article thumbnail

Update to our Customers on Silicon Valley Bank

Plooto

On Friday, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank ("SVB") and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver. In addition, the Federal Reserve, FDIC, and U.S.

article thumbnail

Going deep on the MyPayrollHR fraud with Wendy Slavkin of Cachet Financial Services

Cloud Accounting Podcast

Sponsor Podchaser: [link] Show Notes 01:41 – General Counsel Slavkin describes Cachet Financial Services as a sort of third-party vendor for payroll processing companies. 16:21 – Lesson learned: ABC - Always Be Cautious. 16:21 – Lesson learned: ABC - Always Be Cautious. We appreciate you!

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How JCG Projects’ bookkeeper helped build the financial foundations of their business

Xero

Financial services at Xero empower small businesses and their advisors to take control of their cash flow and financial future by providing trusted insights and services. In our customer series we highlight small businesses using financial services to make their life easier. .

article thumbnail

Top 20 Most Used SSIC Codes (Plus an Updated List of 80 Other Common Codes)

Counto

64999 OTHER FINANCIAL SERVICE ACTIVITIES, EXCEPT INSURANCE AND PENSION FUNDING ACTIVITIES N.E.C. 47714 RETAIL SALE OF BAGS, LUGGAGE AND TRAVEL ACCESSORIES Wholesale 46541 WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT (E.G.

article thumbnail

EFT Payments – The Guide to Electronic Fund Transfers

AvidXchange

The ATM leveraged new telecommunications technology to facilitate account transfers, deposits, cash withdrawals, and more using a magnetic stripe card and a personal identification number (PIN). Whenever debit cards, direct bank deposits, or e-transfers are used to facilitate a transaction, an EFT network is used.

article thumbnail

Everyone wants to be a bank for small business

Cloud Accounting Podcast

11:20 – Intuit and Visa are on the small-biz track, joining forces to offer instant deposits | Business Insider 12:16 – We’re not quite sure what we’re selling, but it’s in the TOS!

AR / AP 40
article thumbnail

How FedNow will Disrupt Vendor Payments

Nanonets

Unlike the drawn-out process of paper checks, digital payment methods offer simplicity, with funds directly deposited into vendor's bank accounts – a convenience vendors appreciate. Even in financial services, circumventing the Monday rush can yield substantial benefits.