): ACH transfers are a reliable and often-used form of EFT. ACH is designed to process batches of transactions, such as direct deposits of salaries or social security benefits and direct payments for bills.
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