Everything Finance Everything Finance I spend a lot of time looking for money saving tips, finding ways to make more money, simplify my life with websites and software, and, last but not least, work on becoming a successful homeowner. Articles
Handy Budgeting Tools that Work
2007-11-09 12:23:00 Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn’t have to be extremely hard.Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you’ve paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you’re not missing out on any dues or any deductibles, for that matter.Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up ... More About: Tools , Work , Handy , Budgeting
Investing is boring. Well, It should be!
2007-11-07 13:35:00 Investing is boring. Well, It should be !Thats the message I got after reading Larry Swedroe's "Wise Investing Made Simple". I totally agree with this assessment.You are not supposed to have fun with a serious thing like investing for your future goals. Also, trying to beat the market is a really futile. All you need to do is have a well diversified portfolio of index funds and leave it.AuthorLarry Swedroe is Principal and Director of Research for Buckingham Asset Management Inc., a Registered Investment Advisor firm in St. Louis, Missouri. He is also Principal of BAM Advisor Services LLC, a service provider to CPA investment advisors across the country. Previously, Larry was Vice-Chairman of Prudential Home Mortgage. He has held positions at Citicorp as Senior Vice-President and Regional Treasurer, responsible for treasury, foreign exchange andinvestment banking activities, including risk management strategies. Larry holds an MBA in Finance and Investment from NYU, and a bachelorâ... More About: Investing , Boring
Checking, Savings, and Money Market Accounts...whats the difference ?
2007-11-05 13:56:00 Facts About Checking, Savings , and Money Market AccountsFirst of all, why do savings account usually have higher interest rates than checking accounts? I think most of us know that banks make money by using our cash deposits and lending it out to others via mortgages, personal loans, or credit cards. However, we also expect that if we do want to withdraw our money, it will be there. To achieve this, each country sets its own reserve requirements, essentially how much cash the bank must physically keep in a vault somewhere to meet expected withdrawal demands.As of 2006, the required reserve ratio in the United States was 10% on transaction deposits (checking accounts), and zero on time deposits (savings accounts). Due to fractional-reserve banking, having no reserve requirement allows the banks to lend out much more than their actual deposits.Added: A quick explanation… At a reserve ratio of 10%, let’s say I put in $100. That means the bank can lend out $90. If whoever borrows th... More About: Money Market , Difference
Carnival of Everything Finance: # 6 Edition
2007-11-02 12:47:00 Welcome to the November 2nd, 2007 Edition of Carnival of Everything Finance .We had over 80 really good articles submitted for this edition.Editor favorites have a "*" on them.Earning MoneyLiz presents The 13 Top Financial Mistakes Entrepreneurs Make posted at Nitro Marketing BlogCharles Bennington presents Sign of The Times... posted at Chuck Boobs- Thinking Outloud...Really OutloudDavid presents How to get a Business Loan posted at Gaizer.comJames D. Brausch presents You Don’t Need Any Money posted at jamesbrausch.com*Shadox presents If You Could Make an Extra $10K... posted at Money and SuchEverything Else FinanceAllen Taylor presents Doubling Stocks With A Small Bankroll posted at Investing World TodayTim Ramsey presents 5 Ways to Try and Reduce Your Debts and Outgoings posted at My Debt Relief BlogEric Stanley presents Three Rules for Financial Freedom posted at Personal Finance Blog ArticlesThomas Humes presents To Be A Millionaire posted at Wealth Building WorldTracy Coene...
