It’s one of the Most Efficient, cost-effective services your bank offers. The Automated Clearing House network—or ACH, for short—has been making life easier for banks and their customers for decades. ACH is an electronic network that facilitates a colossal number of transactions between financial institutions in the United States. Last year alone, ACH processed more than 21 billion transactions worth a total of $36.9 trillion. HOW DOES AN ACH TRANSACTION…
Experiment, but don’t make a major commitment to accepting payments via smartphone. Mobile payment is an inherently “sexy” technology that is long on interest, but short on adoption. It makes sense that interest is high. Smartphone market share is skyrocketing, and consumers demonstrate a growing trust in electronic transactions. Despite that, small business owners are smart to tread lightly when it comes to early adoption. TOO MANY ‘WALLETS’ Potentially the…
How mobile banking alerts can help you avoid unpleasant surprises. If you’re like most people, you’ve probably played Monopoly at some point. Just like in the beloved board game, most business owners spend so much of their time in high-level buying, selling or trading that they aren’t always ready for those unpredictable Chance cards. You remember: They’re the ones that tell you to “advance to GO”— or send you straight…
What to look for—and how to prevent it. From personal identity theft to corporate scams, fraud is one of the biggest money-making industries in the world, raking in an estimated $3.5 trillion annually. And for businesses that think it can’t happen to them, the numbers tell a different story. In 2012, more than 60 percent of businesses experienced attempted or actual payments fraud with an average loss to the company…
If you’re an entrepreneur, you’re probably well aware of the small business loans backed by the U.S. Small Business Administration. But the SBA also plays an important role after officially declared disasters, providing an array of direct loans—even to people who don’t actually own businesses. Business Physical Disaster Loans // These loans are worth up to $2 million and are made available to businesses of any size and most nonprofits…