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Barbara Cook

About Barbara Cook

Barbara is currently a financial writer working with successful B2B businesses, including SaaS companies. She is a former CFO for fast-growing tech companies and has Deloitte audit experience. Barbara has an MBA degree from The University of Texas and an active CPA license. When she’s not writing, Barbara likes to research public companies and play social games including Texas hold ‘em poker, bridge, and Mah Jongg.

Wire Transfer Meaning

Wire transfers can be made through online banking, in-person at a bank, through a mobile app, or through a money transmitter company online or at the money transfer company location.
Businesses can use their line of credit to pay for a wire transfer by sending the money needed for a wire transfer to their designated bank account

Bank Code

A bank code is a general term for different types of standard format sequences of numbers or alphanumerics to identify sending and receiving financial institutions like banks and their locations for financial transactions like bank transfers and secure communications. Specific bank codes are used domestically in the U.S. or worldwide for international transactions.

Disbursement Meaning

A disbursement is a cash business payment for operating expenses, including rent and payroll, purchasing inventory, supplies, fixed assets from vendors, interest expense and principal paid, and cash dividends to shareholders. Lenders initially make loan disbursements to borrowers. Escrow fund payouts are disbursements. 

EFT Meaning

Electronic funds transfer (EFT) has a broad definition that includes more than online ACH bank transfers and wire transfers. We define the meaning of EFT in business, economics, and online banking, then list and describe types of electronic funds transfers.

Accounts Payable Internal Controls

An internal controls framework – including approval workflows, signatory rights, and payment processes – provides the basis for minimizing risk and error in AP and ensuring financial compliance before payment.

Swift Code

A SWIFT code is a standardized 8 or 11-digit Bank Identifier Code (BIC) used worldwide to make secure payments between banks as international wire transfers, SEPA payments within the EU, and other international money transfers. SWIFT includes three or four subcodes for the bank, country, location, and (optional) branch.