Review: AIM Business Capital
2007-11-01 19:14:00 Why does my business need a Factoring company ?This really applies to medium to large sized businesses. Factoring is often used synonymously with accounts receivable financing. Factoring is a form of commercial finance whereby a business sells its accounts receivables (in the form of invoices) at a discount. Effectively, the business is no longer dependent on the conversion of accounts receivable to cash from the actual payment from their customers, which takes place on typical 30-to-90-day terms. Business es benefit from the acceleration of cash flow by obtaining cash from the factor equal to the face value of the sold accounts receivable, less a factor's fee.How does AIM Business Capital help you do Invoice Factoring ?You send your invoices to AIM Business Capital.We verify that the product on the invoice was received by your client.You receive accounts receivable cash flow from AIM.The invoices are forwarded to your customers who pay us directly.Othe... More About: Review , Sine
Need Health Insurance ? Get Free Quotes Online
2007-10-31 12:22:00 In this day and age, it is wise to safeguard your future. You never know what will happen to you even in the next few minutes. You might bump into a car and be disabled. Or discover that the reason why you have been feeling extremely thirsty and you have been urinating quite frequently is because of diabetes. Or that the weight loss you noticed in the past months is actually symptom of the early stages of cancer. No one wants to get sick but it may happen. It is best that when a disease or illness does strike, you are prepared for it. Companies that offer free health insurance quotes are out there to find and will get you on the road to choosing a good health insurance.Free health insurance quotes makes it easy to choose from plans and policies that will best suit your needs. Admit it, you may be earning money right now, money that is probably enough for your household needs plus a little extra but imagine if you get sick and suddenly you need to be confined in a hospital and the d... More About: Health , Insurance , Quotes , Health Insurance
Trying out Paid Per Post
2007-10-29 13:52:00 As I'm constantly looking for money making opportunities, I recently came across a concept of writing reviews of websites on your blog and getting paid for it. So I thought, why not give the "get paid to blog" idea a try.So by doing some quick research it became clear to me that "Pay Per Post " is the biggest out there and they have literally thousands of opportunities to choose from.As this blog "Everything Finance" is a Personal Finance resource where I try to make the finance jargon a little easier to understand, it is important that I, suddenly, don't start blogging about Cooking and Food Recipes :)So when I signed up with "Pay Per Post" and got approved, I started looking at the opportunities available to me and was happy to see that there were quite a few finance related topics that I could blog about.If this idea appeals to you, please check them out. They do have some rules and regulations and not all blogs get accepted, but if you have any questions about Pay Per Post,... More About: Paid
2 Steps to eliminating Credit Card Debt
2007-10-26 12:45:00 So you have decided to go for credit card debt elimination and are wondering on what the methods for credit card debt elimination are. As they say, let’s take the bull by its horns and lay it all flat on the ground. There are generally 2 recommendations that are most common for credit card debt elimination: controlling the expenditures and consolidating debt. Let’s check both of these credit card debt elimination recommendations and check the list of things that you can do for achieving credit card debt elimination using these recommendations:1. Control your urge to spendThe first thing to do for credit card debt elimination is to control your expenditures. Here we are talking about the payments you make using your credit card. Remember that the main reason being your getting into credit card debt is uncontrolled expenditures using your credit card. So if you are really serious about credit card debt elimination, this is one thing that will help in credit card debt eliminatio... More About: Credit Card Debt , Card , Credit , Debt , Credit Card
Do you want to be a Quiet Millionaire ?
2007-10-08 13:05:00 Its been a while since I read a good Personal Finance book, because I usually get most of my personal finance advice from the Internet. So when I was asked to review, The Quiet Millionaire , I was like do I really have to read about Personal Finance ?But I'm glad I did because this book goes way beyond savings accounts, IRAs, 401ks etc. It helps you understand the important financial goals that a normal family has to accomplish and also guides you in the right direction. Imagine my surprise, when, after reading the book, I realized that I did not know how to reduce taxes effectively as well as have any idea about how to start a successful business.Now, in this book, Brett Wilder stresses a lot on hiring a Fee -Only Financial Adviser, who will guide you in the right direction throughout your financial life, but I don't know if I'm ready for that...Yet.The Quite Millionaire, is written by Brett Wilder, who is a Certified Financial Planner® with over forty years of prof...
Save Money by Spending Wisely !
