Banks have long offered online bill payment for free as an enticement to attract new consumers and reward existing ones.  But, the service takes money to maintain and the banks are looking for new ways to handle the service.  Consumers used to receiving the service free are loath to pay fees for..

How are ACH Transactions Classified?This article provides information on the classification codes associated with ACH processingACH Classification CodesThe Standard Entry Class (SEC) code is a three letter code that identifies the nature of the ACH processing entry. Here are some common SEC..

Check cashing stores are still the primary source of financial services for underbanked or unbanked consumers. According the the Aite Group, this group of consumers seldom use electronic payments.  Instead, they rely on more traditional payment methods such as cash, checks and money..

Prepaid cards for general use have been marketed with the idea that the cards could be reloaded. But, according to Mercator Advisory Group, many people who have the cards were not aware that the cards were reloadable.  And even if people knew the cards could be reloaded, only 11% of card holders..

Internet bill payments via ACH payment processing continue to grow while paper checks declined during third quarter 2009.  According to NACHA , transactions of WEB e-checks for ACH online bill payments, totaled 562.6 million, up 7.6% from 522.9 million in 2008’s third quarter.The accounts..

Electronic payment processing is continuing to expand within utility companies as more consumers are paying bills electronically rather than writing paper checks. ACH payments have long been popular for utility bill payments. ACH is a low cost method of accepting payments for utility..