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Originally Posted by wyett3
Yes, other terms here are EFT (Electronic Funds Transfer) and bank wires. Bank wires are instant money transfers (costing $15+ to initiate) and ACH transfers are "virtual checks" (free or small charge to initiate) both are EFT's. The Check 21 (?) system allows banks to process the physical checks you write electronically too.
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Yeah, I remember reading about how clearing houses work and all that. Thank you all for being so informative and helping me out at every turn.