are still susceptible to fraud if depositing bank does not require id fraudulent checks only require a single forged signature 
wire transfers and ach payments automatic clearing house are typically used for larger or more frequent payments in which a check or credit card wouldn t be appropriate a payment from a manufacturer to a supplier for example would typically be done via wire transfer particularly if it was an international payment an ach payment is often used for direct deposits of payroll for a company s employees though both are transfers of electronic funds achs and wire transfers are different achs only work domestically and often take one or more business days to fully process wires are most often processed same day but have location limitations in addition achs can often be reversed while wire payments are permanent once the transaction is initiated may help payees receive funds faster than other methodscan be set up as an automatic payment for reoccurring transactionsallow for investigation and dispute for fraudulent transactionsrequire the payer to immediately have the funds ready to be disbursedmay not be recoverable for certain types of eftsmay result in higher transaction fees or costsdigital currency or tokens are a more modern approach to facilitating transactions the premise is simple one person in possession of digital currency can send coins or tokens to any address on a blockchain blockchains with smart contract capabilities can interject logic to automatically withdraw or transfer specific amounts based on underlying conditions the widespread use of cryptocurrency is still in its infancy stage especially when compared with other payment systems above however cryptocurrency has the advantage in only needing an internet connection to facilitate a payment as long both parties have a digital wallet on the same network payments can be made 