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abrylov

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abrylov
·4 anni fa·discuss
We do. Small companies don’t want to deal with setting direct deposits through an ACH and it’s much easier to write a check. The latest number from the Federal Reserve was that in 2018 they processed 18 billion checks issued by companies and individuals.
abrylov
·4 anni fa·discuss
Do you really have an integration with the Federal Reserve and the Clearing House or do you have an integration to a bank that has it? Last time I checked at least one of them required participants to be a chartered financial institution.
abrylov
·4 anni fa·discuss
I’m not sure you can reverse a FedNow payment as it uses a good funds model. The same way you can’t reverse a wire and the only reversible allowable for ACH is for erroneous files/payments and unauthorized debits (not all fraud is applicable there).
abrylov
·4 anni fa·discuss
ACH network by itself has a limit of $1M per transaction. Any limits below that, that’s your bank.
abrylov
·4 anni fa·discuss
Actually yes, FedNow will only support one way transfers (push credits), when the owner of the account can initiate a transfer. Request for Payments supposed to support this as well, when merchant can send you a request to pay for something, but the account owner is the one who authorizes the transfer (ad oppose to direct debits in the ach world).
abrylov
·4 anni fa·discuss
It is illegal in the US to vet potential employees based on religion.