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A bank transfer (also known as a wire transfer or credit transfer) is a method of transferring money from one person or institution (entity) to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. A bank wire transfer is often the most expedient method for. Need to transfer $10k from my chase account to another checking account by Wednesday morning. Nervous that ACH may take too long. I see the 'real-time' transfer option, but the limit is $5k. Is it possible to do two transfers, either one after the other, or 24 hours apart? How much money can I transfer? Most Chase accounts have a $25,000 per day limit. Chase Private Client and Chase Sapphire Banking limits are $100,000 per day. Keep in mind, your other bank may have a different transfer limit. Check free live currency rates, send fast money transfers to 130+ countries, and view currency data and analysis using the most accurate, up-to-the-minute data. » SEE: How to transfer money from one bank to another ACH transfer vs. Wire transfer ACH transfers are cheaper than wire transfers, which typically cost about $25 to send and $15 to receive.

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Alternative payments refers to payment methods that are used as an alternative to credit card payments. Most alternative payment methods address a domestic economy or have been specifically developed for electronic commerce and the payment systems are generally supported and operated by local banks. Each alternative payment method has its own unique application and settlement process, language and currency support, and is subject to domestic rules and regulations.

Types of alternative payment ways[edit]

The most common alternative payment methods are debit cards, charge cards, prepaid cards, direct debit, bank transfers, digital wallets, phone and mobile payments, checks, money orders and cash payments.

A debit card (also known as a bank card or check card) is a plastic card that provides an alternative payment method to cash when making purchases. A charge card is a plastic card that provides an alternative to cash when making purchases in which the issuer and the cardholder enter into an agreement that the debt incurred on the charge account will be paid in full and by due date. Debit and charge cards are used and accepted in many countries and can be used at a point of sale location or online.

Prepaid or stored-value cards provide payment through a monetary value held on the actual card or on deposit in an account. One major difference between stored-value cards and prepaid cards is that prepaid cards are usually issued in the name of the individual account holders, while stored value cards are usually anonymous. In the United States, prepaid and stored-value cards typically can be processed on the credit card network, but this is not the case for all cards, especially those outside of the United States.

A direct debit or direct withdrawal is an instruction that a bank account holder gives to his or her bank to collect an amount directly from another account. It is similar to a direct deposit but initiated by the beneficiary. Direct debit is available in several countries including the United Kingdom, Germany, Austria and the Netherlands. It was scheduled to be available across the whole Single European Payments Area by the end of 2010. In the United States, where checks are more popular than bank transfers, a similar service is available through the Automated Clearing House network.

A digital wallet is an online stored value service where funds are preloaded and made available using the providers online services. Popular providers include Skrill, NETELLER, PayPal.

A giro transfer is a bank transfer payment, whereby order is given by the payer to his or her bank, which transfers funds into the payee's bank account; the receiving bank then notifies the payee. Giro is often used by post offices as well. The term is little used in the United States, although an ACH Transfer or direct deposit is the US electronic version of the giro transfer.

Online Banking ePayments (OBeP) are similar to giro transfers, but are designed specifically for use with online commerce. With OBeP, during the online checkout process, the merchant redirects the consumer to their financial institution's online banking site where they login and authorize charges. After charges are authorized, the financial institution redirects the consumer back to the merchant site. With some services, like Trustly, the merchant can embed an iframe on their site so that the consumer doesn't have to leave the page to make a payment. All network communications are protected using industry standard encryption. Additionally, communications with the OBeP network take place on a virtual private network, not over the public Internet. OBeP systems protect consumer personal information by not requiring the disclosure of account numbers or other sensitive personal data to online merchants or other third parties.^[1]

Electronic bill payment is a feature of online banking, similar in its effect to a bank transfer, allowing a depositor to send money from his demand account to a creditor or vendor such as a public utility or a department store to be credited against a specific account. The payment is optimally executed electronically in real-time, though some financial institutions or payment services will wait until the next business day to send out the payment. The bank can usually also generate and mail a paper check or banker's draft to a creditor who is not set up to receive electronic payments.

With phone payments, consumers are billed via their regular telephone number, whereby the charges are added to their phone bill. Premium-rate telephone numbers or 900 numbers are telephone numbers for telephone calls during which certain services are provided, and for which prices higher than normal are charged.

Mobile payments is a new and rapidly adopted alternative payment method – especially in Asia and Europe. Instead of paying with cash, check or credit cards, a consumer can use a mobile phone to pay for wide range of services and goods. The charges are then added to their phone bill.

A check or cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified demand account held in the maker/depositor's name with that institution. Both the maker and payee may be natural persons or legal entities.

An electronic check is often referred to as an ACH payment in USA.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

Hand-recognition payment, also named pay-by-hand is a payment method that uses the scanning of one's hand.

Usage[edit]

The number of alternative payments has grown exponentially in the last few years due to the need for billing solutions on the Internet. Limited credit card penetration and customary local payment habits, combined with tight credit and security fears to use credit cards for online payments has increased the usage of alternative payments on a worldwide level.

Alternative payments are offered by domestic banks and payment processors that offer merchants a variety of billing solutions. Most alternative payments have online applicati

Types of alternative payment ways[edit]

Send Money To Another Bank Account Real Time Login

Usage[edit]