ACH vs EFT: What’s the Difference?

by Cheqly team | | ACH , EFT

Individuals and businesses in today’s fast-paced digital economy should understand the distinctions between ACH and EFT. While each is an actual electronic initiation of cash movement, how they operate and what they are used for distinguishes them. ACH is a specialized form of Electronic Funds Transfer whereby funds are moved in batches with an approximate … Continued

What is an ACH Withdrawal & How Does It Function?

by Cheqly team | | ACH Withdrawal

Sending and receiving money is now easier than it has ever been! Pay systems are flexible and allow both the business and the customers to decide which payment formats suit them best since there are so many options available. ACH withdrawal is where the party so charged withdraws the money from the paying party’s account … Continued

ACH Hold: What Does It Mean

by Cheqly team | | ACH Hold

If you ever come across the words ‘ACH hold’ while looking at your bank account, it can be useful to know that this means the money is on hold, awaiting the completion of an electronic transaction. One common type of ETF (electronic fund transfer) is ACH, short for Automated Clearing House. Both people and organizations … Continued

Virtual Banking: Navigating Your Digital Financial Options

by Cheqly team | | Virtual Banking

The time when you had to wait in line for hours at the banking hall just to send and receive cash is long gone. In the current digital era, you can access your bank account anywhere, anytime. Virtual banks can help with this. Captive, branchless, and anytime-anywhere virtual banks offer services similar to conventional banks. … Continued

Business Debit Cards: Everything You Need to Know

by Cheqly team | | Business Debit Cards

Business debit cards are increasingly being used and are changing the way most businesses transact. These cards are a fast and secure replacement for traditional methods of expense control because they are connected in real time to a business’s bank account. So, in this article, we’ll look at what you need to know about business … Continued

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