Our company is getting bigger and recently, our VP in Finance wanted to use Eletronic payment and asked me to do some research, can you recommend a few Web sites on this topic to me? I wanted to know the following: How, what, where, when and why?

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Start with TAPN's report EFT Definitions and Comparative Cost. That will give you the basics. Then talk to your bank about their ACH (automated clearinghouse) services and fees. You may find more information on ACH from NACHA, the electronic payments association, at www.NACHA.org. Wire transfers, as you will see in the report above, are expensive and typically used only for very high-dollar transfers. Again, talk to your bank.

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