2007-10-03 13:57:00 Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.All it takes for the price to jump up by a lot is a little hiccup in the world wide market, note the price of gasoline as it relates to world affairs.There is a way that we can keep these price increases from impacting our personal finances so much and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.Set aside some space in your home and make a list of things that you use regularl... More About: Money , Save Money , Spending , Save
# 4 Edition: Carnival of Everything Finance
2007-09-30 21:57:00 Welcome to the October 1, 2007 edition of Carnival of Everything Finance .We had over 60 really good articles submitted for this edition.Editor favorites have "*" on them.Earning Money*paidtwice presents The Craigslist Empire is Back on Track posted at I've Paid For This Twice Already..., saying, "Simple advertisements can work better than complex ones"The Career Counselor presents ask the Career Counselor — Helping you Navigate the Career Landscape posted at ask the CareerCounselor.Real Estate & MortgageRodney Burge - Marketing Strategies presents More Single Women Buying Homes posted at Joyce Gioia - Herman - Future Workforce Trends, saying, "Leading Future Trends Expert Joyce Gioia-Herman writes as more women postpone marriage and family, we see them choosing to buy their own homes and real estate as individuals. Some say they are taking a stand for "financial independence" and others say they say they are investing for the future. Whatever the reason, there is a definite... More About: Edition
Saving for Kids College Education
2007-09-26 05:13:00 My daughter will be turning 2 in January. So for my wife and I, its time for us to start planning for her college. Should we go for a Coll ege 529 plan, an Education IRA or a Regular Investment account ? What should we do?So I started researching the various college savings options available. I decided to go to the Vanguard website because Vanguard is the most conservative mutual fund company I know of, because as far as saving for college is concerned I dont want to invest too aggressively. So here is what I found.529 College savings Plan529 plans enable you to invest for higher education free of federal and, sometimes, state income taxes. States or schools can sponsor a 529 plan. Most are open to residents of all states. Some plans allow you to invest between $200,000 and $300,000 on behalf of one child, so a 529 plan may be your best bet for fully funding a college education.AdvantageEnjoy investing flexibility, high contribution limits, and tax advantages to save for college and ... More About: Kids , Saving
When did you start taking better care of your Finances ?
2007-09-24 14:50:00 Was it a particular event in your life or a series of events that took place over a period of time ?I was recently asked this question and this got me thinking in the past, year 2002, to be precise.My answer was: After I got married! I realized that I'm responsible for someone else too. I had to have control over my finances for us to enjoy the basic necessities in life, like, buying a home and sending our kids to the best schools and colleges money can buy. In 2002, I was also introduced to the Suze Orman Show on CNBC, and her advice really helped.I posed this question in MBN forums that has the best Personal Fina nce bloggers of this age.Below are their responses!Debt Free Revolution says "26 Dec 2006 was when I started to get a clue. A couple days later I jumped in with both feet and haven't looked back. That was the day I first heard Dave Ramsey on the radio while driving through louisville, Ky."Punny Money says "2000-ish, when I was 17 and became the primary income earner f... More About: Finances , Care , Start , Taking
#3 Edition: Carnival of Everything Finance
2007-09-21 14:19:00 Welcome to the September 21, 2007 edition of Carnival of Everything Fina nce .We had over 60 really good articles submitted for this edition.Editor favorites have "*" on them.Earning Money*SavingWithMe presents 6 Small Businesses I Should Have Started In College posted at Saving With Me.iwehelp presents How to Make Money from Tumri? posted at iWeHelp.Robinson Go presents Optimize Your AdSense Income by Spreading Content to Multiple Pages posted at Robinson Go dot Com, saying, "Applying Finance Principles in Google AdSense. Increase your Income now!"Gustav S presents 7 Lessons to Increase your Productivity and Efficiency a la Personal Growth Style posted at success-is-in-you.com.InvestingAdamF presents How to Avoid Market Corrections and Crashes posted at The Investor's Journal, saying, "Techniques I developed that helped me avoid two market corrections in 2007. (check the image at the bottom of the article for a line graph of my performance vs the s&p 500)"*Jimmy Atkinson prese... More About: Blog Carnival , Edition
Features that "DECREASE" the resale value of your Home
