Payments 101 Part 2 - ACH & Wire Transfers

In the United States, there are many ways we pay our bills and each other. The Automated Clearing House (ACH) is generally seen as a consumer product but is used by companies as well. Wire transfers, on the other hand, are a corporate product, but occasionally used by consumers. Either way, it is important that bank staff understand how both products work, who the participants are, and their responsibilities. This Payments 101 Part 2 - ACH & Wire Transfers online training course will provide a general overview of ACH and wire systems, transactions, and rules.

Managing the movement of money is one of the critical functions of a bank. There are many options for both consumers and corporations and two popular money transfer methods are Automated Clearing House or ACH transfers and wire transfers.

CPE Credits: 0.5

Course Learning Objectives

By taking this online Payments 101 Part 2 - ACH & Wire Transfers course, the user will learn to:

• Understand what the Automated Clearing House (ACH) Network is
• Identify the participants in ACH transaction processing
• Explain the flow of an ACH Entry
• Understand the basic responsibilities of the ACH participants
• Identify the participants of a wire transfer
• Explain the flow of a wire transfer
• Understand the basics of the wire transfer regulations

Course Outline

This online Payments 101 Part 2 - ACH & Wire Transfers course is made up of the following sections:

1. What is ACH?
2. The ACH Participants
3. What is a Wire Transfer?

Course Audience

This Payments 101 Part 2 - ACH & Wire Transfers online training course was designed for bank employess.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.