Alok G. Singh wrote:
On 5 Sep 2008, [EMAIL PROTECTED] wrote:
You want to learn about ACH:
I was hoping for a little more detail.
You might have to supply more detail about what you're trying to do
exactly. :)
I (as a business entity) want to send funds to N personal checking
accounts. The N accounts are not the same everytime. And N can become
reasonably large as time passes.
I do not have much finance expertise, so I'm not sure if this is enough
of an explanation.
Alok,
Citibank in the US has an excellent bill payment system that will allow
you to send checks to various parties, if needed. If it has to be a bank
to bank transfer, ACH is the recommended way in the US as Perry has
noted. The US does not have any other facilities to do what you are
doing. Mastercard was building a large clearing house system that would
have helped you, but Oracle (and I with it) pulled out of the project
about 2 yrs ago, so I cannot say if that is available to you or not.
Having said that, Mastercard was aiming that as a solution for large
corporates and retailers, so am not sure if you would have qualified.
Hope this helps...
Venkat
