Bank Transfer
Bank transfer is a method of electronically moving funds between bank accounts, typically used for payments, remittances, or business transactions. It involves systems like ACH (Automated Clearing House), wire transfers, or SEPA (Single Euro Payments Area) to facilitate secure and efficient money movement. This technology underpins many financial applications, e-commerce platforms, and payroll systems.
Developers should learn about bank transfers when building applications that handle payments, financial integrations, or e-commerce platforms, as it's essential for processing transactions securely and complying with regulations. Use cases include implementing payment gateways, automating payroll systems, or creating peer-to-peer payment apps that require direct account-to-account transfers.