[Hidden-tech] Direct deposit for entrepreneurs

Rich rich at on-the-net.com
Fri Feb 27 13:57:53 EST 2009


For sure - EFT's should not be charged wire fees,
afaik EFT is diff than a wire and, in fact, a EFT saves the bank costs.

Rich

Edbride-PR wrote:
>   They must be different, because I have a client who pays me by EFT 
> and my bank charges a wire transfer fee. Maybe I need a different 
> bank....
>
> Ed
> ----- Original Message ----- From: "Marcia Yudkin" 
> <yudkinyudkin at yahoo.com>
> To: <hidden-discuss at lists.hidden-tech.net>
> Sent: Friday, February 27, 2009 10:07 AM
> Subject: Re: [Hidden-tech] Direct deposit for entrepreneurs
>>
>> Steve,
>>
>> Thanks - now a stupid question.  Is a "direct deposit" the same as an 
>> electronic transfer of funds?  How do you arrange that direct 
>> deposit, and is it automated (i.e., set up so it occurs without your 
>> intervention) or do you just take care of it once a month?
>>
>> I'm a long-time customer of Florence Savings Bank but I keep my 
>> business account in another bank.  (Why?  Because I once totally 
>> messed up all my finances by making a deposit into the wrong 
>> account.  If the accounts are at separate banks I cannot make that 
>> mistake.)  If all it takes to get the higher interest is one 
>> electronic funds transfer from another bank, that's easy to arrange.  
>> (I think.)...

-- 
Rich Roth
CEO On-the-net

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