Electronic Payments
Online transfers make it easy to transfer funds from one account to another or from one person to another through your bank's web site or a mobile app if your bank offers one. Direct debit and direct deposit, also known as ACH or Automatic Clearing House transfers, allows you to have money come into or out of your account either one time or automatically. With direct debit, you can have money withdrawn from your account to pay for things like bills. On the other hand, direct deposit allows you to have the money from your paycheck automatically deposited into your account, which takes away the hassle of depositing or cashing your check. You can also make payments with your mobile phone. Usually these online accounts are connected to your checking account and credit cards.