Question : How does third-party online bill pay organizations work?
Third-Party online bill pay service (not banks) how do they send the ACH files, get the money from the customer, and notify that the bill has been paid? I need as much detail as possible for my Senior research paper for college, I am a finance major.
- asked by Craig L
All Answers:
Answer #1
From my experience, they send the ACH files usingsystems, or through email as well (it's just afile)... this file is loaded into the system, itbrings up how much the customer owes, minus thecredits and the invoice is then generated andeither emailed out or hardcopy mailed out, andeither way, there is an online email that is thengenerated to be sent to the customer to let themknow that money is being debited from theiraccount on a certain day.
- answered by Fabulously Broke in the City
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measure and fulfill your financial needs
