adminACH Transfers vs. Wire Transfers: What’s the Difference?
ACH Transfers vs. Wire Transfers: An Overview Sending money from your bank account electronically is increasingly convenient, easy, and cheap. Two ways to do so are automated clearing house (ACH)…
Postal Banking: What it Means, How it Works
In postal banking, your local post office offers some basic financial services, much like a commercial bank. Postal banking is common in much of the world and was once available…
What Is a Banking Desert?
What Is a Banking Desert? A banking desert is a census tract or neighborhood which has no bank branches in it or within 10 miles of its center. Economists at…
What Happens to Your Bank Account After Death?
Several things can happen to your bank account after you die. This depends on the type of account, how it was set up before you died, and whether you have…
SWIFT and Sanctions: How Banking System Impacts International Relations
The Society for Worldwide Interbank Financial Telecommunication, commonly known as SWIFT, is an organization that provides tools to facilitate secure, efficient communication among financial institutions around the world. Although SWIFT…
How Immigrants Can Access Financial Services
Access to banking helps individuals establish good financial habits and avoid the high fees commonly charged by non-bank financial institutions, such as third-party check-cashing stores and payday lenders. While opening…
What Is Zelle? How It Works and Example
Zelle is a peer-to-peer money transfer app that allows users to move funds from one bank account to another. It’s among a growing number of mobile payments apps that allow…
Overcoming Language Barriers in Banking
In the United States, language barriers can make it difficult for non-English speakers to access banking services, so paying bills and saving money can be more challenging. About one in…
Banking Rights for Immigrants
Banking as a newcomer to a country can be an incredibly overwhelming endeavor. Despite being a nation founded on immigrants, the United States can make things difficult for both documented…
Early Warning Services: What It Does and Company History
Early Warning Services LLC, a privately held financial technology (fintech) company owned by seven major banks, owns several companies including Zelle, a money transfer app. It also provides identity, authentication,…