2007-09-17 14:05:00 A few days back, I had written about features that "ADD RESALE" value to your home. Here is the flip side of that. According to bankrate.com, the 10 things listed below that "DECREASE" the value to your home.Based on my recent purchase of a new construction single-family home, I have added my comments for each of these items.A PoolPersonally, I'm not too fond of having a pool in my backyard, mainly because of the maintenance costs. I do like swimming, but fortunately our community has a pool. Also, when it comes time to sell your home, you have automatically limited your buyer market.No garage or a small garageUnless you're living in a condo, a retirement community, or historical or in-town neighborhood most buyers will look for at least a two-car garage. If you don't have a garage, it's a real negative. Personally, for a young family of mine having a 2 car garage is a must. I like having the extra storage space too.Garbled Floor PlanSince we went for a new contruction home, we ... More About: Features , Home , Feat
September 12, 2007 edition of Carnival of Everything Finance
2007-09-12 14:14:00 Welcome to the September 12, 2007 edition of Carnival of Everything Fina nce .We had over 60 really good articles submitted for this edition.My favorites have "*" on them.Earning Moneywilson ng presents Getting Rid of Customers as a Road to Profitability posted at Reflections of a BizDrivenLife, saying, "The conventional wisdom to profitability has been to attract and retain as many customers as you can. However, there ARE customers that are not worth keeping, and if they are eating up more resources than they are paying for, maybe its time to consider that it actually makes better business sense to let them go."*Tomaz Mencinger presents Why Money Is Only One Third Of Happiness posted at Financial Freedom Ideas.Marlon J. Broussard presents The 7 Immutable Laws of Building ?True Wealth? posted at MoneyBlog, saying, "I have come to realize that my core beliefs about economics, finance, capitalism, business, money, consumerism, and the like, are all contrary to how our world functions... More About: Edition
Save Money on Homeowner's Insurance
2007-09-10 03:26:00 This is my second post on the series on ways to save money on insurance. My first post was about ways in which you can save money on Auto insurance. This one deals with Home owner's insurance. I have recently bought a house so this one "really hits close to home", if you know what I mean :) GoodHouseKeeping.com had these easy ways.Shop around While automobile insurance rates are expected to go down this year, homeowner policies will likely go up (by about 4 percent). So it pays to hunt for the best price. The same Web sites that quote car insurance rates will also give you the cost of homeowners' coverage. Ask about discounts Many insurers cut rates by about 5 percent if the homeowner has burglar alarms, smoke detectors, or dead bolt locks. Some give breaks to older people and to families in which no one smokes. Don't over insure If you bought enough coverage to equal the price you paid for the house, you may have too much insurance. That's because your purchase price included... More About: Insurance , Money , Save Money , Save , Homeowner
How to save money on lighting in your home!
2007-09-06 14:51:00 Here is the next post in my series of saving money on your energy bill. Please read the first post of this series where I talk about ways to save on energy by using your appliances properly.Next, in this series, are a few cost effective ways to cut down your energy by using the lighting in your home effectively. 1. Open blinds and shades. 2. Fluorescent bulbs use 1/4 the energy of traditional incandescent bulbs and last six times longer. * Check out this Fast Company article for more information about the coming fluorescent bulb revolution. 3. Disconnect or remove lamps in multiple lamp fixtures. 4. Putting a lamp in the corner gives off more light than the center of a room. 5. Place security lights on a timer. 6. Use "task lighting." * Direct light to the areas in a room where it's needed rather than keeping the entire room bright. 7. Check the "lumens" setting when buying a new bulb. * The higher the lumens, the brighter the bulb. 8. Install dimme... More About: Money , Save Money , Home , Lighting , Save
September 4, 2007 edition of Carnival Of Everything Finance
2007-09-04 13:44:00 Welcome to the Sept ember 4, 2007 edition of Carnival Of Everything Finance !This is the very First Edition of the Carnival of Everything Finance. I received over over 65 submissions. WOW! So now this carnival will have 2 editions per month (as opposed to one)Please submit your articles for the upcoming editions of this carnivalThere were some excellent articles submitted and I had a tough time deciding which to publish. My favorites that have a "*" next to them. I hope you enjoy this carnival edition as much as I did.ShoppingKevin Fleming presents Satellite TV Guru'Satellite TV Dealers posted at Satellite TV Guru, saying, "How to save the most money when signing up for satellite television service"FrugalityLeon Gettler presents Brains and money - 8 tips to avoid investment disaster posted at Sox First, saying, "Why do we keep making bad investments? Because of the way our brains are wired up. Here are eight tips to avoid making an investment disaster."*ISPF presents Grad Money...
