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ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

Generally speaking, ACH payments are best suited for routine, smaller transactions, whereas wire transfers are preferred for urgent, high-value transfers. ACH Payment Wire Transfer Speed of transactions Typically takes 1-3 days for the receiving bank to receive the funds Within a day for a domestic wire transfer.

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ACH SEC Codes

Payment Savvy

You have to remember that ACH payments are not an instant payment method. It can take three or more business days before you’ll be able to see the transaction. The request is then sent to an ACH operator. In the US, there are two ACH operators – the Reserve Banks and EPN (Electronic Payments Network).