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As a business owner, you might wonder if you can use your business debit card for personal expenses since the money is technically yours. Also, for small business owners, it’s common to confuse personal and business expenses. When is it okay for your business to handle costs like coffee, and when should you use your … Continued
A business bank statement is a record of the transactions you conducted during a given time frame. It usually includes details about your business savings or checking account and covers a month. The statement shows your deposits and withdrawals, as well as any transactions made with the debit card linked to the business account. Let’s … Continued
Within the Automated Clearing House (ACH) Network, there are two different categories of financial institutions: ODFIs and RDFIs. The majority of significant functioning banks are authorized by ODFI and RDFI to transmit and receive ACH money transfers. An ODFI or RDFI may also permit third-party payment processors (TPPPs) to accept ACH payments as a legitimate … Continued
Are you also eagerly looking for a correspondent bank? If yes, you are in the right place because you will find all the information here. To handle financial activities like international wire transfers, correspondent banking usually entails domestic banks collaborating with a partner overseas bank. Let’s begin and know everything in detail about correspondent banks. … Continued
Let’s say you are an entrepreneur and you need to make a payment to a supplier or business partner who is operating outside the country. This can be problematic since you have to deal with different currencies, regulations, and banks. This is the time when intermediary banks intervene. They simplify the transfer process by serving … Continued
Never miss any payment or leave your company without an opportunity to keep rolling.
Never miss any payment or leave your company without an opportunity to keep rolling.