Save Money on Auto Insurance
2007-08-29 02:42:00 I'm doing a 2 part series on how you can save money on your insurance. In this part I'm going to talk about ways in which you can save some money on your auto insurance. Do you wish you could squeeze extra savings from your budget--without making any big sacrifices? Here's an idea you may not have thought of: Slash the premiums you pay to insure your home. Rates have risen so sharply in recent years that it may seem impossible to cut these back. But there are many ways. YOUR AUTO INSURANCEConsider canceling collision insurance (for damage) and comprehensive insurance (for theft) if your car is older. Your insurer will never pay more than the vehicle's current resale value, which may be low for a car that's been around. Ask your agent what you're paying for collision and "comp" and compare it with what your car is worth right now. You can find out by checking the Kelley Blue Book site (kbb.com). Cancel the coverage if it's costing you more than the insurer woul... More About: Insurance , Money , Save Money , Auto Insurance , Auto
Introducing...Carnival of Everything Finance !!
2007-08-24 18:49:00 What is a Carnival ?Blog carnivals are blog-hosted columns that collect expert-written articles on a particular topic. Sort of like a little news aggregators hosted on a blog. It?s a good way to forge links with other blogs and get stuff out there.Carnival of Everything Fina nce As the name suggests, this carnival will host articles and blog posts that pertain to Finance.It can fall under, but not limited to, Investing, Frugality or Real Estate. In case your article doesn't fall under any os these categories, I do have something called Everything Else Finance.I'll be publishing an edition of the Carnival of Everything Finance every month. The very first edition will be published on September 3rd, 2007.Here is some detailed info about this carnival:Description ¤ You will find useful information for topics including, but not limited to, investing, save money, shopping, being frugal, real estate and mortgage. Keywords ¤ investing, save, money, shopping, frugal, real estate, mo...
Features that add "Resale Value" to a Home
2007-08-23 23:40:00 According to bankrate.com, the 10 features listed below add a lot of value to your home.Based on my recent purchase of a new construction single-family home, I have added my comments for each of these features.1. An updated kitchenWhen we visited the model home, we really liked the granite counter tops, new appliances (that got me excited too!), lot of cabinets for storage, and an island in the center of the kitchen. The island is can be used for more countertop space as well as a small eat-in area. For my wife, this was the biggest selling point of the home.2. Modern bathroomsThis is an important one. The master bathroom must have double vanities. That means, you and your partner each have their own space with a sink to get ready. Modern bathrooms also have a separate jetted bath tub and shower area. Modern light fixtures are a plus.3. A well-appointed master suiteFor me, the master suite was the selling point. A master suite must, at least, have enough space for a king size bed, ... More About: Features , Home , Feat
Review: DealLocker.com
2007-08-23 23:40:00 If you are like me , trying to save a buck or two here and there, you are obviously on the lookout for coupons that you could use for your usual spending. I have tried many sites like coolsavings.com etc. but I don't find a lot of good stuff there.Recently I came across this cool website DealLock er.com that has a lot coupons that I could use.Last month, I bought a new construction single family home. To install blinds on all the windows in the house, the builder was charging me about $3000, but I was told that it can done in half that price. So I went to deallocker.com and clicked on Home coupons and there I found blinds.com coupons .The best part about this website is that if I come across a good deal/coupon I can go into the website, go to the relevant category and and add the coupon so that others can take advantage of it too."Deal Locker is dedicated to friends helping friends get deals!" This is the deallocker.com motto!!They also have a 1 Click Bookmarklet that you can drag ... More About: Review , Allo
High Energy Bills ?? Try out these simple ideas !
