ACH Entry, Direct Deposit and IRS

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

Stax

JUNE 27, 2024

With a history dating back to 1972, ACH transfers are a digital evolution of conventional paper checks, with reduced human input and improved efficiency. They’re mostly used to process direct deposits and payments. Some people refer to ACH payments as direct debit, direct deposit, or auto-transfer.

Wire Transfer

Wire Transfer Wires Wire ACH

ACH SEC Codes

Payment Savvy

NOVEMBER 10, 2022

In terms of ACH transaction types, there are two – ACH debits, also known as direct payments (when money gets pulled out of an account), and ACH credits, also known as direct deposits (when money gets added to the account). There is a number of situations in which ACH payments are used.

SEC Codes

SEC Codes ACH ODFI Wire Transfer

Payments Space

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

ACH SEC Codes

Webinars

Stay Connected