Payment types have different names because money moves through different channels and follows different rules. When you see terms like ACH transfer, wire transfer, or debit card payment, each one describes a specific path the money takes from one account to another—different speeds, different costs, different security measures. Understanding what these terms mean helps you pick the right method for what you're trying to do and know what to expect when the money moves.
These guides explain how each payment type actually works: what happens behind the scenes, how long it takes, what it costs, and when you'd use one instead of another. You'll learn the mechanics of how the banking system routes different kinds of payments and what determines whether a transfer takes minutes or days.