2007-08-23 23:39:00 The most thorough energy efficiency resource on the Internet is the home page for the U.S. Department of Energy and its affiliated Energy Star program. These pages provide a great deal of general information about minor home improvement projects that can shave off a significant portion of your monthly energy expenditures.In this post, I'm focussing on saving energy by using our appliances.Air Conditioning Use fans when possible instead of AC. A few carefully placed fans can create a cross-breeze that will cool down a room quickly. Close your curtains and shades at night; open them during the day. Make sure the "fresh air" vent on the air conditioner is closed so you are not cooling outside air. Clean leaves and debris from the unit and clean the filter often. Read HowStuffWorks' Guide to Maintaining Your Air Conditioner. Dishwasher Load dishes in their proper locations to ensure maximum cleaning efficiency. Martha Stewart has written a helpful guide to "Dishwasher Strategy." Set... More About: Ideas , Simple , High
Make Money, Generate Traffic and other Useful Blog Tools
2007-08-23 23:37:00 Make Money Blog gingSubvert and Profitgoogle_ad_client = "pub-0629633527379959";google_ad_output = "textlink";google_ad_format = "ref_text";google_cpa_choice = "CAAQidTQgAIaCEapPfRcsfp6KN2uuIEBMAA";goo gle_ad_channel = "1911567627";Text Link AdsKonteraGet paid to read emailsBidvertizerSell Ads, Make money. Buy Ads, Get Traffic with BannerBoxesGenerate Traffic for your blogSuExchangeCarnival of Everything FinanceUseful Tools for BloggingSEO Website GraderFeed BurnerGoogle AnalyticsGoogle Webmaster ToolsFree Button GeneratorLocalHostr More About: Make Money
Review: DealLocker.com
2007-08-17 22:26:00 If you are like me , trying to save a buck or two here and there, you are obviously on the lookout for coupons that you could use for your usual spending. I have tried many sites like coolsavings.com etc. but I don't find a lot of good stuff there.Recently I came across this cool website DealLock er.com that has a lot coupons that I could use.Last month, I bought a new construction single family home. To install blinds on all the windows in the house, the builder was charging me about $3000, but I was told that it can done in half that price. So I went to deallocker.com and clicked on Home coupons and there I found blinds.com coupons .The best part about this website is that if I come across a good deal/coupon I can go into the website, go to the relevant category and and add the coupon so that others can take advantage of it too."Deal Locker is dedicated to friends helping friends get deals!" This is the deallocker.com motto!!They also have a 1 Click Bookmarklet that you can drag ... More About: Review , Allo
Features that add "Resale Value" to a Home
2007-08-15 18:50:00 According to bankrate.com, the 10 features listed below add a lot of value to your home.Based on my recent purchase of a new construction single-family home, I have added my comments for each of these features.1. An updated kitchenWhen we visited the model home, we really liked the granite counter tops, new appliances (that got me excited too!), lot of cabinets for storage, and an island in the center of the kitchen. The island is can be used for more countertop space as well as a small eat-in area. For my wife, this was the biggest selling point of the home.2. Modern bathroomsThis is an important one. The master bathroom must have double vanities. That means, you and your partner each have their own space with a sink to get ready. Modern bathrooms also have a separate jetted bath tub and shower area. Modern light fixtures are a plus.3. A well-appointed master suiteFor me, the master suite was the selling point. A master suite must, at least, have enough space for a king size bed, ... More About: Features , Home , Feat
Make money from your Website or Blog
2007-08-15 03:43:00 Get Paid to Digg and Stumble !-- google_ad_client = "pub-0629633527379959"; google_ad_width = 120; google_ad_height = 60; google_ad_format = "120x60_as_rimg"; google_cpa_choice = "CAEQgdOWhAIaCPaq1ipKIOX9KIHD93M"; //-->r />* Don't forget to subscribe to my blog via RSS Feed More About: Website , Money , Make Money , Blog , Make
What is ACH ?
2007-08-13 14:03:00 Every time you pay a bill online, you transfer money into your online savings account or your employer direct deposits your paycheck, do you know what kind of a transaction is really taking place in the back end ?Its called an ACH transaction.Let me explain.ACH stands for Automated Clearing House.The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the NACHA OPERATING RULES which provide for the interbank clearing of electronic payments for participating depository financial institutions. The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.ACH payments include: * Direct Deposit of payroll, Social Security and other government benefits, and tax refunds; * Direct Payment of consumer bills such as mortgages, loans, utility bills and insurance premiums; * Business-to-business payments; * E-checks; ...
What is ACH ?
More articles from this author:2007-08-13 13:58:00 Every time you pay a bill online, you transfer money into your online savings account or your employer direct deposits your paycheck, do you know what kind of a transaction is really taking place in the back end ?Its called an ACH transaction.Let me explain.ACH stands for Automated Clearing House.The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the NACHA OPERATING RULES which provide for the interbank clearing of electronic payments for participating depository financial institutions. The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.ACH payments include: * Direct Deposit of payroll, Social Security and other government benefits, and tax refunds; * Direct Payment of consumer bills such as mortgages, loans, utility bills and insurance premiums; * Business-to-business payments; * E-checks; ... 1, 2, 3, 4, 5, 6, 7 |
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