ns are made by writing a check or paying with cash though.Net settlements allow groups to give checks directly to the payor institutions without having to go through all of the extra work. There are two types of settlement services that are available. On one hand, a person can have an agent representing them. The agent will give the bank the net credit and net debit that person has. The bank then posts the entries as is to the institutions Federal Reserve accounts. On the other hand, the institution will tell the person about his situation. Then, Fedwire will send the funds to credit and take away when necessary.There are many things banks do that we think nothing of. We usually just deposit or take out money and go on with our everyday lives not knowing what the process is that banks go through. Banking services have evolved over the years and it has made banking and banking services much more easier than they used to be. Lets just hope that we keep advancing and never have to go back to the way it used to be!!...
