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  2. What Is Direct Deposit? How It Works and How You Can ... - AOL

    www.aol.com/finance/direct-deposit-works-set...

    Direct deposit is an electronic transfer of funds from a payer to a payee’s account. You can set up direct deposits with the following types of accounts: Traditional deposit bank accounts, such ...

  3. How to switch to a new bank or credit union - AOL

    www.aol.com/finance/switch-bank-credit-union...

    Here’s a guide on how to switch banks, broken down into six steps, for a smooth transition. 1. Find a new bank or credit union. Starting your journey to switch banks begins with finding a new ...

  4. Electronic funds transfer - Wikipedia

    en.wikipedia.org/wiki/Electronic_funds_transfer

    Portal. v. t. e. Electronic funds transfer ( EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer -based systems, without the direct intervention of bank staff. According to the United States Electronic Fund Transfer Act of 1978 it ...

  5. What To Look For When Switching From a Traditional Bank to an ...

    www.aol.com/finance/look-switching-traditional...

    Traditional banks and credit unions are generally FDIC-insured up to a certain amount. This insurance means that your money across all checking and savings accounts at that bank is protected ...

  6. Direct debit - Wikipedia

    en.wikipedia.org/wiki/Direct_debit

    A direct debit or direct withdrawal is a financial transaction in which one organisation withdraws funds from a payer's bank account. Formally, the organisation that calls for the funds ("the payee") instructs their bank to collect (i.e., debit) an amount directly from another's ("the payer's") bank account designated by the payer and pay those funds into a bank account designated by the payee.

  7. Deposit account - Wikipedia

    en.wikipedia.org/wiki/Deposit_account

    A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded ...

  8. How To Save Money by Splitting Your Direct Deposit ... - AOL

    www.aol.com/save-money-splitting-direct-deposit...

    Direct deposit is a convenient way to receive your paycheck, tax refund or Social Security benefits. Instead of waiting for the check to arrive and then waiting in line to cash or deposit it, the...

  9. Direct deposit - Wikipedia

    en.wikipedia.org/wiki/Direct_deposit

    A direct deposit (or direct credit ), in banking, is a deposit of money by a payer directly into a payee's bank account. Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers' accounts, but the facility can be used for payments for any purpose, such as payment of bills, taxes ...

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